Can I ask for cash at closing?

[Adam Craig]

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.

[Michael Smith]

@Adam Craig if you're using a Conventional loan, for the purchase of an investment, interested party contributions cannot exceed 2% of the contract price.