For my knowledge, 3% co-op is not for a loan. It means the builder will pay 3% commission to the real estate agent who brings the client in the First Time. Then, builder will pay the agent 3% after the escrow is being closed. Usually, the builder does not offer the co-op. The purposes for the builder to offer the co-op are:
1. The builder is very desperate and it ranges from 1-3%.
2. Attract the agents to bring in potential buyers.
However, if you visit the model home without an agent, the builder does not need to honor the co-op offer. Usually, if the builder offers the co-op, your agent must bring you in for the 1st visit. Must have your agent to sign in for you! Your agent has to represent you in order to get the 3%.
