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k5150

Bank paying for section 1 clearance

k5150
14 years ago

Hello,

Need some advice. We are looking at purchasing a REO in Los Angeles. It has significant termite (section 1) repair work - $25k+ - and bank has agreed to do the work - our offer will be contingent on Section 1 clearance.

My concern here is what will the house look like after the repair is completed. For example, the hardwood floor in places has damage and needs replacing, as are some windows, 1 balcony, etc - is there any way to include in the contract that not only should we get Section 1 clearance, but also that the post-repair work is up to standard to match the un-damaged areas? Any clause we can include? Any advice would be much appreciated.

Thanks,

-K

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