Contract Question
I will be submitting a contract on a 3 unit property and the only thing I am not sure of how to include is the cash back part. I want to include in my offer that, at closing, the seller is to write me a check for x amount to cover repairs that will be done to the property.
How and where do you word that into the contract?
Beth
What percentage are you looking to get back? You want to have that on the HUD and have the lender be aware of it. 3% back is usually no problem, some lenders can do up to 6%.