Knock, the real estate technology company, said today it is expanding its Knock Home Swap app into nine additional markets in Arizona, Florida, Minnesota, Tennessee, and Texas.
With Home Swap, a consumer can make a strong, non-contingent offer that empowers them to buy and move into a new home before they list, alleviating the need to time a sale with a purchase, moving twice, and living through repairs and open houses.
With today's announcement, Knock Home Swap is available in 59 markets coast-to-coast. The expansion adds Prescott & Yuma, Ariz.; The Villages in Florida; Duluth, Rochester & St. Cloud, Minn.: Knoxville & Memphis, Tenn., and Sherman-Denison, Texas, building on the company's established presence in those five states.
The Knock Home Swap is being offered by 55 local brokerage firms in the nine expansion markets.
"With the Knock Home Swap, homeowners can unlock the equity in their old house so they can buy their dream home and then repair and list their old house on their timeline for the maximum sale price," said Knock Co-Founder & CEO Sean Black. "Based on our rapid growth, it's clear that homeowners across the country are looking for a more digital, streamlined real estate experience that includes the expertise of a real estate professional. We are excited to bring the Home Swap and the certainty, convenience, and cost-savings it provides to more homeowners."
The Knock Home Swap offers homeowners an end-to-end digital solution that includes a competitively priced mortgage and an interest-free bridge loan, which covers the down payment on the new home, home prep, and up to six months of mortgage payments on the old house. A homeowner can qualify for the Knock Home Swap from their mobile device and then confidently shop for a home they want with their own agent by their side and in the app.
In addition, they have the advantage of waiting until they have moved into their new home to prep and list their old house on the open market, so there's no living through repairs and showings or selling for less than full value.
As part of its Home Prep Concierge, Knock provides access to its contractor network and manages the payment of client-approved work until closing. Additionally, Knock provides a backup offer on the old house in the unlikely event that it doesn't sell within six months; 99% percent of Knock homes sell in 90 days or less, with 83 percent selling in 30 days or less.
For more, visit www.knock.com.
