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Old 03-10-2009, 03:11 PM
 
6 posts, read 20,866 times
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I'm in the process of buying a house using a FHA loan, the seller is already giving me 3% in closing costs. He is also giving 5k in decorator allowance. How should my agent write into the contract the 5k allowance? Should it just be "Seller will pay 5,000 for decorator allowance"?
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Old 03-10-2009, 03:18 PM
 
Location: Salem, OR
15,481 posts, read 40,157,975 times
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Your agent needs to talk with their principal broker or attorney to find out how they want allowances written up in contracts.
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Old 03-10-2009, 04:43 PM
 
Location: Just south of Denver since 1989
11,810 posts, read 34,252,701 times
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A better option is to discuss what might fly with your lender.
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Old 03-10-2009, 04:54 PM
 
6 posts, read 20,866 times
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thanks, I talked with lender. Decided to just do it by reducing sales price. Lender said otherwise it would add unneeded complications.
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