In real estate, a TRR stands for treatments, repairs, and replacements. Per every contract, the buyer decides what inspections are performed; this list of repairs will be submitted for the seller to complete. A TRR can refer to many concerns, such as termites, electrical issues, mechanical problems, plumbing repairs, or any items that might not be up to code.
Whether you are a first-time home buyer, or a first-time seller, have no fear! A TRR is a request by a buyer of repairs they would like to be completed with a certain amount of money that was agreed to in the contract by the buyer and seller. The seller(s) and the listing agent are responsible for getting repair estimates for anything the seller can’t do or doesn't want to repair themselves.
Here's an example of a typical TRR: if the contract shows $1000.00 in repairs to be completed by the seller, and the buyer’s list of repairs goes over this amount, the seller has a few options:
So, does a TRR sound bad? I hope not! At the end of the day, your agent is here to walk you through it. We act as you're ultimate resource on making essential decisions during the transaction. Before pen meets paper, you'll be informed and confident in any decisions you have to make. And I should know! For my first two years on this team, it has been my job to answer client calls at any time, day or night, and resolve any pressing issues that may arise.