"The program covers upfront costs related to a variety of services sellers may need to use to prepare their home for the market. Through the program, sellers with properties priced up to $4 million can borrow the lesser of 5% of their home's list price or $50,000 in order to pay for things like non-structural renovations, staging, painting, landscaping and storage among other things."
"The Concierge program does not require payments of principal, interest or fees until the home sale closes, the listing is canceled or 12 months have passed without a sale. According to the release, interest only accrues on the funds sellers draw, not on the full loan amount. Sellers are typically approved for funds within three business days, and they may select their own vendors for the repairs."
"Concierge gives @properties Christie's International Real Estate's home sellers a significant edge in today's market and equips our agents with a powerful new tool to win and market listings, Mike Golden, co-founder and co-CEO of @properties Christie's International Real Estate, said in a statement. By providing fast, easy access to capital, Concierge removes one of the biggest barriers to bringing a listing to market in optimal condition and creating a more seamless, successful experience for everyone involved."
Concierge provides upfront financing for home-preparation costs for sellers, covering services such as non-structural renovations, staging, painting, landscaping and storage. Eligible sellers with properties priced up to $4 million may borrow the lesser of 5% of the home's list price or $50,000. No principal, interest or fees are due until the home sale closes, the listing is canceled or 12 months have passed; interest accrues only on funds actually drawn. Typical approvals occur within three business days. Sellers may choose their own vendors for work. Concierge is powered by Notable. Compass began offering a similar Concierge service in 2018.
Read at www.housingwire.com
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