Real Estate Agent ?????? (loan, broker, buyer)

[pebbles829]

What does it mean when a contract says the following:

"Seller will pay $1000 incentive to buyer's agent if under contract by 10/31/08. Must close to receive bonus."

Since I was getting sapicious about my loan I took the contract, good faith estimate & condition of loan to another loan officer. She advise me that everything was good but the $1000 goes to broker & that the broker is supose to give it to me but that doesn't sound right when I read it. To me it sounds like the buyer's agent is supose to get this not me. What do you think?

Please Advise ASAP.

Thank you

[pebbles829]

Could anyone give me an answer
Thank you

[southgeorgia]

it means exactly what it says.

the seller is offering a $1k bonus on top of commission to the buyer's agent if they get it under contract by 10/31 and then closed. you do not get the money. the seller is paying this out-of-pocket.

your agent can explain these things to you.

[lulupalooza]

southgeorgia is correct.