EasyKnock | Equity Release Solutions for Homeowners
EasyKnock

EasyKnock

Sale Leaseback Solutions for Residential Real Estate


Cash Out Your Equity Without Moving

Get the time, money, and peace of mind you need.



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What is Sell and Stay?

Sell and Stay is a sale leaseback program.
We buy your home, pay off your mortgage and release your home equity back to you!
You continue to live in your home as a renter, with the flexibility to buy back your home, or move at any time.

 

We discuss your situation, and create an agreement that meets your financial needs. The agreement includes EasyKnock’s funding amount, rent price, and the buyback price for that lease term. If, you decide to renew your lease, we would provide an updated lease with the monthly rent and buyback price for the new lease term.

Example

Scenario: The Smiths own a house worth $240,000 with a mortgage balance of $80,000. They want to pay off debts, but they’re behind on their mortgage and have a below average credit score.

Solution: EasyKnock will buy the Smith’s home for $150,000, paying off the mortgage, giving the Smiths $70,000 in cash at the closing. The Smiths become tenants, with the option to buy the house back at any time. OR they can request the house be put on the market. Once sold, the Smiths would receive the sellout value, essentially the remainder of their equity, for example $87,550.

Why Sell and Stay?

Home refinancing criteria are pretty rigid, so many people end up getting turned down for loans and refinancing. What then? There’s not a lot of great alternate solutions out there right now.  Everyone’s situation is different, we get that. So, we’ve created a unique option that’s transparent, flexible, and helps people achieve financial freedom.
Sell and Stay could be a great option if you…


money

Don't have great credit or make a ton of money

heloc

Don't qualify for a HELOC or other loans

equity

Want to tap into your equity now, but don’t want to move

need cash

Need cash and time to find a new home

financial

New opportunities - start a new business or investment

expense

Have time sensitive expenses




No moving, no downsizing, no loans, just equity.



How Sell and Stay Works




1

You need some of your home equity now, but might want to buy back your home at some point.

2

We agree on a funding amount, rental price, buyback price, and initial lease term.

3

We execute the contract to buy your home. Closing takes 30 days, we can expedite if necessary.

4

We close, pay-off any indebtedness on the property and  you receive your money!

5

You continue to live in your home, paying monthly rent. To renew, just provide three months notice!

6

At any point you can buy back your home or have it put on the market. If sold, you get the remainder of your equity.



A more flexible path to sell your home.


Testimonials


Through Sell and Stay, EasyKnock purchased our house, and we now have the money to build our new home. We can stay in our current house until our new home is ready. The people at EasyKnock are honest and easy to work with." If you need the equity out of your home but aren't ready to move, EasyKnock's your answer.

- Ty and Tammy

2018-04-03T09:38:40+00:00

- Ty and Tammy

Through Sell and Stay, EasyKnock purchased our house, and we now have the money to build our new home. We can stay in our current house until our new home is ready. The people at EasyKnock are honest and easy to work with." If you need the equity out of your home but aren't ready to move, EasyKnock's your answer.
EasyKnock solved my client's problem. Instead of sell-move-rent-move again, Sell and Stay was a perfect fit for my client!

- Victoria

2018-04-03T09:39:27+00:00

- Victoria

EasyKnock solved my client's problem. Instead of sell-move-rent-move again, Sell and Stay was a perfect fit for my client!
I had an excellent experience with EasyKnock. They have a great team that is more forward thinking than many others in the industry.

- Nick

2018-04-03T09:40:22+00:00

- Nick

I had an excellent experience with EasyKnock. They have a great team that is more forward thinking than many others in the industry.
The process was great, fast and easy. Tried my hardest to find something wrong with EasyKnock but I couldn't. I appreciated being accommodated to make the deal that I wanted.

-Mike

2018-04-03T09:42:38+00:00

-Mike

The process was great, fast and easy. Tried my hardest to find something wrong with EasyKnock but I couldn't. I appreciated being accommodated to make the deal that I wanted.
Through Sell and Stay, EasyKnock purchased our house, and we now have the money to build our new home. We can stay in our current house until our new home is ready. The people at EasyKnock are honest and easy to work with." If you need the equity out of your home but aren't ready to move, EasyKnock's your answer.

