Cash back after close?

[Sterlingedge]

I have been trying different techiques to get cash back after closing, is this legal?  The person is selling the house for 80K its worth 104K I want to finance 95K and have the seller cut me a check for the 15K. Is it legal for the seller to give the buyer money after close?
Texas

[ericgleason]

Yes, but it must be disclosed on the HUD1 settlement statement.  The downside is that most lenders will not allow the buyer to receive funds back at closing.  If you are looking for a repair allowance try a FHA 203b loan or find a local bank to provide the mortgage loan instead of a traditional mortgage lender, and have the local bank set up an escrow account for your repairs.  If you just want the money and it's not related to the house you will probably need to get a 2nd mortgage after closing.  It's not illegal to receive the funds so long as everything is disclosed in the purchase contract and subsequently in the HUD1 settlement statement.  (Colorado)