I have a property I am interested in that was partly burnt out due to internal fire. There is an insurance payout of around 20,000 for repairs.
Can I make a settlement on the property (lets say it's worth $200,000) and get the vendor to payback to me on settlement the 20,000 from insurance and an additional 20,000 for work that I deem needs doing to finish the property?
That would mean settlement price of 200K paid to vendor on settlement and vendor pays me 40K on settlement.
Can I make a settlement on the property (lets say it's worth $200,000) and get the vendor to payback to me on settlement the 20,000 from insurance and an additional 20,000 for work that I deem needs doing to finish the property?
That would mean settlement price of 200K paid to vendor on settlement and vendor pays me 40K on settlement.