I live in Wisconsin. I recently made an offer to purchase a home and it was accepted. In the meantime, I ran into significant expenses with inspection issues in the home I was selling. Because of this, I don't have the money to cover closing costs.
The offer I submitted has expired. Can I amend the offer by increasing the amount and asking seller to pay closing? Can I cancel the offer and write a new one for a higher amount asking seller to pay closing? Which is preferable, or is neither one acceptable? It's not a problem with the seller, but I'm concerned about raising red flags or complicating the loan process.