Termite bond rip off??

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
User avatar
riptide
Posts: 713
Joined: Thu Jul 17, 2014 2:38 pm
Location: Coastal, South Carolina

Termite bond rip off??

Post by riptide » Mon Jul 20, 2015 6:33 am

I have an annual termite bond on my house that I believe is a scam and the termite company 'laughs all the way to the bank' with all these annual termite bonds. Is it really necessary , unless you are going to sell your house? I can look for termites myself and never had problems with them before. The house is only two years old, and I live in the Southeast coast.
Brokerage account 70/30 | VG total Market 40% | VG total Intl 11% | VG small cap value 12% | VG Reit index 7% | VG Total Bond 30% | TSP Account 75/25 | C Fund 45%, S 15%, I 15%, G 25% | EE Bonds=Emergency Fund

User avatar
Meaty
Posts: 583
Joined: Mon Jul 22, 2013 7:35 pm
Location: Texas

Re: Termite bond rip off??

Post by Meaty » Mon Jul 20, 2015 7:29 am

Not a termite expert, but if it were me I'd just get the actual treatment (~$1500). The annual visual inspection for ~$100 is something you can do and you never know what they'll decline to cover should you have an actual issue

Good luck
"Discipline equals Freedom" - Jocko Willink

User avatar
riptide
Posts: 713
Joined: Thu Jul 17, 2014 2:38 pm
Location: Coastal, South Carolina

Re: Termite bond rip off??

Post by riptide » Mon Jul 20, 2015 7:52 am

Meaty wrote:Not a termite expert, but if it were me I'd just get the actual treatment (~$1500). The annual visual inspection for ~$100 is something you can do and you never know what they'll decline to cover should you have an actual issue

Good luck
Thanks, the annual fee is $270.00! not $100.00. Seems pretty crooked. I called and if I let it go it costs $750.00 to re-start the termite bond. It sure seems to be a rip off unless you are selling very soon.
Brokerage account 70/30 | VG total Market 40% | VG total Intl 11% | VG small cap value 12% | VG Reit index 7% | VG Total Bond 30% | TSP Account 75/25 | C Fund 45%, S 15%, I 15%, G 25% | EE Bonds=Emergency Fund

FiveDriver
Posts: 67
Joined: Sat Apr 25, 2015 9:47 am
Location: Charleston, SC

Re: Termite bond rip off??

Post by FiveDriver » Mon Jul 20, 2015 8:06 am

You probably should have shopped around, I think you can get a better price. I live in Charleston and the cost of Termite Bonds varied widely. I went with a local bug-killer, not one of the national outfits. My guy comes around every three months and sprays everything.....Palmetto Bugs laying toes up everywhere !!!

You can, and should regularly inspect the around the foundation. There should be no wood within 4 inches of the lawn surface -- they don't like daylight so 4 inches might as well be a mile. If you can spot their tunnels early you can spray "Home Defense" and kill them. The Bond becomes important if you miss any damage. When you sell the house, the new buyer will get their own CD100 Termite INspection per the contract.

How did you do for Flood Insurance ??

User avatar
riptide
Posts: 713
Joined: Thu Jul 17, 2014 2:38 pm
Location: Coastal, South Carolina

Re: Termite bond rip off??

Post by riptide » Mon Jul 20, 2015 8:55 am

FiveDriver wrote:You probably should have shopped around, I think you can get a better price. I live in Charleston and the cost of Termite Bonds varied widely. I went with a local bug-killer, not one of the national outfits. My guy comes around every three months and sprays everything.....Palmetto Bugs laying toes up everywhere !!!

You can, and should regularly inspect the around the foundation. There should be no wood within 4 inches of the lawn surface -- they don't like daylight so 4 inches might as well be a mile. If you can spot their tunnels early you can spray "Home Defense" and kill them. The Bond becomes important if you miss any damage. When you sell the house, the new buyer will get their own CD100 Termite INspection per the contract.

How did you do for Flood Insurance ??
The termite bond came with the house, the house was new in 2013. It's a national outfit with high prices. Sounds like you have a better service, they only come once a year and cost $270.00!

I live on one of the islands in Charleston too, and by some magic wand , I don't pay flood insurance but live close to the River!
Brokerage account 70/30 | VG total Market 40% | VG total Intl 11% | VG small cap value 12% | VG Reit index 7% | VG Total Bond 30% | TSP Account 75/25 | C Fund 45%, S 15%, I 15%, G 25% | EE Bonds=Emergency Fund

FiveDriver
Posts: 67
Joined: Sat Apr 25, 2015 9:47 am
Location: Charleston, SC

Re: Termite bond rip off??

