Knock Home Swap™ and Knock GO™ (Guaranteed Offer) take the friction out of buying and selling a home, putting the consumer in the driver’s seat in today’s competitive housing market
NEW YORK (Dec. 16, 2021) -- Knock, the fast-growing digital homeownership platform that turns all buyers into cash buyers, announced today that Baltimore homebuyers and sellers can use the Knock Home Swap™ and Knock GO™ (Guaranteed Offer) to remove all financing and home sales contingencies on the home they want, giving them the edge in today’s fiercely competitive housing market. With today’s launch, Knock’s innovative home loan solutions are now available in 70 markets nationwide, up from 14 at the start of the year.
“If you are fortunate to be part of the 1% of the population who can afford to buy your new home before you sell or make a cash offer, the process is fairly simple. However, for the remaining 99%, buying and selling a home is an incredibly painful process, especially in today’s low inventory, multiple-bid housing market,” said Knock Co-Founder and CEO Sean Black. “Our mission at Knock is to bring certainty, convenience and cost savings to the real estate transaction, empowering everyone to realize their homeownership dreams in a stress-free way.”
With the Knock Home Swap1, a homeowner is pre-funded for a competitively priced mortgage and an interest-free bridge loan, which covers the down payment on the new home, home prep and up to six months of mortgage payments on the old house. Once they’ve settled into their new home, Home Swap customers are able to sell their old house on the open market for the maximum sale price without the hassle of living through repairs or showings. They also receive Knock’s 30-day closing guarantee,2, Home Prep Concierge and backup offer on the old house in the unlikely event that it doesn't sell within six months. Ninety-eight percent of Knock homes sell in 90 days or less, with 90 percent selling in 30 days or less.
Designed specifically for first-time buyers and others who don’t have a home to sell, Knock GO™1 combines a cash-backed, competitively priced conventional mortgage with a closing guarantee and appraisal protection, giving buyers and their agents the ability to make an offer that will stand out from other offers. Knock GO™ is backed by the company’s guarantee that it will fund the loan in the event it isn’t 100% clear to close in 30 days and help offset the difference between the sale price and the home’s appraised value3 at no additional cost.
Knock is partnering with HomeSmart to bring the Home Swap and Knock GO™ to Baltimore.
“We are pleased to expand our relationship with Knock into the Northeast,” said Carol Perry, Chief Business Development Officer, HomeSmart. “The Knock Home Swap and Knock GO™ give our agents and their clients the competitive edge when it comes to buying and selling homes. The ability for homeowners to purchase and move into a new place to call home, before preparing and listing their existing house for sale, has been a game changer for all parties involved, especially in these current times. We continue to grow our footprint across the country and our friends at Knock are doing the same.”
Nationwide, the Knock Home Swap and Knock GO™ are available through 285 real estate brokerage firms with over 111,000 agents in approximately 5,500 ZIP codes nationwide. Homebuyers also can learn more and see if they qualify for the Knock Home Swap or Knock GO™ at knock.com.
1Mortgage loans offered by Knock Lending LLC. NMLS 1958445. Equal Housing Lender
.. For licensing information go to: www.nmlsconsumeraccess.org.
2Terms and conditions apply. See https://knock.com/closing-guarantee for more information regarding the Knock Closing Guarantee.
3Terms and conditions apply. See knock.com/guaranteed-offer/terms for more information regarding the Knock GO™ (Guaranteed Offer).
Knock makes home buying simple and certain by transforming all buyers into cash buyers and giving them complete control of the process from their phone. Knock’s flagship Home Swap™ product empowers consumers with a cash-like offer to buy the home they want before selling the home they have, providing the convenience of not having to live through repairs or showings in the process. Knock GO™ (Guaranteed Offer) is a cash-backed home loan solution for first-time homebuyers looking to compete in today’s hot housing market.
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 National Association of Realtors®, through its investment arm Second Century Ventures, is a strategic investor in Knock, giving its 1.5 million members the ability to market Knock's homeownership solutions to their clients. Knock currently operates in 70 markets nationwide and plans to be in over 100 markets by 2023.