If I were negotiate with the seller receiving that they would write me a $15,000 check after closing for repairs, would the bank have a problem with that? That would be greater than my down payment.
You would have to have the money escrowed, and bids done with estimates to show where the money is going. It wouldn’t be a check handed to you at closing.
Thanks for the response.
What if it wasn't specifically for repairs or if it was done "under the table" as they say?
I am not trying to pull one over on the bank. I an just curious as to the legal implications of such a deal.