The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Tuesday, March 22, 2005

Termites! Investors worst enemy..

Offer #5 - The owner left the front door unlocked yesterday, so I had plenty of time to go through and generate the list of repairs. I had allowed for a $2500 repair allowance which needs to be accurate! (I'll post all of the numbers tomorrow)

Hanging from the ceiling, was evidence of termites! Its strange looking, imagine a string made of dirt hanging from the ceiling which was about 12" long! There were other spots was well.

Ok, so now since I was in termite mode, I went around the perimeter of the house and noticed about 20 dirt tunnels going from the ground up into the house!! There were tunnels from every side of the house!

The east side was hit the hardest and the exterior panels on the bottom edges with all soft. I thought this was water damage at first , but it was obvious that termites had attacked it!

So, is this a deal killer? Probably... Fixing the exterior panels and repainting already puts me over budget, and thats assuming that there's not much damage from the wood structure in the walls. I know that there is termites 10 feet into the house going from the ceiling to the floor.

If seller wants to contribute $$, than maybe its still a go. Stay tuned!
|| Bginvestor, 8:02 PM

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