I'm not really sure how the seller's Realtor can give a "credit" to the buyer, whent he buyer paid nothing to the Realtor. This really just seems to be a "gift" of downpayment to the buyer from a third party, and it should certainly be disclosed to the lender. I'm not really sure how that would be shown on the HUD-1, but I would make sure I fully disclosed the situation to the lender in advance of closing and get their written approval.
This is really just "off the top of my head." It starts to give me a headache when I think about the ramifications of the Realtor being the seller's agent in the transaction. Is this actually a seller's credit, or is this an independent gift from the Realtor? Not really sure. It seems to be coming from the Realtor's commission, not out of the seller's funds, but it sure is murky.
Best,
Robert A. Franco
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