- Ty and Tammy

2018-04-03T09:38:40+00:00

- Ty and Tammy

Through Sell and Stay, EasyKnock purchased our house, and we now have the money to build our new home. We can stay in our current house until our new home is ready. The people at EasyKnock are honest and easy to work with." If you need the equity out of your home but aren't ready to move, EasyKnock's your answer.
EasyKnock solved my client's problem. Instead of sell-move-rent-move again, Sell and Stay was a perfect fit for my client!

- Victoria

2018-04-03T09:39:27+00:00

- Victoria

EasyKnock solved my client's problem. Instead of sell-move-rent-move again, Sell and Stay was a perfect fit for my client!
I had an excellent experience with EasyKnock. They have a great team that is more forward thinking than many others in the industry.

- Nick

2018-04-03T09:40:22+00:00

- Nick

I had an excellent experience with EasyKnock. They have a great team that is more forward thinking than many others in the industry.
The process was great, fast and easy. Tried my hardest to find something wrong with EasyKnock but I couldn't. I appreciated being accommodated to make the deal that I wanted.

-Mike

2018-04-03T09:42:38+00:00

-Mike

The process was great, fast and easy. Tried my hardest to find something wrong with EasyKnock but I couldn't. I appreciated being accommodated to make the deal that I wanted.



Your Sell and Stay Questions Answered

FAQs



Who is Sell and Stay for?

Sell and Stay is for single family homeowners who need to access their home equity, but do not want to, or are not ready to move.

Why wouldn't i just use traditional refinancing methods or loans, such as a home equity line of credit?

If you don't qualify, or fees are too expensive, Sell and Stay may be a great solution.

How much rent will I pay?

We aim to have you pay “market rent.” Market rent is based on the rent being paid for similar homes in your area.

What is the lease term length?

A year is the standard minimum lease length. Longer terms are available, or, you can renew your year lease with 3 months notice.

How long does it take to close?

Typically, it will take 30 days to close. However, we can expedite if necessary.

What documents are used in a Sell and Stay transaction?

The “Sell” is governed by a purchase and sale agreement, and the “Stay” is governed by a residential lease.

During the Sell and Stay process, who handles the paperwork?

We use lawyers to draft our agreements, which are then sent to you. You or your lawyer will be responsible for reviewing the documents. We highly recommend you use a lawyer too!

How do I buy back my home?

Our lease includes an “Option Agreement” with specific language that allows you to buy back your home at any point (for the buyback price), as long as you have the funds.

What if I decide I want Easyknock to sell my home?

The Lease with an Option Agreement also has language allowing you to authorize the sale of your house at any time. You will have the ability to control the timing, asking price, and real estate agent, if you’d like. If a sale is finalized prior to your lease end date, you are able to terminate the lease early.

If I decide to buy back the property, who handles inspections, appraisals and financing options?

We are happy to refer you to our partners. Your lawyer is also able to assist with this.

What if I default on my Lease agreement?

You will be given written notice of the default and the opportunity to fix the problem (aka cure the default). If you do not cooperate and cure the default (fix the problem), we may be forced to evict. Even if your lease ends with an eviction, we will still give you the net sale proceeds after deducting the back rent, legal expenses and selling costs. Please note, we will sell the property using an auction-sale process, to prevent conflicts of interest and ensure transparency around this sale.

Who gets the value if my home appreciates during the lease term?

You do.

Who handles the home maintenance?

The tenant is responsible for maintenance including cutting the grass, snow removal and appliance repairs.

Who pays the property taxes?

Easyknock will pay the property taxes.

Is there a property manager?

You will not have a local property manager.

Do I need to hire an attorney?

A lawyer is not needed, but recommended.

Do I need insurance?

We recommend all tenants consider renters insurance.






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