Tricks To Increase Closing Credit from Seller?

[Kevin Danikowski]

I'm looking for a way to increase the amount of seller credit at closing. I have a deal for an agreed upon price i.e. 300k, but it's worth more, i.e. 350k. So i'm "purchasing" at this price while trying to maximize the amount of seller credit to get to the agreed upon price of 300k.

Conventional loan guidelines only allow 2%, but some other methods to increase closing credit is:

1. Have seller put more into security deposits

2. Increase the percentage of prorated tax credit to 140%

3. ???

I'm looking for other methods. Does anyone know any?

I've thought about:

1. A separate escrow account for after closing (this is mortgage fraud so wouldn't work)

2. A repair escrow for repairs needed on the property (I don't know if this is allowed thought). 

Any other methods are appreciated. 

[Patricia Steiner]

I'm still stuck on the word "tricks..."  

It sounds like you're trying to rewrite the deal by utilizing seller credit - but it's a limited opportunity vehicle.  It just is what it is and it's never going to be what you're trying to transform it into being.  What you're proposing will raise red flags and compromise the deal.  "The trick" is to let the price drive the deal. If you don't like the price, don't do the deal.