“I’m looking at a home that needs lots of work. Is it possible to get a carpet allowance so I have some of the money to take care of the work?”
It amazes me that every few weeks a supposedly professional real estate agent will send me an offer asking for a “carpet allowance”.
Lenders do not allow credits for “carpet allowances” or any kind of repair or upgrade. Lenders only allow credits for actual closing costs. You can’t call it anything else.
Possible exception: VA allows the seller to pay off some of the buyer’s debts.