When negotiating final contract price - is there any advantage in asking sellers to lower sales price vs. taking cash back at closing?

My husband and I are buying a home that is for-sale-by-owner. There are no real estate agents involved, but both we and the sellers have laywers. We have made it through - getting a P&S drafted/signed, inspections, following repairs from inspections and appraisal. The appraisal came in at $5K below contract price, so we asked the sellers to lower the price of the home. Long story short - we have agreed to meet half way. So, this is $2,500. Is there a difference in having an addendum to the sales contract to lower the home price by this amount vs. the sellers giving us a cashier's check? Also - we are buying a piece of furniture from them (a kitchen table/chairs), which will cost $200. They have suggested to factor this into the amount of money they 'owe' us, so they will give us $2,300 - prefferably by a cashier's check rather than lowering the price of the house and changing the sales contract. I am thinking this $200 part should be a COMPLETELY separation transaction. But does this matter? And either way - don't we need an addendum to our sales contract? And is there any benefit to one approach over the other? Thanks!
(0) | asked by: Donna Zwirner | share | 2 hours ago | Report
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