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Updated over 2 years ago,
Seller credit / equity gift
Hi,
I wonder if someone can give me an advise of how better to approach a deal, I'm looking to buy a 2 family house in NY for 600k, with 20% down and 80% mortgage, the seller agreed to give me 60k as seller credit or equity gift toward the down-payment so he will get 540k, The seller is not my relative, can I do it to help me with the down payment? Which way is better to go with?
The property will apprise for 600k no problem.
Thank you