When it comes to selling your home, making it stand out in the market is crucial. That’s where Compass Concierge steps in to offer hassle-free solutions that can help you sell your home faster and for a higher price. One of the valuable components of the Concierge program is Concierge Capital, which provides you with financial assistance to prepare your home for sale. In this article, we will explore how Concierge Capital can help you enhance your home’s marketability and simplify the process of preparing it for sale.
How Can Concierge Capital Help You?
Concierge Capital, made available by Notable, an independent lender, offers clients a 0% APR loan with no upfront costs or hidden fees. This loan allows you to invest in your home to make it more appealing to potential buyers. Whether it’s upgrading appliances, enhancing lighting fixtures, painting, roofing, landscaping, or even addressing post-inspection repairs, Concierge Capital covers a wide range of common use cases and allows you to transform your home with ease.
How Does Concierge Capital Work?
Step 1: Apply for a Loan
Once you’ve signed an Exclusive Listing Agreement (ELA) with your Compass agent, you can apply for Concierge Capital. The application process is quick and easy. Simply complete the loan application through Notable’s website, providing the necessary information, including the name of your Compass agent. Notable’s underwriting team will review your application, and you can expect a response within three business days. Please note that homes held through LLCs and new development homes are currently ineligible for the Concierge Capital program.
Step 2: Agent Confirmation & Release of Funds
Upon conditional approval of your application, your Compass agent will be notified to confirm that you have signed an Exclusive Listing Agreement. Once confirmed, funds will be disbursed to you via a Concierge Capital Debit Card. You can start using the virtual card immediately, while the physical debit card will arrive within 5 to 7 days.
Step 3: Complete Your Concierge Project
Working closely with your Compass agent, you’ll select and engage vendors to carry out the necessary work on your home. You can use your Concierge Capital Debit Card to purchase home improvement materials, staging props, and even moving and storage goods. If you need to pay vendors using cash or check, you can request a cashout or a direct check payment via your Notablefi.com portal.
Step 4: Notify Notable of Closing & Repayment
Concierge Capital funds are due back to Notable either at the close of sale or the first applicable milestone according to your lending agreement. When your home enters into contract and a sale becomes pending, you or your agent must notify Notable of the upcoming closing. A final invoice will be issued seven days before the closing date to allow you to utilize any remaining funds.
Your Questions, Answered
To address any concerns you may have, here are answers to some frequently asked questions:
Q: Does applying for Concierge Capital affect my credit score or future loan eligibility?
A: In almost all cases, no. However, consumers in California borrowing less than $10,000 may have those borrowings reported to a credit agency.
Q: How long does the Concierge Capital application process take?
A: Most applications are quick, but additional documents may be requested in certain cases. Timely responses to Notable’s requests will ensure a smooth process.
Q: Are there any upfront fees or interest charges?
A: No, Concierge Capital is a 0% APR loan with no upfront fees.
Q: What if my vendors don’t accept debit cards?
A: Notable allows sellers to receive funds directly in their bank account or request a check to be sent to the vendor. Proof of invoice or a scope of work document may be required for requests over $5,000.
Want to Learn More About Compass Concierge?
If you’re interested in discovering more about the benefits and options available through Compass Concierge, I would be delighted to provide further information. Contact me today to learn how Compass Concierge, including Concierge Capital, can help you maximize the potential of your home and achieve a successful sale.