You need to have an inspection, make repairs, and get the house under a bond. When we lived in Charleston, SC, we had to have a bond...termites are notorious there. We now live in NC and not many people we know have termite bonds b/c they are not prevalent here, but we still have one b/c we had an experience in SC with termites. They had infested the back wall of our garage and a lot of boards and sheet rock had to be repaired. Thankfully because of the bond it did not cost us anything. So, if all you have is a board now that has termites, you are fortunate and should consider this your opportunity to get your house under a bond before anything else crops up! Good luck, I know it is unnerving...