When I started in Real Estate as the assistant to a Realtor in Killeen, I was instructed that it was best not to spend our client's money until after they know for sure that they're going to buy the house. That means not ordering a new survey, pest inspection, appraisal etc. until after the buyer's option period was over and they were fully committed to purchasing their next home.
I was a party to too many transactions where the termite inspector was sent out to inspect the home a week before closing and found termites. The buyers were upset (mostly because they didn't understand the full implications or advantages of treating for termties) finding out a week before closing that the house they're purchasing has termites. The sellers were upset because there is an additional cost associated with the transaction that they are only finding out about a week before closing.
However, since I've become a Realtor myself I've adopted a new philosophy on the matter. Now - whenever I represent a buyer I STRONGLY advise that they hire a termite inspector during their option period. That way - if termites are a problem for the buyer they have the right to terminate the contract during the option period and not risk their earnest money. Termite inspections are only valid for 30 days so if your closing will take place more than 30 days from your option period, the buyer may have to purchase an additional termite inspection just prior to closing. Buyers need to decide what value they place on having this inspection completed while they have the opportunity to back out of the contract without reprocussions.
In Texas - termites infestation is considered a lender required repair. That means that the lender will require that the termites be treated before they will loan the buyer the money to buy the house. I talked to Steve with Killeen Pest Control the other day and he told me that once a home is treated for termites the chemicals used continue to prevent future termites well into the future. He explained that a home that's never had or been treated for termites may actually be more prone to termites in the future than a home that has been treated for past termites because of the preventative nature of the treating chemical. I didn't realize that. Although a termite treatment will offer prevention from termites for a homebuyer it's still important to evaluate the amount of termite damage if termites are found and decide whether it will need to be repaired to protect the structural integrity of the home in the future.