How do you get cash back at closing?

but to a thrid party when they submit an invoice so its legal. so it would go to them, and not to me. a house is selling for 450,000. but its 10% below market value because it needs repairs. the repairs are about 10,000-15,000. do i make an offer for 450,000 then negotiate fron there? or do i put on the purchae contract or addendum saying%26quot; buyer will pay 460,000 and will have 10,000 go to an account for a thrid party with an invoice? %26quot; or %26quot;seller will give 10,000 cash back to an account%26quot; ?

how do you put it in a purchase offer without turning off the seller, or the seller agent , a seller agent will say %26quot; my client will NOT be involed in any cash back%26quot; becuase its illegal.....but if it goes to a thrid party its not illegal...so how do you present it?......or do i not have to....and escrow will take care of it......like%26quot; buyer pays 460,000 and 10,000 will go to an account%26quot; ?

How do you get cash back at closing?rate my professor

Our first house needed repairs when we bought it. We made our offer with the condition that $X would go to an escrow account to pay for repairs. All receipts for the itemized repairs were presented to the escrow company to be paid or reimbursed, and any money left over went back to the seller.

How do you get cash back at closing? loan

how about offering a price at $435K?|||You won%26#039;t get any of those past the mortgage company if you are planning on getting a loan to buy the house. And if you don%26#039;t tell the mortgage company, you are committing mortgage fraud.

Mortgage lenders are cracking down on the %26#039;cash-back at closing%26#039; deals because of the fraud that has occurred in the past few years.|||You can specify in your purchase agreement that the seller is to credit the buyer with $xxxx.xx at closing for repairs. This is often done pertaining to carpet. The seller may as a requirement have you accept the house %26quot;as-is%26quot;.|||Just purchase at 450k and simply open a Home Equity Line of Credit a week after you close on the purchase.

You don%26#039;t want to be caught in a fraud situation because of the cash back at closing.