• **For Sellers who choose to sell using Compass Concierge: Compass Concierge is designed for home sellers who want to flip their own homes before selling using our funding, at no extra cost or interest!

  We have partnered up with Notable Capital to offer our sellers funds to get their home market ready. Sellers get fronted up to $50,000 at no cost or fees or interest ever! This money can go towards painting, landscaping, minor updates, major updates, or any moving costs. You get a credit card in the mail after being approved for this program and voila the funds are available for you to pay any vendor you choose. Whatever you use on the card is paid back through escrow. Not a dime more, no interest, and no fees are charged to you. This is exclusive to Compass! Other places charge you more to get the funds.
• How it works:

  - We help you determine which services can deliver the greatest return on your investment. The entire process is designed for speed, so that work can begin — and your home can sell — as quickly as possible.
  - Sellers can choose their own vendors or get a list of our trusted vendors.
  - Once you decide on what updates you would like to do in your home, whether it's just painting or a major renovation, we offer a design and setup service. We have redesigned many spaces including fireplaces, kitchens, and bathrooms. We know where to source all the material, we know what's in stock and choose materials based on your budget and timeline. We also know what paint colors are trending and can help you maximize your efforts in making your home stand out and be irresistible to home buyers. This is a huge added value to any seller and we can provide this service for you along with listing and selling your home.
  - Most sellers just give us keys and so Gigi, go…..This is where we shine at what we do and we have a ton of case studies to back this up. An average of 7 to 8 properties a year are designed, funded, and sold using this amazing program. Results are: Average of 12% profit gain to the sellers.

Key Terms

• Appraisal

  Assessment of the property’s market value, for the purpose of obtaining a mortgage and performed by a licensed appraiser.
• Contingency

  Certain criteria that have to be met in order to finalize the sale.
• Earnest Money Deposit

  Buyers in California usually deposit 3% of the purchase price to show that the buyer is serious about purchasing the home. It is usually refundable in the event a contingency in the sales contract cannot be met.
• Assessed Value

  Value placed upon property for property tax purposes by the Tax Collector.
• Conventional Mortgage

  A mortgage or Deed of Trust not obtained under a government-insured program such as FHA or VA.
• Fixed Rate Mortgage

  A loan on which the interest rate and monthly payment do not change.
• Closing Costs

  Expenses incidental to a sale of real estate, such as loan fees, appraisal fees, title insurance and escrow fees.
• Equity

  This is the investment a homeowner has in their home. To calculate equity, take the market value of the home and subtract any mortgages or liens against the property. The amount leftover is the amount of equity you have in the home.
• Credit

  Money given to a buyer from a seller through escrow or closing.
• Home Warranty

  A policy that covers certain repairs (e.g. plumbing/heating) of a newly purchased home for a period of time, typically one year.
• Closing Statement

  The statement which lists the financial settlement between Buyer & Seller, and the costs each must pay.
• Escrow

  A neutral third party that handles the transfer of any money during the sale of a home from initial deposit to final funding and closing.
• Preliminary Title Report

  A report showing the condition of the title before a sale or loan transaction. After completion of the transaction, a new title insurance policy will be issued.
• Title Insurance

  Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.
• Recording Fees

  Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records.