The house we are under contract, has a 20 day "Due Diligence", so we have been able to get inspections, contractors and what-not to examine the house. We can walk away anytime, or re-negotiate the price (which we intend to do.
About this house, it's located in FL, built in the 1920-1930 time frame, and is a wood frame constructed house (which they hardly build around here now) T
The home inspection revealed a long list of issues, but did say that the floor joist were in real nice shape. We need Electrical fixed, plumbing, new roof, new septic, windows addressed and a bunch of other stuff, like wood rot, non working items, etc..
The Pest inspection revealed past termite damage, but didn't see active damage. He pointed out areas of damage, but now I'm thinking.. is there more hidden and are we opening up a big can of worms!? I feel okay going into the major list above, because they are known issues, but what if the repair the roof and termites have ate it away!
I would imagine that Florida wood homes must all be a termite target, but would you buy a house that had past termite damage?