iCrowd Newswire - Sep 11, 2020
Homeowners throughout Houston can now buy the home they want before selling their old one. The Knock Home Swap, launched today, lets homeowners get pre-approved for a competitively priced mortgage from Knock to buy their new home, avoiding living through prep work and showings while still selling their house for maximum price.
With today’s launch in Houston, the Home Swap is now available to homeowners in the four largest metros in Texas, including Austin, Dallas/Fort Worth and San Antonio, and seven markets nationwide.
“Now, homeowners across a large portion of Texas have a safer and more certain and convenient way to buy before they sell,” said Knock Co-Founder & CEO Sean Black. “With the Knock Home Swap, a homeowner can make a non-contingent offer on the home they want and avoid the hassles of living through repair work, open houses and showings by moving before they work with their local agent to prep and list their house on the open market for the maximum sale price. We are taking the stress out of what is an overwhelming and complicated process, even when everything goes according to plan.”
Vanessa Sutton and her husband recently used the Home Swap to buy and sell a home in Dallas. “We were able to actually feel the confidence to buy here In Texas where the market is very busy and there are multiple-offer situations. Knock provided the proper funding so that we could make a non-contingent offer, allowing us to buy our new home and then work on the sale of our existing home. At first, I thought this can’t be this easy and this simple, but it was,” she said.
Offered exclusively through local real estate professionals who have been trained as Knock Certified Agents, the Knock Home Swap provides a fully integrated and competitively priced mortgage, an interest-free bridge loan to cover the down payment on the new home as well as mortgage payments and up to $25,000 for home prep and repairs on the old house.
With the Home Swap, a consumer immediately takes ownership and begins earning equity in their new home. Once settled, they are able to prep and repair their old house so they can sell it for the highest possible price. As part of its Home Prep Concierge, Knock provides access to its approved contractor network and manages the payment of all bills upon client-approved completion of work. Additionally, Knock provides a backup offer on the old house in the unlikely event that it doesn’t sell within six months. Ninety percent of Knock homes sell in 90 days or less.
Knock is partnering with Berkshire Hathaway HomeServices Premier Properties and RE/MAX Fine Properties to enable Houston homeowners to “swap” their current house for their dream home.
“Berkshire Hathaway HomeServices Premier Properties is delighted to be among the first in the Houston area to participate in the Knock program,” said Stacy Mathews, Real Estate Broker/Owner of Berkshire Hathaway HomeServices Premier Properties. “The Home Swap is a convenient resource for homeowners who need to buy before selling, making the process seamless and cost-effective for everyone involved.”
“Safety is top of mind in today’s environment, and the Home Swap gives people a safe way to sell their home without having to sell to an iBuyer for a loss,” said Nimesh Patel, Broker/Owner of RE/MAX Fine Properties. “The Home Swap is a valuable tool for our agents to offer their clients. We can help them buy the home they want, move comfortably and then interest-free make the repairs necessary to list and sell their home. They get 100% of the value of their home without the stress that comes from buying and selling a home the traditional way.”
Consumers have access to the Knock Home Swap through 8,000 agents in Atlanta, Austin, Dallas/Fort Worth, Denver, Houston, Phoenix and San Antonio. Knock plans to expand the program to at least 11 markets by year-end and operate in at least 21 markets by the end of 2021.
Knock makes it easy for consumers to swap their current house for their dream home. With the Knock Home Swap™, homeowners get the certainty of buying the new home they want first and the convenience of selling the old one after, while saving money in the process. Knock pioneered the Home Trade In in 2017, and perfected it in 2020 with the launch of the Home Swap. Today, homeowners work with the local Knock Certified Agent of their choice to buy and move into their new home before selling their old one. They skip the hassles of living through repairs and showings, pay only one mortgage at a time and have home prep covered upfront so their old house sells on the market for the highest possible price.
Launched in 2015 by founding team members of Trulia.com, Knock has raised more than $600 million in debt and equity, from top tier investors, including RRE Ventures, Foundry Group, Redpoint, Greycroft, Corazon Capital, Correlation Ventures, Great Oaks Venture Capital and FJ Labs. The company is headquartered in New York and San Francisco and offers the Home Swap in seven markets with more cities on the way. Learn more at www.knock.com.
About Berkshire Hathaway HomeServices Premier Properties
Berkshire Hathaway HomeServices Premier Properties in Houston, Texas was founded in 1985 as a full-service real estate brokerage. Our partnership with Berkshire Hathaway has provided the opportunity for us to grow our footprint in Houston, Lubbock, Tyler, Amarillo and Austin. As the largest Berkshire Hathaway franchise in Texas with over 500 real estate professionals focusing on the clients’ needs and best interests, we pride ourselves on “Becoming the Forever Company” in Texas.
About RE/MAX Fine Properties
RE/MAX Fine Properties is the largest single RE/MAX office in the nation and the #1 producing office in a 250-office statewide RE/MAX network. Since 2008, the brokerage has grown from 45 agents to over 160, with plans to keep growing. RE/MAX Fine Properties and their agents are actively involved in supporting the annual Komen Race for the Cure and have developed a partnership with the Texas Sentinels Foundation to provide wounded veterans with fully furnished, debt-free homes. In addition, the brokerage has been instrumental in helping RE/MAX offices nationwide raise over $107 million for Children’s Miracle Network Hospitals and our own local Texas Children’s Hospital.