As sdrealtor corrected me on this issue, I will correct you regarding the termite clearance. Lenders do not require a clearance unless the buyer requests a clearance in the purchase agreement. (fact that sdrealtor posted and I did verify)
As far as the transfer goes, since the home may be a transfer of some type by relatives there “MAY BE” an exlcusion you can take advantage of to escape a reassessment however that is PURELY SPECULATIVE on my part.
My main concern is the location of the home. I have been out to Santee and Lakeside alot over the past year and I have watched it come down hard and I really do not see much respite as the downtrend continues. I know there are alot of emotions involved with family owned homes so that is always a tug in the other direction. If you get a good deal on it and can cash flow it positive then perhaps keeping it is a good way to go.
I would indeed get the termite work done just to get it done. Pretty much every home has drywood termites. If you have subt termites then that is bad. I know of many a home that has been treated unsuccessfully for subt types and it is a very tough process that sometimes requires recurring visits, drilling holes in the slab get to them, etc… I would guess you may not have these types. One thing you can do is pull up your carpet in spots and look around. Also check where there are areas of moisture such as shower drains and other things like that. The root of the evil for subt types are moisture under or in hairline cracks in the slab. If you pull your carpet up in a few spots and find them crawling around that may be a bad sign. If you see shavings (powder) from above on the ground it is most likely drywoods so no big problem there.
I am NOT a termite expert. Consult a qualified pest control agency.
