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Updated almost 10 years ago,
Can I ask for cash at closing?
I buy and hold single family rental homes - Terms are standard 20% down.
I just started a strategy of increasing my offer price to get some closing fees paid for. For example. If the accepted offer was 50K - I would revise it to 53K with the agreement the seller will give me 3K towards closing. This reduces my out of pocked.
Can I use this strategy and just ask for cash at closing in addition to having the closing costs credit? I would be happier paying more for the home if its going to cost me less upfront.