Money back from seller after closing

[Dain Hungelmann]

I'm in negotiations with a seller about buying a 4 plex with an appraisal value of 110k. Asking  price is 85k. I want to get the loan for the 110k and be able to use the difference as my 20% down.

20% of 110k is 88k, enough to cover my 20% and 3k left over for some closing costs. I have a lender that will stricture the deal using the equity but i's a 5 yr. ARM and the rates are 7-9%. I could refi out of it but don't want to pay the closing costs twice.

Thought about just asking the seller for the 20% back at closing.

Any sugestions.

How do I word it with the seller to get the $ back at closing,