During the home buying process, the buyer is seeking to figure out what is the true condition of a home. Even if the seller is 100% transparent, there are just some things they might not even know. This is why a home inspection is so important. A home inspection provides a knowledgeable, professional, and neutral opinion. But there are other steps the buyer and seller can take together that will help both reach the agreement to sell- which is the goal of both parties!
After the buyer has made an offer on the house, the TRR phase begins. TRR stands for “treatment, repairs, and replacements.” This is a designated time span (usually around ten days) where the home inspection happens and the buyer can do any other type of investigation of the property. When this time is over, the buyer (with help of their agent) fills out a TRR form for the seller. The form lists the treatments, repairs, and replacements the seller needs to do before the buyer is willing to buy. The seller then has a week to respond and negotiate. Once things are settled, the TRR work begins.
We recommend that before filling out the TRR form, the buyer should request all maintenance records for the house that the seller has. This can even be helpful to get even before having the home inspection done. Why?
What kind of paperwork should the buyer try to get from the home seller?
The seller should try to provide all manuals and warranties, on everything from HVAC systems to washer/dryer. Keep track of warranties that are electronic.
The contact information of contractors who oversaw big remodels or installations.
Record on paint colors, tile, or carpet types are helpful if the buyer needs to replace or replenish something.
Maps, blueprints, HOA documents, improvement records, previous home inspection reports, utility bills, receipts, and invoices. Anything related to the home that can give a clear picture of its history and how to upkeep it.
Paperwork over preventative maintenance and regularly scheduled check-ups show that the seller has been proactive about keeping their home in good shape, even before issues occur.
In addition to getting this paperwork, the buyer should also insist on getting all maintenance records for work done after the TRR period. Getting the paperwork on the negotiated work will hold the sellers accountable to hire qualified and licensed professionals and will help the buyer should anything go wrong with the repairs. Keeping a paper trail on the house that is invaluable. Knowledge is power for a buyer.
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Sources:
https://www.homelight.com/blog/home-maintenance-records/
https://www.homelight.com/blog/documents-needed-to-sell-house/
