Digital homeownership platform Knock has launched Knock GO (Guaranteed Offer), a 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 make a non-contingent, cash-backed offer to win their dream home with the added assurance Knock will 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 others. 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 value 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 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.
