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Updated about 9 years ago,

User Stats

69
Posts
8
Votes
Bhanu P.
  • Investor
  • Katy, TX
8
Votes |
69
Posts

Can Buyer receive cash back@closing frm Buyer's agent in cashdeal

Bhanu P.
  • Investor
  • Katy, TX
Posted

Can Buyer receive cash back @ closing from Buyer's agent in cash deal?

- I am in a situation where I made a cash offer @ 156K with majority of the closing costs paid by seller (owners title and survey) & Buyer's agent will get full 3% commission

- Now I was countered it by Seller  to make the purchase Price to be at 158K and Buyer's agent to pay 2000$ at closing (my agent is ok with it and the amendment for this was signed by both Seller and Buyer).

My question is since I do not have 2000$ worth of closing costs in this cash deal, can I still get that rebate refund at closing (on HUD) so that I can reduce the amount that I needed to bring to closing table by that much or is it not even allowed?

Additional info: This is SFR for Investment purpose & MLS listed property in Texas

Your help on this by answering this query would be greatly appreciated...

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