Home Buying in North Dakota>Question Details

Jpf125, Home Buyer in North Dakota

Can I get cash back at closing to do landscaping/put up a fence?

Asked by Jpf125, North Dakota Tue Jan 17, 2012

I am in the beginning process of choosing to have a house built and am wondering if it is possible to receive about $4,000 cash back at closing to finish landscaping and put up the fence myself? I enjoy landscaping work and would prefer to do it myself. Also, the house would probably be finished in the winter where it's impossible to do landscape work.

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The correct person to ask is your loan officer, make sure the mortgage allows you to get cash back. if there is unfinsihed work, mst time sthey mandate it is put in an escrow account, You should make it part of your negotiation with the seller. Most times it is better to have the seller pay 3% of your closing costs and then you save the cash you would have paid to in closing costs to use for lanscaping without the bank dictating what you can and can not do and dealing with escrows.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Jan 17, 2012
The question is where will the $4000 come from? The builder can kick back some funds but I doubt he will want to without raising the price of the house up $4000 first. Then the lender might have a problem with that and you have to have the appraisal come in high enough to cover the extra $4000 Mr Builder adds to the cost so he can give you the $4000. Check with you builder and lender first.
0 votes Thank Flag Link Tue Jan 17, 2012
Anything is possible. Communicate this with your attorney to see if this can be done.
Web Reference: http://ninaharrishomes.com
0 votes Thank Flag Link Tue Jan 17, 2012
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