What home buyers should know about TRR
TRR, or, “treatment, repairs, and replacements,” is an important phase of the homebuying process. TRR comes after TRD, or, “time reference date.”
TRD is the beginning of a prescribed time span where the home buyer can do all of the inspections and investigations towards the property they intend to buy. This time is 10 days (unless otherwise specified) after the TRD date.
After this 10 day window, the buyer must submit a TRR form to the seller. The TRR form details which treatments, repairs, and/or replacements the buyer wants the seller to make on the house before they buy. The TRR form, which the buyer and their agent with work on together, will be built off of the home inspection report. The home inspector can help answer questions and help buyers decipher the report. Once the form is turned in, the seller and buyer have seven days (unless otherwise stated) to negotiate these repairs.
After the TRR work begins, we recommend that the buyer keep the seller accountable by asking that only qualified and licensed professionals work on the repairs, and ask for documentation and invoices for all of the TRR work. The seller must have these repairs done by the closing date.
Many home inspectors (including Forever Home Inspection) can perform an inspection after the TRR has been done as well, to make sure everything has been completed properly. Home inspectors will often offer lower prices if the buyer has already had a pre-TRR inspection with them.
And that’s it! A real estate agent will keep track of all of these dates. As a home buyer, your job is to hire the best home inspector you can, ask questions, and empower yourself to make the best decision possible on your new home.
Sources:
https://www.kaypratt.com/selling-your-home/important-deadlines-when-selling-your-home-in-oklahoma/
