Question:
“I’m selling a townhouse. My agent is a friend, but he’s new and inexperienced, so I’d like your opinion. We accepted an offer and the buyer’s lender insists that it be tented. The homeowner’s association pays for that, but it’s taking a long time to get their approval, let alone get it scheduled and done. I need to get this closed soon. How can we speed things up?”
Answer:
First, I understand that it’s nice to work with a friend.
But if you were charged with a crime (and innocent I hope!), wouldn’t you want an experienced attorney representing you? Or would you just hire a new attorney who was a friend?
Selling a home is a business transaction, not a social event, and you need an experienced professional on your side.
That being said…
Contrary to popular belief, lenders rarely require a fumigation or termite clearance. When they do, it’s almost always for one of these reasons:
- It’s a VA loan, which does require a termite clearance
- The appraiser noted excessive pest control work needed and the lender wants it done so they’re not loaning on “damaged goods”
- Your contract with the buyer required a clearance, and (for no logical reason) that makes lenders also require it
So your agent should be in communication with the buyer’s lender to find out why they want the fumigation.
If it’s reason #3 above, the fix may be as simple as amending the contract so that a pest control clearance is no longer required. You could then have the fumigation done after closing if the buyer is agreeable.
Hope that helps. And give me your agent’s address so I can send him a bill. Just kidding…
