When you purchase a termite bond, it is important to purchase a bond that can be transferred to a new homeowner in the event you sell your home. Before purchasing the bond, also ask the bond issuer if the bond can be transferred to a different pest control company in the event the issuing pest control company goes out of business.
How to Transfer a Termite Bond
The process of transferring a termite bond to a new homeowner varies by company. The new homeowner may request an inspection prior to the transfer, and there may be transfer fees.
Typically, homeowners pay annual installments for termite bonds. The new homeowner will need to renew the bond every year for the retreatment and/or repair guarantees to remain in effect.
Do I Need a Termite Bond?
If your home has been treated for termites, a termite bond can help protect your investment. It also can ensure the pest control company is responsible for retreatment and/or repairs – rather than you paying these fees. If you are selling your home, a transferable bond can be a selling point to the buyer since it confirms protection is already in place.
For homes showing no signs of past or present termite infestation, home sellers typically do not need to purchase a termite bond before closing. However, homebuyers should consider purchasing a termite bond for a newly purchased home.
A termite inspection is limited to areas that are visible and easily accessible to the inspector. A qualified professional will check the home’s crawlspace and attic. He or she also may use infrared technology that can scan behind walls for hidden infestations or moisture sources.
It typically takes termite colonies more than five years to grow to a size that can damage your home – before which time, it may be difficult to confirm activity. The combination of prevention measures and a termite bond can help protect your home and potentially cover the cost of retreatment or damage repairs for infestations, if needed.