FAQ
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About EasyKnock
Expand AllWho is EasyKnock?
EasyKnock provides homeowners with innovative and accessible residential sale-leaseback solutions. Through our programs, customers convert home equity into cash while remaining in the home as a renter.
What’s EasyKnock’s mission?
At EasyKnock, we’re on a mission to help homeowners achieve financial freedom and stability by giving them liquidity, flexibility, and control over the equity they’ve built up in their homes. Through our sale-leaseback programs, customers get the cash they need and remain in the communities they love while they decide on their next steps.
Where are EasyKnock’s programs offered?
EasyKnock’s programs are offered across most U.S. states but are not available in CA, DE, MA, MD, ND, NY, SD, VT, WA, and select markets. You can click the “Get Qualified” button above to find out if you’re eligible for our solutions.
When was EasyKnock founded?
EasyKnock was founded in 2016.
Who is EasyKnock’s CEO and Founder?
As CEO and Founder of EasyKnock, Jarred Kessler is a mission-driven entrepreneur with over fifteen years of experience in the financial services industry. Throughout his career, Kessler witnessed the effects of technological change on the industry and evolved his own business models to align effectively with emerging trends. Kessler is redefining the real estate and financial space for American homeowners, delivering new and necessary opportunities with EasyKnock’s residential sale-leaseback programs.
Where are EasyKnock’s offices?
EasyKnock’s headquarters are located in New York City. However, we have a large remote workforce across 27 states.
How does EasyKnock make money?
EasyKnock makes money from fees and rent. We do not make money from the appreciation of home values. In a typical sale-leaseback transaction, EasyKnock receives a processing fee from the initial home sale to EasyKnock and then monthly rent after the customer becomes a tenant. For our Sell & Stay program, EasyKnock also charges an annual Option Fee, which gives the customer the right to repurchase the home or to direct a third party sale at any time.
What do customers say about EasyKnock?
At EasyKnock, we’ve helped thousands of homeowners across the country unlock their financial freedom. We’re proud to have earned the “Best in Finance” award from Inman in 2023 as well as “Great Customer Service Award” from Best Company in 2022, and to maintain a 4.5 average rating on customer review platforms like Google and Trustpilot.
How can I contact EasyKnock?
To speak with an EasyKnock team member, click the “Get Qualified” button below, or for general inquiries, email us at hello@easyknock.com, for media inquiries email us at press@easyknock.com, or simply give us a call at (844)-888-9213.
How It Works
Expand AllHow does the EasyKnock solution work?
EasyKnock's process has three steps:
1. Get Qualified
Tell us about yourself and we’ll match you with a program, and provide you with an estimate of your home’s value and potential cash funding. When you’re ready to proceed, you’ll sign a non-binding Letter of Intent (LOI).
2. Sign, Close, and Get Your Cash
There’s a traditional 4-6 week real estate home closing process. Once your home is sold to EasyKnock, you get the agreed-upon cash and your lease begins.
3. Stay in Your Home
You stay in the home as a renter while deciding on your next steps. Depending on your solution, you can choose to repurchase the home or direct EasyKnock to sell it on the open market.
What is a residential sale-leaseback?
A residential sale-leaseback is exactly what it sounds like; sell your property. Instead of having to move out, you stay as a renter.
How are EasyKnock’s sale-leasebacks different from others?
EasyKnock solutions give you the right to direct us to sell the home on the open market after which you may receive any applicable future home appreciation minus our Buyout Cost and your real estate agent commission. Depending on the product you choose, you may also have the right to repurchase your home at any time for the Buyout Cost and buyer’s closing costs.*
Visit our Programs page for more information.
*Closing costs and fees are subject to change and are based in part on information provided in your application.
How quickly can I get my cash?
An EasyKnock transaction can typically close in 4-6 weeks. However, each property is unique, and 3rd party due diligence such as title work and the home’s appraisal can extend this timeline. Title companies typically fund within a few business days of closing.
What types of homes does EasyKnock buy?
