Do we need a termite inspection for a new home?
It used to be that lenders routinely required a termite inspection for new homes. The logic was that when you look at a new home you see a finished product. However, weeks before completion, the elements making-up that new home were pipes, wires, and wood. And that wood, sitting outdoors for an unknown amount of time, could be infested with termites or other wood-boring insects.
Is such infestation likely? No. But a home is a very large investment and it’s security for the lender’s very large loan. The lender does not want to see that security eaten away, thus the requirement to check for termites even for new homes.
Lenders today rarely ask for a termite inspection, in part because large builders often provide a five-year termite guarantee.
Many real estate sales forms have a requirement for a termite inspection. However, if okay with the lender such clauses can be removed if that’s what you want. For specifics, speak with brokers and lenders.
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