The COVID-19 crisis has prompted the need for 9% of consumers to unexpectedly move to a new home within the next six months, according to a recent consumer survey from realtor.com. In an effort to provide more flexibility to consumers affected by the crisis, realtor.com is working with EasyKnock, a provider of “sell now, move later” options which enable consumers to access the value of their home without having to move right away.
Realtor.com users can determine their eligibility for, and likely proceeds from, two EasyKnock programs — Sell and Stay and MoveAbility. Sell and Stay offers longer-term lease options and the opportunity to buy back the home, while MoveAbility is aimed at homeowners who would like to move but haven’t yet found a new home.
Through the programs, EasyKnock purchases the home for the full appraised value with a combination of cash and an option, and closes on average within 21 days. Homeowners can choose to rent the home back for as long as they’d like. When the time comes, the consumer gives EasyKnock the go-ahead to sell the home on the open market and can receive any additional proceeds when the sale closes.
“The COVID-19 crisis has had a profound impact on the job market which may lead some families to make extremely difficult decisions,” said Todd Callow, vice president of product management, realtor.com, Santa Clara, California.
Realtor.com has launched a dedicated site with information, resources and tools, including includes more 3D tours, video chats and access to livestreamed open houses.
