North carolina can now use knock home swap

North carolina can now use knock home swap
Published on November 19, 2020, 6:00 am by Julia Falcon for HousingWire.com

This is the 11th market the solution is offered in

Homeowners in Charlotte, North Carolina and Raleigh, North Carolina can now use Knock Home Swap to purchase their new home before selling their old one. The solution is now available in 11 markets in six states.

Home Swap is offered exclusively through local real estate professionals who have been trained as Knock Certified Agents. In North Carolina, Home Swap will be offered through Better Homes & Gardens Real Estate ParacleWilkinson ERA Real Estate and ERA Live Moore.

“Inventory across the Carolinas remains tight, making the markets we serve extremely competitive and creating multiple offer situations,” said Eb Moore, CEO of Wilkinson ERA Real Estate and ERA Live Moore.

“The Knock Home Swap program in our Charlotte and Raleigh markets will give our agents a compelling tool that will allow them to help their clients win in multiple offer situations,” Moore said. “In addition, it will help to ease some of the stress of buying when you have a home to sell, leading to a better consumer experience overall.”

Via Home Swap, customers can take ownership of their new home while prepping and repairing their old house to sell. Knock provides consumers with a mortgage on the new home, an interest-free bridge loan to cover the down payment, coverage of mortgage payments on the old house, and up to $25,000 for home prep and repairs for the old house.

The company said it has plans to operate in 21 markets by mid-2021.

“The Home Swap is specifically designed to help those people who need to use the equity in their house to buy a new home,” said Tony Hanson, partner, Better Homes & Gardens Real Estate Paracle. “The word paracle means to come alongside, advise and counsel, and it’s more than just our name – it’s how we operate our business. By teaming with Knock, we are able to offer our customers a solution that will give them the comfort of knowing they can buy their new home before selling their old one for the highest possible price. It’s an incredible tool, especially in today’s low inventory environment.”