Post by FiveDriver » Mon Jul 20, 2015 9:22 am

Cool. Where are you......Daniel Island ??
I used Buzz-Off based on my Realtor's recommendation, when I compared them to Terminex or Home Team...they were much less expensive.

ralph124cf
Posts: 1934
Joined: Tue Apr 01, 2014 11:41 am

Re: Termite bond rip off??

Post by ralph124cf » Mon Jul 20, 2015 9:28 am

What types of termites do you have in your area? There seem to be three types in the US right now, subterranean (which is the type that builds the mud tunnels), dry wood, and Formosan. The signs to watch for from each are different.

Ralph

User avatar
riptide
Posts: 713
Joined: Thu Jul 17, 2014 2:38 pm
Location: Coastal, South Carolina

Re: Termite bond rip off??

Post by riptide » Mon Jul 20, 2015 9:32 am

FiveDriver wrote:Cool. Where are you......Daniel Island ??
I used Buzz-Off based on my Realtor's recommendation, when I compared them to Terminex or Home Team...they were much less expensive.
Johns Island. Thanks , I am checking with Target pest control on James Island.
Brokerage account 70/30 | VG total Market 40% | VG total Intl 11% | VG small cap value 12% | VG Reit index 7% | VG Total Bond 30% | TSP Account 75/25 | C Fund 45%, S 15%, I 15%, G 25% | EE Bonds=Emergency Fund

geegecko
Posts: 27
Joined: Thu May 05, 2011 8:35 pm

Re: Termite bond rip off??

Post by geegecko » Mon Jul 20, 2015 3:36 pm

Call Ledford Pest Control in Charleston.

geegecko
Posts: 27
Joined: Thu May 05, 2011 8:35 pm

Re: Termite bond rip off??

Post by geegecko » Mon Jul 20, 2015 3:39 pm

ralph124cf wrote:What types of termites do you have in your area?
Ralph
There are Eastern subterranean termites and Formosan subterranean termites in South Carolina.

retiredjg
Posts: 32919
Joined: Thu Jan 10, 2008 12:56 pm

Re: Termite bond rip off??

Post by retiredjg » Mon Jul 20, 2015 3:48 pm

I'm learning about this too. There seems to be a difference between a termite contract (something I've used in the past) and a termite bond.

Apparently my house had a bond when I bought it and I thought it was a contract and haven't paid much attention to the details and did not "take up" (or whatever you call it) the bond when I moved in.

If someone knows the difference, I'd appreciate learning about it.

southbay
Posts: 471
Joined: Thu Apr 16, 2015 2:40 pm

Re: Termite bond rip off??

Post by southbay » Mon Jul 20, 2015 3:51 pm

you can't find all the termites in a "visual inspection". termites are very good at hiding. there is no possible way to know where they all are. that's why the only way to be sure they are eliminated is to tent and fumigate the entire structure. (at least with the type of termites we have here in Southern California)

tomd37
Posts: 2800
Joined: Thu Mar 01, 2007 10:39 pm
Location: Middle Tennessee

Re: Termite bond rip off??

Post by tomd37 » Mon Jul 20, 2015 4:38 pm

Riptide,
I fell for a Terminix plan 18 years ago. After buying this house I had the foundation properly treated by them (no issues with that portion) and an annual renewal of $95. Well the annual fee has increased over the years and is up to $270 now and will not be renewed again. :annoyed I live in middle Tennessee and will take my chances and keep a close watch as possible for any indications of termites and then seek a local company if needed.
Tom D.

coffeehubcap
Posts: 189
Joined: Wed Sep 19, 2007 7:56 pm

Re: Termite bond rip off??

Post by coffeehubcap » Mon Jul 20, 2015 4:50 pm

On my contract it states that I have to have 14 years of inspection.
The contract only covers the area where they treated to get rid of the termites. If they show up somewhere else you have no coverage. I terminated my contract this year and they still bugged me about coming out to do an inspection. I told them I did my part. Since I followed the inspector around every year I know I can do what he did. I hated paying $89 yearly for a 10 minute walk-thru.

User avatar
LadyGeek
Site Admin
Posts: 46070
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Termite bond rip off??

Post by LadyGeek » Mon Jul 20, 2015 8:04 pm

This thread is now in the Personal Consumer Issues forum (termites).
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Post Reply