We just had a home inspection done on a property we're in contract to buy. It's a 14-unit building. They found subterranean termites all over - prescription is to treat the perimeter, drilling in and putting insecticide - that's pretty standard and not too bad pricewise.
The kicker is they found drywood termites in one ( just one! ) of the units. Recommendation is to tent the structure. Now that's SERIOUS cash. And the tenants have to be put up in motels for 3 days IIRC. Drywood termites are the ones that grow wings and go looking for a home.
In another multifamily that I own ( 52 units, 7 buildings ) we have occasionally over the years encountered drywoods in our buildings, and we have *never* had to tent. What we do is get our contractor to tear apart the wall, remove and replace the damaged wood. Then while the wall is open, the termite guy comes out and inspects & treats. His standard fee for that is $400. Termite guy does his thing, the contractor puts the wall back together. No tent, no motel.
But now we have this termite report that says "tent". I think this is a knee-jerk reaction of many pest control companies when they see drywood termites. I may have to pass on this property if I can't get the seller to do the tenting. I believe that banks are reluctant to lend without a clean structural pest report.
I suggest getting another estimate with a few more pest control companies.
@Jerome Kaidor interesting. Yes I would get a couple different pest inspection opinions and they have a conversation with the lender about options. Good thing you found this out now!
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