CL100 Info
Buyers often negotiate for the longest possible due diligence period and can increase price and due diligence termination fee to convince seller to agree.
Because a repair procedure deadline or due diligence deadline may occur prior to the CL100 requirement to be within 30 calendar days of closing, SCR forms contain a wood infestation section that can operate even after a repair procedure deadline or due diligence deadline.
Below is a Clemson memo that the slang term "clear" termite letter is inaccurate to use.
The wood infestation section refers to the PRESENCE or INDICATION OF or DAMAGE cause by TERMITES or OTHER WOOD DESTROYING ORGANISMS.
This Clemson memo states that wood destroying organisms are active at 28% to 31%.
http://www.cisllc.org/pdf/wmc.pdf
Because the lender acting through the closing attorney is involved under any SCR financing contingency, the lender can require certain things be done prior to lending the purchase money.
Posted by : Byron King