Submitted by SD Realtor on January 13, 2008 – 5:56pm.
I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.
SD Realtor
Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.
