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Ask Curbed: Show Me The Money!

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A question from a reader curious to know how sellers can justify that high price tag: "According to my buyer's agent, a seller is claiming that 600K was spent in remodeling a house. My buyer's agent vouches that the house has been majorly re-worked and improved. Regardless, I'm having a hard time believing the makeover cost this much unless there was some huge mark up. The seller is using this alleged expense as justification for an even larger price jump from they're purchase price.

My question is are buyers within their rights to ask for an expense summary or some sort of a breakdown of the improvement costs, or are they supposed to just accept the seller's claims at face value? Can the prospective buyer say, in effect, "show me how you spent the money?"
· Ask Curbed: How Can I Find Commercial Foreclosures? [Curbed LA]