Hi everyone-
I am a buyer in a CA short sale where BOA is the 1st lien holder. It has been a little over 3 months since I put my offer in and the LA has told us that he has verbal approval, but nothing in writing yet. I recently went back to see the property and discovered that the exterior wood trim around one of the windows has been ripped off and exposed termite damage. It wasn't like that when we put the offer in. The property is vacant and the seller has discontinued watering the landscape causing most of the palm trees that make this property special to dry out. My agent has contacted the LA about the watering problem and he replied that the seller will not start watering till we are under contract. My agent has suggested that I pay for a pest inspection while we are waiting for approval to assess the extent of the damage and get an estimate for repairs, so we know what course of action to take based on that information. I am still upset over the palm trees. It would take thousands of dollars to have them replaced. Any suggestions or advice would be greatly appreciated. Thanks.
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You definately should get a termite inspection done ASAP. I doubt that the termite issue is a new one, it was probably there but you did not see it. Keep in mind that it is very doubtful that you are going to be able to get any sort of discount off the price for termite damage. With any luck it will not be a big deal if you can take care of it right away.
As far as the Palm Trees, they are pretty tough, probably come right back with some water; otherwise, how would they grow in the wild?