Money back at close - Posted by Todd

import · January 10, 2003, 8:23am

Posted by Natalie on February 23, 2003 at 23:44:44:

Is there a limit to the seller’s “incentive”? Is this different than the x% (usually 6%) cap on seller’s concessions? (I think the limits depend on the lender, correct?)

import · January 10, 2003, 8:23am

Posted by Todd on January 10, 2003 at 09:23:35:

John,

I have a CPA who said that it is perfectly legal to set up a close whereby I state that the seller will give me $X amount back at cloe as an “incentive to buy” the house. Is this legal?

Thank YOu
Todd

import · January 10, 2003, 7:15pm

Yah. Ya betcha! NT - Posted by John Merchant

Posted by John Merchant on January 10, 2003 at 20:15:54:

x