Last night I was driving to pick up flowers for my wife for our wedding anniversary when I received the call from the buyers' agent on one of my listing: "I've got some bad news." It turns out the bad news were termites had been found by his buyers' pest inspector. Of course, the news may sound worse than it is.
Since the home was built in 2004, it more than likely is covered by the builders' termite warranty. Many (but not all) home builders offer one-year structural warranties and a five-year termite warranty on the house.
But let's say the house didn't have a warranty. Would the discovery of termites be bad news? Probably, but for whom depends on the timing of the discovery.
The Arizona real estate contract makes no provisions for the remediation of termite infestation once it's discovered. Instead, a pest inspection is one of a list of items that are supposed to be taken care of by the buyers during a 10-day inspection period that begins the day after the last signature is written on the contract.
Should termites be found during the inspection period, the buyer should list the issue on the Buyers Inspection Notice sent from buyer to seller at the conclusion of the inspection period. In fact, any repair requests are to be made on this form at that time.
And if the termites are discovered after the inspection period? Contractually, the seller is under no obligation to remediate the issue. Realistically, though, in the interest of making sure the house is sold, it may be in their best interest to do so.
As for what my seller decided ... we'll tell you once we decide.
For more information about the Phoenix Arizona Real Estate market, visit my comprehensive website at http://www.DaltonsAzHomes.com! | 
