Sherman Oaks - Studio City
Termite Inspections, Reports and Work - Who is Responsible?
May 21st, 2008 Categories: Bel Air - Holmby Hills, Beverly Hills - BHPO, Brentwood, Buying Real Estate, Cheviot Hills - Rancho Park, Culver City, Hollywood Hills, Home Improvement, Home Resources, Inspection Resources, Malibu, Marina Del Rey - Venice, Pacific Palisades, Real Estate, Real Estate News, Santa Monica, Selling Real Estate, Sherman Oaks - Studio City, West Hollywood, Westwood - Century City
So you’re about to buy or sell a house and the subject of termite inspections come up in discussion - usually when the offer is being written and/or presented.
Here is what YOU need to know:
CUSTOMARILY, the Seller is responsible for the inspection, providing the buyer with a termite report, and ultimately a termite clearance at the close escrow. The Seller usually pays for Section I work, and the Buyer can pay for any Section II work needed.
What is “Section I” and “Section II” work?
Section I is any EXISTING termite infestation, damage or wood destroying organisms such as dryrot fungus and the like. This may include local treatment, whole house tenting, and replacement of damaged timber.
Section II is anything found to possibly invite termite infestation or cause wood damage in the future, such as debris in the attic, earth to wood contact, etc.
There are circumstances when the Seller is NOT responsible for all the “termite work”, some examples are:
- When it’s an ALL CASH purchase. The termite clearance is necessary to close escrow because it’s often a condition for funding by the lenders.
- When the property is a TEAR-DOWN. If the intent by the buyer is to bulldoze the property to the ground, no one really cares if there are termites or rotted wood all over the place.
- When the SELLER specifies in the contract they will not do any work, or caps the dollar amount they are willing to pay for work needed. The Buyer then can agree to pick up the difference.
95% of the homes that are sold here in SoCal require some termite clearance action. Homeowners are well advised to maintain a termite treatment regime once a year to keep those buggers away.
Call us anytime for a referral to a reputable company to add to your home vendors list!
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Go Native, Go Green: Privy to LA’s Most Creative Gardens in the Native Plant Garden Tour
March 31st, 2008 Categories: Bel Air - Holmby Hills, Beverly Hills - BHPO, Brentwood, Cheviot Hills - Rancho Park, Culver City, Hollywood Hills, Malibu, Marina Del Rey - Venice, Pacific Palisades, Santa Monica, Sherman Oaks - Studio City, Things To Do, West Hollywood, Westwood - Century City
Come see how native plants can brighten your yard and make it gorgeous- while saving you time and water! It’s taking place soon- Saturday, April 12 and Sunday, April 13, 2008, 10:00-4:00p.m. each day.
This is a two-day self-guided journey through 38 Los Angeles home gardens of all shapes, sizes and design styles, each containing at least 50% California native plants. You’re invited also to attend a free presentation, “Designing Native Plant Gardens,” with author/garden designer Alrie Middlebrook on Saturday, Apr. 12, 6:30p.m., at Barnsdall Gallery Theatre, 4800 Hollywood Blvd., Hollywood, CA 90028.
Proceeds benefit the programs of the Theodore Payne Foundation for Wild Flowers & Native Plants., Inc., California’s only non-profit native plant nursery, seed source, bookstore and education center. They’re located at 10459 Tuxford St., Sun Valley, CA 91352. 818-768-1802. Open to the public Tuesday-Saturday, 8:30a.m.-4:30p.m.
Admission: $20/person.
Tickets and info: www.theodorepayne.org
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Multiple Offers Sweep Santa Monica, Beverly Hills, Westwood, Hollywood Hills…
March 17th, 2008 Categories: Bel Air - Holmby Hills, Beverly Hills - BHPO, Brentwood, Buying Real Estate, Cheviot Hills - Rancho Park, Culver City, Hollywood Hills, Malibu, Marina Del Rey - Venice, Pacific Palisades, Santa Monica, Selling Real Estate, Sherman Oaks - Studio City, West Hollywood, Westwood - Century City
Per our last posting, there are plenty of reports from reputable sources and sensationalistic news articles that can argue the ups and downs of our Los Angeles Westside real estate market all day long.
We could argue for the stability of our unique market and likewise we could tell you it’s all going to hell in a hand basket. You’ve heard it all before.
What we’d rather do is to give you a small sample of what’s actually happening behind closed doors (as the seller reviews with his/her agent, the spread of offers to purchase their home). As they say, “show me the money” and in our market, there seems to be lots of it flying around. Yes, still.
Observed Multiple Offers on Hot Properties in the last 14 days:
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Hello LA!
October 18th, 2007 Categories: Bel Air - Holmby Hills, Beverly Hills - BHPO, Brentwood, Cheviot Hills - Rancho Park, Culver City, Hollywood Hills, Malibu, Marina Del Rey - Venice, Pacific Palisades, Real Estate, Santa Monica, Sherman Oaks - Studio City, West Hollywood, Westwood - Century City
Welcome!!
Please come back soon for the launch of a very exciting blog about the Greater Los Angeles area Real Estate & Lifestyle!
Merrie & Noelle, the LA HOMES INSIDER girls, will keep you up to speed on the latest happenings and trends in our ever changing market. Looking for those fabulous deals and (sshhh…quiet) listings you know are out there, but not maybe in yet in the MLS? Are you looking for professional representation to market and sell your property quickly, profitably and as painless as possible? (don’t wait for the blog, just CALL!)
Stay tuned…you’ll WANT to know what the LA HOMES INSIDER knows about the real estate market where YOU live.
Merrie Kung & Noelle Hettlinger
Coldwell Banker Beverly Hills North
301 North Canon Drive E
Beverly Hills, CA 90210
310.736.5599 mkung@coldwellbanker.com
310.621.9800 nchettlinger@gmail.com
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