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Marian Smith
  • Real Estate Investor
  • Williamson County, TX
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How can I give buyer money without freaking out bank?

Marian Smith
  • Real Estate Investor
  • Williamson County, TX
Posted Aug 14 2015, 09:13

I have decided it is time to sell a rental property.  It is totall remodeled and quite nice, but because it was purchased as a rental the kitchen countertop is "recyled" off white Corian.  i am envisioning the countertop being the easier of two "objections" to the property.  (One cannot be fixed as it is messy neighbors across the street.)

Can I fix the countertop objection with giving the buyer money for a new countertop at closing?

This is an entry level house.  Buyers will be tapped out at closing.  But the other comps at my sales target have granite...doesn't everyone nowdays?  I hate to go through the hassel and expense of replacing the Corian unless I have to....and if the house doesn't bring what I want I will rent again.  

Can I escrow money for a countertop...or what?  I have often wondered why the 203 loans used instead of buyers negotiating a higher price  and getting a repair/change what I don't like escrow account...appraisals are just not that accurate...5% give or take...From what I can see of sales prices.  

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