Under Contract | 6 of 12 | Getting money instead of repairs

Hi, my name is [YOUR NAME]. I am a Realtor here in [YOUR CITY].

Once we have a home inspected and we ask for repairs, the seller may want to just give you money.

While it is certainly something to consider, we have to be careful. If you are obtaining a loan, the lender will not allow the seller to give you a check. That is considered mortgage fraud, so obviously that will not work.

One way to handle it is to ask the seller to pay for your closing costs instead.

Another way is to get them to write a check made payable to the contractor of your choice. You just have to make sure you lender is ok with this.

The real question is should you deal with the repairs yourself after the fact?

In some cases, this might be better. You can get the money and do the work yourself, or choose to upgrade an item in addition to just getting it fixed.

There can also be drawbacks… like getting more expensive to deal with after the fact.

If this comes up, we will discuss the best approach to protect your interests.

Ok, that’s it for now!

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Thanks so much again and feel free to pass this along to your friends, neighbors and even your work colleagues if they need my help.

Have a great day and happy house hunting!

Bye!