Gay Family: Finding Relief From Paying Two Mortgages at Once
March 12, 2018

Last year, Kathleen Gay found herself in a situation no homeowner wants to endure: She was carrying two mortgages at the same time.

Kathleen purchased her family’s forever home and had already been living in it for months, but still hadn’t sold her old house. She was stuck paying two mortgages and for the upkeep of two separate properties.

Meanwhile, this working mom was getting ready to send her oldest child off to college—another major expense. She realized that she had to put the gears in the motion to sell the old house in order to afford her son's tuition. “I was going to use the sale of the house to pay for his years at college,” she explained.

That’s when another startling realization came to the Kathleen: “It hit me. In order to sell that house for top dollar, I had to go in and do some work, but I knew that I did not have the money to put into that house.”

By chance, Kathleen stumbled across Knock on Facebook and decided to give the team a ring. She matched with Eric Baham, Licensed Local Expert at Knock, who walked her through the home repairs promise. Knock would manage and pay upfront for all of the repairs and then settle with Kathleen at closing.

“She didn’t have the time, money or bandwidth to manage repairs and to get that house ready to sell,” Eric said. “The ability to focus on the things that actually mattered, instead of the repairs, was important to her.”

A sweet ending to a stressful journey

Once the repairs were done on the old house, the Knock team got to work listing the property.

It wasn’t available for long. Within four days, Kathleen’s old house was under contract. She was ecstatic – especially as the house sold for $3,000 more than the asking price.

Things got even better at the closing when Kathleen met the family who bought the old house. Eric recalls how special the event was for everyone involved. “It was like a Hallmark movie. Everyone was hugging each other. Kathleen was so happy that the house was purchased by someone who loved it as much as she did.”

It’s rare to see that kind of connection between the buyer and seller at a closing, Eric noted. “But those are the kinds of closings that remind me why I do this. These kinds of transactions re-energize me when I’m working long days.”

As for Kathleen, she’s found a new sense of calm these days. “Had I not seen that advertisement [for Knock] on Facebook or picked them, I would still be on the market today with two mortgages and that would have killed me. I could not have asked for a better team or a better company to help me sell my home than Knock.”

Inspired by Kathleen's story? Find peace of mind by submitting your current home for a free market price estimate today.


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