Homeowners throughout Houston can now buy the home they want before selling their old one. The Knock Home Swap has launched, 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 and 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.