We buy single-family homes, townhomes, and certain condos. We are unable to purchase mobile homes, investment properties, multi-family, commercial real estate, or certain parcels classified as rural. Other restrictions may apply. The easiest way to confirm if your home qualifies is to fill out our Qualification Form.
Is EasyKnock a lender?
No, EasyKnock is not a lender and does not offer loans. EasyKnock offers an alternative financial solution, residential sale-leasebacks, which works by EasyKnock purchasing the house, converting the customer’s equity into cash, and allowing the customer to stay as a renter.
EasyKnock is commonly used as an alternative solution for those who cannot qualify for or do not want additional debt, such as:
- Home Equity Lines of Credit (HELOCs)
- Home Equity Loans (HELs)
- Cash-out refinance loans
- Reverse mortgages
Is EasyKnock an iBuyer?
No. While both EasyKnock and an iBuyer will purchase your home, EasyKnock differs in 4 key ways:
- Purchase Price: iBuyers are real estate investors who usually purchase homes at a discount to fair market value, whereas EasyKnock purchases at 100% fair market value (as cash funding plus an Option Agreement).
- Continued Occupancy: iBuyers do not typically allow you to stay in the home after the sale for any length of time, while EasyKnock allows you to stay as a renter.
- Repurchase: For our Sell & Stay product, EasyKnock provides the right to repurchase the home at a pre-determined price that is below market value (Buyout Cost). iBuyers do not normally provide that option so the home might not be available for you to repurchase or be available below market value.
- Home Price Appreciation: iBuyers make money and benefit from home price appreciation when they flip the home and sell it. In contrast, EasyKnock solutions provide an Option Agreement, which allows you to keep any home value appreciation above our Buyout Cost and your agent commission if you direct us to sell the home on the open market at a later date.
Is EasyKnock a debt consolidation company?
No, we are not a debt consolidation company nor are we a financial advisor.
Does EasyKnock share in the home’s appreciation?
We do not profit from the appreciation of home values. Unlike typical tenants who lack control over whether the home they rent is sold by the property owner (or to whom, or for how much), the Option empowers the owner-turned-tenant. EasyKnock assumes the risk of depreciation of the home value below the Buyout Cost if a subsequent sale results in a loss.
Our Programs
Expand AllWhat programs does EasyKnock currently offer?
EasyKnock currently offers two residential sale-leaseback programs (Sell & Stay and MoveAbility) and a powerbuyer (cash offer) program (RibbonCash). Ribbon is now powered by EasyKnock. To learn more about the Ribbon product, please visit ribbonhome.com
What is Sell & Stay?
Sell & Stay by EasyKnock is a residential sale-leaseback solution that allows for the repurchase of the home. Under this program, you sell your home to EasyKnock and therefore convert your home equity into the cash you need. You stay as a renter for up to five years total so you can remain in the community you love. Then, you decide your next step: either repurchase the home or direct us to sell the home on the open market.
Visit our Sell & Stay page for more information.
Who is Sell & Stay for?
Sell & Stay is for homeowners who want to convert their home equity to cash without having to move and want the ability to stay longer than a year or want the option to repurchase the home.* Our customers use Sell & Stay to reach all types of goals including:
- Paying down debt, medical bills, and student loans
- Expanding a business venture
- Bridging a life event like retirement or divorce
Visit our Sell & Stay page for more information.
*Sell & Stay customers can remain as a renter in the house for up to five years total. At any point, you can choose to repurchase your home for the agreed-upon Buyout Cost.
How is Sell & Stay different from other residential sale-leasebacks?
Unlike other sale-leasebacks, Sell & Stay includes an Option that gives you the right to repurchase the home at any time during the lease term for your Buyout Cost (plus certain costs if applicable). You can also direct EasyKnock to sell the house on the open market and receive the full sale price, minus the Buyout Cost and fees and expenses. If the home appreciates, that amount is yours to keep above the Buyout Cost*. If the home depreciates, EasyKnock bears the risk of loss.
