Homebuyers in 65 markets can now turn to Knock to get a competitive home loan to make a non-contingent, cash-backed offer to win the home of their dreams
- Knock GO™ turbocharges a conventional home loan with a cash-backed closing guarantee and appraisal protection to win bidding wars in today’s hot housing market
- Knock GO™ provides a credit for up to 100% of closing costs to help bridge the gap for the 15-20% of homebuyers whose appraisal currently comes in lower than the contract price so they don’t lose their dream home
- Buyers and sellers have the certainty their transaction will close on time at no additional cost
NEW YORK (Oct. 4, 2021) — Knock, the fast-growing digital homeownership platform that brings certainty and convenience to buying and selling homes, announced today the launch of Knock GO™ (Guaranteed Offer), its innovative cash-backed home loan solution for first-time homebuyers looking to compete in today’s hot housing market. With Knock GO™ homebuyers in 65 markets nationwide can now make a non-contingent, cash-backed offer to win their dream home with the added assurance Knock is there to bridge the gap should the appraisal come in below the sale price.
Designed specifically for first-time buyers and others who don’t have a home to sell, Knock GO™ 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 value1,2 at no additional cost.
“In today’s housing market many buyers are losing their dream home to offers that waive financing, appraisal and other contingencies. Both buyers and sellers need to be guaranteed that their transaction is going to close, and Knock GO™ provides the certainty it will,” said Knock Co-Founder and CEO Sean Black.
Founded in 2015, Knock’s flagship Home Swap™ empowers homeowners with the certainty of a non-contingent offer to buy the home they want before selling the house they have for top dollar, giving them the convenience of not having to live through repairs or showings or sell to investors at a discount. With the introduction of Knock GO™, Knock is expanding its reach to all homebuyers whether they are looking to both buy and sell or just buy a home.
Similar to Knock Home Swap™, Knock GO™ is a fully digital experience available through more than 250 leading brokerage firms with over 100,000 agents in 65 markets nationwide. Homebuyers also can learn more and see if they qualify for a Knock GO™home loan at knock.com/go.
Knock is on a mission to make homeownership simple and certain. Whether you are a homeowner looking to buy a new home before selling your current home or a first-time buyer, Knock offers a fully digital end-to-end solution that brings certainty, convenience and cost-savings to the often stressful and complicated process of homeownership. The Knock Home Swap™ empowers a customer to buy their new dream home before selling their old one. Knock GO™ (Guaranteed Offer) provides homebuyers with the best features of a cash offer in a competitive home loan to win the home they want without paying more.
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 65 markets nationwide and plans to be in over 100 markets by 2023.
1Terms and conditions apply. See knock.com/guaranteed-offer/terms for more information regarding the Knock GO™ (Guaranteed Offer).