NEW YORK, Aug. 5, 2020 /PRNewswire/ -- Homeowners in Denver are now able to use the Knock Home Swap to buy and move into their new home before selling their old one, making Denver the fourth market in less than a month where Knock is partnering directly with agents to bring convenience, certainty and cost savings to the homebuying process. This also marks Knock's expansion into Colorado as part of the company's plan to offer the Home Swap in at least 11 markets by year-end.
"Buying a home when you have to sell your old house is a stressful, time-consuming process, which has only become more complex in today's competitive housing market and era of social distancing," said Knock Co-Founder & CEO Sean Black. "The Knock Home Swap gives homeowners the ability to purchase and move into their dream home before prepping and selling their old house on the open market for maximum value. It's a convenient and cost-effective alternative to a traditional home sale or quick, expensive sale to an iBuyer, and we're thrilled to make it available to Denver homeowners."
Homeowners work with their local real estate agent, who has been trained as a Knock Certified Agent, to receive home financing directly through Knock. This allows them to make a strong, non-contingent offer on their new dream home, immediately take ownership and begin earning equity in their new home while avoiding the hassles of living through repairs and showings.
In addition to a fully integrated and competitive mortgage, the Knock Home Swap includes 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 so it can sell for the highest price possible on the market. 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 program gives real estate agents the opportunity to offer a unique solution to their clients that allows them to represent their client in both the purchase of their new home and the sale of the old house.
Effective immediately, Denver homeowners can work with a Knock Certified Agent at RE/MAX Professionals, Berkshire Hathaway HomeServices Innovative Real Estate and West + Main Homes to leverage the Knock Home Swap to purchase their new home before selling their old one.
"We are excited to partner with Knock to help our clients purchase their next home in a less stressful way. Providing the opportunity to our clients of selling their current home after they move into their new home, and helping them present an updated home to the market in order to realize top dollar, is an extraordinary privilege. It's very refreshing to work with a Realtor-friendly company that allows our clients to work with the Realtor they trust," said Alan Smith, Broker/Owner, RE/MAX Professionals.
"We are excited and grateful for the opportunity to be partnered with Knock in the Denver Metro region. The ability to offer this program to our brokers and their clients is an absolute advantage in this market that will provide so many more options for our home buyers and sellers," said Scott Nordby, CEO/Founder of Berkshire Hathaway HomeServices Innovative Real Estate.
"This removes the friction of buying your next house while you still own the home you're currently living in," said Stacie Staub, Co-founder and CEO of West + Main Homes. "It's now possible to move into your new home and then sell your existing home after making repairs that are most likely to help command the highest and best terms, but without disturbing your lifestyle."
In addition to Denver, consumers have access to the Knock Home Swap through more than 5,000 agents in Atlanta, Dallas/Fort Worth and Phoenix. 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.
Knock makes it easy for consumers to swap their current house for their dream home. With the Knock Home Swap™, homeowners get the certainty of buying the new home they want first and the convenience of selling the old one after, while saving money in the process. Knock pioneered the home Trade In 2017, and perfected it in 2020 with the launch of the Home Swap. Today, homeowners work with the local Knock Certified Agent of their choice to buy and move into their new home before selling their old one. They skip the hassles of living through repairs and showings, pay only one mortgage at a time and have home prep covered upfront so their old house sells on the market for the highest possible price.
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 RRE Ventures, Foundry Group, Redpoint, Greycroft, Corazon Capital, Correlation Ventures, Great Oaks Venture Capital and FJ Labs. The company is headquartered in New York and San Francisco and operates in Atlanta, Charlotte, Dallas/Fort Worth, Denver, Phoenix and Raleigh-Durham with more cities on the way. Learn more at www.knock.com.
About RE/MAX Professionals
When it comes to real estate, RE/MAX Professionals simply sets the standard. Since 1983, RE/MAX Professionals has been successfully serving both our clients as well as our outstanding agents. With 8 locations serving the entire Denver Metro market, you are never far away from all the amenities of a RE/MAX Professionals office. Our owners, Mike Burns, Alan Smith and Brad Whitehouse, along with the entire leadership team, continually strive to improve systems and tools simply because we are committed to helping you achieve success.
From our cutting-edge technology to exceptional training and exchange of strategic marketing ideas, our environment promotes the positive individual growth that makes RE/MAX Professionals a very unique real estate agency. The personal performance and growth of each individual is our priority and it is our goal to create a place for all RE/MAX Professionals agents to excel in their pursuit of success.
About Berkshire Hathaway HomeServices Innovative Real Estate
Berkshire Hathaway HomeServices Innovative Real Estate is a premier real estate brokerage specializing in residential and commercial real estate in Colorado. Founded in January of 2003, Innovative Real Estate has deep roots in the Denver, Colorado area and became a member of the Berkshire Hathaway HomeServices network in 2017. Since joining, they have been recognized as one of the Top 50 companies in the Berkshire Hathaway HomeServices global network for the last three years. They have operating offices in Denver, Northglenn, Brighton, and Englewood, as well as brokers that serve areas throughout Colorado. Innovative Real Estate is dedicated to building relationships through its commitment to family, integrity, and service. Their brokers specialize in representation for buyers and sellers, utilizing the latest technology, creativity, market expertise, and hard work to achieve results and build long term relationships. Contact a Berkshire Hathaway HomeServices Innovative Real Estate Broker for trusted advice for any of your real estate needs. Visit www.innovativeRE.com.
About West + Main Homes
West + Main is an independently owned and operated boutique real estate concept specializing in residential properties in the greater Denver and Oklahoma City areas, established in February 2017. A long-overdue update on the traditional Real Estate brokerage, the team at West + Main Homes has created a culture that celebrates collaboration, thoughtful + intentional design, and excellent service.
Contact: [email protected]