TLC is a term that can mean just a little clean up, and range all the way up to a total renovation. The exact acronym is Tender Loving Care. As several agents have mentioned, the term is just a heads up that it is not move in ready.
Kiamazulu M. Ferreira
Pantiga Group Inc.
Web Reference: http://www.pantigagroup.com
The level of R&R will generally be determined by the new owner. My recommendation when encountering this kind of situation is to contact the listing agent for a clarification. They would best be able to respond.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
All the best,