When you read a headline about a modern way to trade in your home vs the traditional model of listing, selling, and buying – your first thought is likely, what is this going to cost me? The answer is there is a new approach that likely won’t cost you more than the traditional model. At Brock Built, we’re here to help you learn a better way to trade your home and protect your equity. Plus, when market conditions swing in your favor, it can even save you from the traditional expenses of buying and selling a home.
New Approach, Better Opportunity
Knock, an Atlanta start up, is different from all the local commercials and plugs from other national trade-in programs you may have heard about. The Knock plan gives you an easier transaction without treating your existing home like a discounted fixer-upper. Allow us to explain more about this newer approach to trading in your home.
We’ve listened and learned things from our Atlanta homebuyers. For example, we know you don’t want a reseller to make more money off your home sale than you do. Also, we know you’re not looking for a home-flipper to come in and bail you out. Whether it’s from a leaky roof or a 30-year old HVAC system last serviced when spacejam.com was cutting edge, Knock is here to help not hurt. Knock’s repair assistance will net you more gain than a firesale since you’ll, in essence, be flipping your own home for profit.
Old Way, Known Issues
To be fair, let’s cover what happens when you use the old method where a service that comes in and makes the typical low-ball offer on your home. You’ve probably heard of a large national broker that has started marketing a program where you can receive a guaranteed offer on your home and close in just a few days. The basic parameters of this style program are that your home was built after 1960, needs no structural repairs, and has nothing holding it back from a sale except time to show it. Also known as a “slam dunk”, easy sale in a buyer’s market.
Now if all of that is true, the biggest challenge with this style of service is they will give you an offer at a starting point that takes a huge chunk of your equity. This is how they tend to appease these “quick sell” programs. The full disclosure is that additional repair items (not already discounted), and fees for service (again, thought this was already discounted) will come along after the paperwork flow begins. Your equity continues to erode into 3rd party profit, and you’re not the 3rd party. While other companies are stuck to this model, Knock stands out by helping you trade up to your new home without asking you to take big losses on your old home. It’s your equity, you keep it.
The Knock Difference
With Knock, there is an option for the method of quick sale described above but even better than that is their program to secure your new home for you. By taking advantage of this program, you’ll get Knock to make a cash offer on the Brock Built Home of your choice and let you move in right now. You maintain ownership of your current home and list it for sale with Knock for a normal commission and a maximum price (to you) vs a low-ball offer. You continue to pay your old mortgage, but you do not make monthly payments on your new home. Those begin after your old home has sold and you close on your new home. Knock will even help you sell your old home by providing up to $10,0000 in repairs to get it ready for the market, ensuring maximum value at the time of sale. You’re not in the old home for showings or to be in the way of repairs (if needed), and you have the peace of mind that the offers you receive will be fair market value offers!
Best of Both Plans
When you need to sell your home quickly, especially in an attempt to avoid financial trouble, there are programs out there that will help you if you can stand the fees. But when you find your new dream home and want to act quickly before someone else scoops it off the market, you can now safely secure your new home without risking the equity you’ve built up in your existing home through Brock Built’s relationship with Knock. The risk of losing out while waiting for a conditional sale is removed along with the low-ball pricing. Now, all that’s left is the opportunity to cash out, move up, and win big through a new home trade-in at Brock Built!