what is a termite bond

What is a Termite Bond? What are Bonds Good For?

Termites attack thousands of homes each year. In states like North Carolina, they can wreak havoc, especially in our coastal towns. 

The termite bond is to ensure your home is protected from these insects that cause millions of dollars in damages each year. This bond is between the homeowner and a pest control company; this contract, after an initial pre-inspection, guarantees that the pest control company will give occasional check ins to ensure your home stays termite free.

What are Termite Bonds Good For?

is a termite bond worth it

The Subterranean termites, that can often be found in South Carolina and other southern states, can have colonies as large as 2 million insects.

A termite bond legally binds the pest control company, that the bond was created by/ with, to:

  • Cover any termite damage, that occurred after the initial inspection
  • Create a chemical barrier around your home
  • Do preventative termite treatment
  • Conduct quarterly, semi-annual or annual inspections (whichever was initially agreed upon in the contract).

Sell Your House for Cash

Do you have a highly distressed property or perhaps just prefer cash now?

Termite Bonds: Pros & Cons

Like everything else in life, that has an upside and a downside, so do termite bonds. These are the termite bond’s pros and cons.

is a termite bond worth it

 

PROS

CONS

  • Includes preventative termite treatments
  • Could help speed up the closing process and sell your house fast or faster than you anticipated
  • Guarantees, at least one, termite inspection per year
  • Includes repairs for termite damage
  • Doesn’t cover damages caused by any other insect
  • Doesn’t cover all species of termites

Do I need a termite bond if I have Homeowners Insurance?

Who Pays for Home Warranty?

A Home Warranty (also known as a Home Protection Plan) protects both the seller AND the buyer in the case that there is a malfunction with a newly purchased home.

These critters eat 24/7, they never take any time off, so be proactive and keep ahead of them.

Most homeowner’s insurance do not cover termite damage, unless it was specifically requested; it will, however, come at an additional cost.

Is a termite bond worth it? We at The Residential Buyer, sure think so. But for homeowners that are still wondering ‘Do I need a termite bond to sell my house?’; you don’t need a termite bond to sell your home.