The recession has been in full swing for several years now. Unemployment numbers are frightening. Millions of homes are in foreclosure. And the real estate market has been stagnant. But if you think those homes have been vacant, think again. Guess who moved in. Termites!

The root cause of the problem of course, is neglect. The longer a home has been neglected, the higher the risk for termites. In some cases the homeowner was in financial trouble long before foreclosure. It is a safe bet that termite inspections were never done. Plumbing and roof leaks, also a result of neglect, make vacant homes even more attractive to termites.

US property owners currently pay between $1.2 and $5 billion dollars per year for termite treatment and damage. That amount is more than all the wind damage from hurricanes, tornadoes and other storms put together. Annual termite inspections dramatically reduce the risk of serious termite damage.

An average drywood termite colony consists of 5,000 to 10,000 termites according to researchers. Colonies can mature and begin to swarm in about 4 years. During that period a single colony can split into multiple colonies.

Termite researchers believe it is possible that termite colonies in foreclosed homes are growing larger than normal. Termite control professionals say their observations in the field agree. Neglect and the lack of termite inspections is the cause.

Banks selling foreclosed homes have typically never seen those homes. They have no knowledge of the condition of the home or of any problems that might exist. No property disclosure report is given to buyers and the homes are sold in “as-is” condition. The buyer does have the right of inspection, however. Savvy buyers will obtain both a termite inspection and a complete home inspection by reputable professionals.

If a termite inspection reveals problems, the bank will not make repairs. Unfortunately, there is no negotiation on this issue. This is the time to get estimates for both termite control and damage repair. Any offer made on the foreclosed property should reflect the value of the property minus termite treatment and repairs.

The bottom line is that homes in foreclosure have typically been neglected, often for years. These properties have a high risk of termite infestation. The longer the period of neglect, the higher the risk. Before committing to purchasing such a property, a professional termite inspection should be required. The cost of the inspection and termite control is minimal compared to the cost of future damage.

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