2007-09-15 09:36:06 · 3 answers · asked by me 1 in Business & Finance ➔ Renting & Real Estate
It all comes into play at the closing table. Not before! So you have time and all it means is that you will receive what ever amount that you "allowed" less than previously expected as a part of the check you get at closing. Some companies let you put in new carpet or like Home Depot will let you buy things for fixup and maybe not have to pay for a year? There are ways to get your house ready for sale if you call in a professional-the REALTOR, you will learn more about these kinds of things. So for example if you had expected 30,000 back at closing and give a $2000 carpet allowance-they get an extra 2K and you get 28K. Good Luck
2007-09-15 09:43:32 · answer #1 · answered by helprhome 5 · 0⤊ 0⤋
Well such as a carpet allowance? It means that you are willing to replace the carpet up to a certain amount of money. Most cases it would need to be done prior to closing.
2007-09-15 16:49:39 · answer #2 · answered by Alterfemego 7 · 0⤊ 0⤋
There may an outstanding issue.
For example:
The heater does not work. You provide an allowance of $2,000 to repair or replace it.
The remainder of the money comes back to you.
How does this sound?
2007-09-15 16:45:28 · answer #3 · answered by Steve B 6 · 0⤊ 0⤋