NEW YORK, Jan. 7, 2021 /PRNewswire/ -- Homeowners in Jacksonville can now skip the hassles of living through repairs and showings by buying the home they want before selling their old one. Starting today, homeowners can take advantage of the Knock Home Swap to get pre-funded for a competitively priced mortgage from Knock to buy their new home and move before listing and selling their house on the open market for the maximum price.I see Knock as the future of home buying," said Kristy Burchell.
With today's launch, the Home Swap is now available across a large portion of the state of Florida, including Miami/Fort Lauderdale, Orlando, Tampa and West Palm Beach. Since the Knock Home Swap first launched in July 2020, it has grown to a total of 15 markets nationwide.
"Buying a new home when you have one to sell is fraught with stress and uncertainty," said Knock Co-Founder & CEO Sean Black. "At Knock, we take the friction out of the process. With the Home Swap, homeowners get the financing to make a strong non-contingent offer on their dream home and repair their old house. By buying before selling, consumers have the convenience of being able to move on their timeline and then list a fully prepped home on the open market for the maximum price."
Kristy Burchell and her husband, Stan, recently used the Knock Home Swap to purchase their new home in Arlington, Texas. The Burchell's were looking to move closer to Dallas, but knew that they could not live through repairs and showings with working and schooling their children from home. Kristy investigated several alternative home sale solutions, including iBuyers, but found them to be expensive.
"The Home Swap provided the most economical choice. We got the convenience of being able to move without having to live through a traditional home sale and still sell our house on the open market. We were also able to make a non-contingent offer on our new home, which was a huge advantage with the market being so competitive," she said. "I see Knock as the future of home buying."
In Jacksonville, Knock is partnering with Keller Williams Atlantic Partners to enable homeowners to "swap" their current house for their dream home.
"Given the high amount of multiple offer situations we are currently seeing, it is hard for many buyers to be competitive while also trying to sell their home at the same time," said Margaret Sherrill, Owner/Operating Partner of Keller Williams Atlantic Partners. "The Home Swap program is a huge advantage for customers in these situations. We are excited to partner with Knock and look forward to offering this program in Jacksonville."
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, consumers immediately take ownership and begin earning equity in their new home. 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.
The Knock Home Swap is available in Atlanta; Austin, Texas; Charlotte, N.C.; Dallas-Fort Worth; Denver; Fort Lauderdale, Fla.; Houston; Jacksonville, Fla.; Miami; Orlando, Fla.; Phoenix; Raleigh, N.C.; San Antonio; Tampa and West Palm Beach, Fla., through 70 brokerage firms with more than 43,000 agents. Knock plans to expand to at least 21 markets by mid-2021.
Knock is on a mission to empower people to move freely. The Knock Home Swap™ makes it easy for consumers to buy their new home before selling their old one, skipping the hassles of living through repairs and showings, paying only one mortgage at a time, and having home prep covered upfront so their old house sells for the highest possible price. Knock currently offers the Home Swap in 15 markets in six states and plans to expand to at least 21 markets by mid-2021.
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 First American Financial (NYSE: FAF), RRE Ventures, Foundry Group, Redpoint, Greycroft, Corazon Capital, Correlation Ventures, Great Oaks Venture Capital and FJ Labs.
About Keller Williams Atlantic Partners
Founded in 2006, Keller Williams Realty Atlantic Partners is among the top real estate groups in Northeast Florida. With over 650 agents and 9 office locations, KWAP will close over $2 billion in sales volume in 2020. KWAP covers the east coast of Florida from Amelia Island to New Smyrna Beach and has rapidly grown over the years to be one of the largest and most respected real estate operations in Northeast Florida.
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