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Wood Infestation Report
By Contributor on November 28, 2018
A wood infestation report is a report often required by lenders when underwriting residential mortgages.
It would include information regarding the presence and proliferation of wood-boring and wood destroying insects like termites at the property. It might also include detail on water damage as well.
You need to know:
What lenders hope you never learn about mortgages
It is part of their diligence checks and loan approval process.
The report serves as an assurance to lenders that the property in question is not close to a condemnation condition.
Only will extreme cases of infestation will lead to a loan offer being withdrawn.
It is conducted by licensed home inspectors or pest control experts. And the costs can either be absorbed by the lender or borne by the borrower.
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