Common use of TERMITE INSPECTION Clause in Contracts

TERMITE INSPECTION. The BUYERS must choose one of the following alternatives relative to wood destroying insects: 1) ❑ By (❑A.M. ❑P.M.) on , 20 , BUYERS may, at BUYERS' expense, have the Property inspected for termites or other wood destroying insects by a licensed Pest Inspector. If active infestation or damage due to prior infestation is discovered, SELLERS shall have the option of either having the Property treated for infestation by a licensed Pest Exterminator and having any damage repaired to the BUYERS' satisfaction, or declaring this Purchase Agreement void. This provision shall not apply to fences, trees, shrubs, or out buildings other than garages. BUYERS may accept the Property in its existing condition without such treatment or repairs. IF BUYERS ARE OBTAINING VA FINANCING, THEN THE COST OF THE TERMITE INSPECTION SHALL BE BORNE BY THE SELLERS. 2) ❑ BUYERS acknowledge that they have been advised of their right of a pest inspection and have declined to make said Initials unless required by lending institution at which time said inspection would be at BUYERS' expense and the BUYER will have the same rights as under paragraph 9E(1) if active infestation or damage due to prior infestation is discovered.