Home Swap – Knock Certified Agent

Knock Knock! Who’s there?

It’s Tricia jo on the go, want to swap houses to get your dream home?

This isn’t an April Fools joke. I truly didn’t believe it either right away, how can you buy a house while still owning your current one?

I recently received my KNOCK certification to better serve my clients and friends. Let’s look closer together.

I have exclusive access to a program that empowers you to buy a new home before you even list this house for sale. This program provides funds for up to a 20% downpayment on your new home, up to 6 months worth of mortgage payments on your old home so you’re only paying your new mortgage! Also up to $25,000 to get your old home market ready if needed, so you get top dollar when you sell.
If you’re interested in the convenience of being able to present a non-contingent offer before selling your old home, certainty that you won’t be paying 2 mortgages, and cost savings by not having to move twice – let’s explore this option for your move…

Now let’s break it down more too.

The Ideal Home Swap Customer (lots of text, but it’s easy to read trust me)

  • Situation:  
    • Wants to buy, but needs to sell to qualify (needs a sales contingency, traditionally)
    • Buying in one of Knock Lending’s open markets
  • Equity/credit:
    • Has at least 30% equity (or more) in their home
    • Factor all liens (primary mortgage, any second mortgages, leased solar, HELOC, etc into calculations). If you don’t want to do this, that is fine – Knock Lending will double check for you. 
    • Credit score is 620 FICO
  • Loan Type: 
    • Can qualify for a conventional loan (FHA/VA won’t work right now)
    • Conforming loans only (no jumbo details below on that price range basically) 
  • Property Condition: 
    • Their house is well maintained – no major structure work needed
    • May need up to $25k in cosmetic work (i.e. paint, carpet) for listing
      • If over $25k, overage paid directly by customer
    • Home doesn’t have any major visual detractors nearby (i.e. busy roads/highways, large power lines, cemeteries, commercial properties, unusable yard, etc)
  • Listing Value:
    • Value is at or below Knock’s maximum list price of $850,000
    • There are similar comps (at least 2-3) that clearly prove this value in MLS
    • Your agent is confident it will sell well – market data proves this (days on market)
  • New Home Criteria:
    • Buying a residential property for use by a single family (houses, townhouses, condos – but no vacant land, mobile homes, modular homes, etc) Duplexs/Triplexes accepted if one unit will be primary residence.
    • Conforming loan (no jumbo) 

OK, don’t worry I got your back.

Let’s talk if something inspires you in this KNOCK throw-down.

Your REALTOR, your friend and real estate expert,

Tricia Jo