Most Purchase Contracts include the right for a buyer to select a professional termite inspector to complete a termite inspection and review the written report within a specific time period.
The seller is generally responsible for the cost up to a certain amount, per the terms of the contract. If the termite inspection report reveals live termite infestation, the seller will be responsible for the treatment of the live infestation (not repair of the damage) within a certain time period.
The buyer’s purchase of the property is contingent on the delivery of the termite inspection report to the buyer within the specified time period stating there is no visible evidence of live termite infestation – or the treatment of the live termite infestation within a certain time period.
If neither occurs within the time periods specified, the buyer may elect to terminate the contract in writing and within the specified time period, otherwise, the buyer will have waived this contingency.