RE: I need help on Repair Credit...

[Maurice Nusom]

Hi,

I am having a little issue understanding 'Repair Credits' when doing a multifamily deal.

Is the repair credit subtracted from the asking price? and you state to the seller that my offer price is based from the repairs I see each unit and common areas need.

or 

Is it something you ask for during the LOI phase, and you get a check at closing from the seller.

If someone could explain how this works, I will be much grateful.

Thanks in advance