Updated over 7 years ago on . Most recent reply
Kalo (Kyle) AtanasoffPoster
Pro Member
- Rental Property Investor
- Los Angeles, CA
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Credit request at closing
Hello BP colleagues,
What are the ways to receive credit at closing? I am in escrow on a duplex, conventional loan, and credit have requested is above the closing cost amount (with about 20k more). I do not want a price reduction, as the negotiated price will appraise, but rather receive a credit at closing which will use towards a few improvements.
What are the ways to receive the credit in escrow and outside of escrow? If outside of escrow, how to legally protect myself?
Best,
K
Most Popular Reply
As @Christopher Phillips stated, just accounting. Talk to your title agent and let them know what you’re looking to do.