What's a TIR when I'm selling my Maui home?
Buying and selling a home can be confusing when you don't know the terms that get tossed out casually by the Realtors and other real estate professionals. If you ever wondered what a TIR is, let me explain. TIR stands for Termite Inspection Report, and it's one of the steps we go through when selling a residential property in Hawaii.
Yes we have termites in Hawaii, because they love the warm weather too. Homes made of wood, or with wood trim are susceptible to termite infestation and damage. Older homes are especially prone to termite damage if they were built without treated lumber. These days most homes are built with lumber that has been pretreated to repel insects, but you might still find termites in untreated wood that you put around windows or doors perhaps. Even furniture can harbor termites, though the inspection won't be that thorough!
Section L: In our Hawaii State purchase contract, Section L deals with language about termites and termite reports. It's customary for the buyer to ask the seller to provide and pay for a TIR before closing. If the TIR shows evidence of live termite infestation, then it's also customary for the seller to pay for treatment to kill the bugs, usually by way of tenting the home if it's severe, or spot treating if it's minor. Of course, as with any contract, it's all negotiable, but this is how it's usually done.
The seller is required to disclose whether or not they know of any termite damage. If the TIR reveals that termites are present, this must be an additional disclosure.
Single family homes and condos will usually require a TIR if a mortgage is being obtained.
Our Hawaii Residential Purchase Contract is currently 13 pages long and I would be happy to go over it with you if you have questions.