*There is no guarantee of an appreciation in value. If you default on your lease, you can lose your right to direct the sale of the property; however, you will still receive the net sales proceeds from a sale.
What is a Sell & Stay Option?
At any time during your lease, the Sell & Stay Option allows you to exercise one of two choices: (1) repurchase the home or (2) direct EasyKnock to sell on the open market.
- You may elect to repurchase the home at any point during your lease term for a fixed Buyout Cost, which will be the Option Exercise Price + the Option Fees you pay based on the years of your lease. You will be responsible for the buyer’s closing costs.
- As the Option Holder, you have control of the sale, including agent/broker selection, listing price, and offer acceptance, if not in default. If in default, EasyKnock can undo prior actions, such as hiring a different agent/broker.
- If you choose to sell the house on the open market, once the house is sold, you will receive the final sale price minus the Buyout Cost and your agent commission.* EasyKnock and the new buyer will cover the closing costs. You will also receive home value appreciation, if applicable.
*If the Option Holder is a real estate agent and wants to list the property, you may do so but will not be eligible for an agent commission.
What is MoveAbility?
MoveAbility by EasyKnock is a residential sale-leaseback solution that simplifies the process of buying a new home in today’s competitive housing market by providing you with cash for your next home, helping you avoid home sale contingencies, and allowing you to make stronger offers.
By staying on as a renter, you avoid the inconvenience and expense of moving into temporary housing while you close on the purchase of your next home.
When you choose MoveAbility, you can stay in the home as a renter for up to 12 months while retaining rights to any appreciation. At any point during the first nine months of your lease, the MoveAbility Option allows you to direct EasyKnock to sell the home on the open market. At the point of sale, you keep any applicable home value appreciation and receive the full sale price of the home minus the Buyout Cost and your agent commission.
As the Option Holder, you have control of the sale, including agent/broker selection, listing price, and offer acceptance, if not in default. If in default, EasyKnock can undo prior actions, such as hiring a different agent/broker.
MoveAbility customers work with an agent in order to initiate and complete a home sale. Customers pay the first quarter of the agent’s commission at acquisition and the remaining commission at disposition.
Visit our MoveAbility page for more information.
Who is MoveAbility for?
MoveAbility is for people who plan to move within the year but want to sell their current home now to use the cash for their next home and/or want to avoid having to move to temporary housing while they close on the purchase of their next home. Our customers use MoveAbility to reach their buying, selling, and moving goals without the hassle and rush of the traditional process.
What is Ribbon?
Ribbon Powered by EasyKnock is now live in select markets. Visit ribbonhome.com for more information.
What is the Buyout Cost?
The Buyout Cost is the total amount that will be paid to EasyKnock upon the repurchase or subsequent sale of the house by EasyKnock after you have instructed EasyKnock to sell it on the market. This includes the Option Exercise Price, Option Fees (if Sell & Stay), and closing costs and accrued expenses.
How do I repurchase my home after I sell it to EasyKnock?
For Sell & Stay customers only. At any point, you can inform us of your intent to repurchase the house. You can purchase the house for the Buyout Cost using cash or mortgage financing.** Once you confirm your ability to repurchase, the transaction is processed and closes as a traditional home purchase. In this transaction, you will be responsible for the buyer’s closing costs as well.
** There is no guarantee that you would qualify for mortgage financing. Lender requirements vary.
What happens when I decide to move?
With the Sell & Stay Option, you can direct EasyKnock to sell the house at any point during your lease term. You will receive the final sale price minus the Buyout Cost and your agent commission.
With the MoveAbility Option, you can direct EasyKnock to sell the house within the first nine months of your lease term. You will receive the final sale price minus the Buyout Cost and your agent commission.
How long does an EasyKnock transaction take from start to finish?
A typical EasyKnock transaction takes about 4-6 weeks from start to closing, though timing varies based on external factors.
How does EasyKnock determine how much my home is worth?
EasyKnock determines the purchase price for the home based on a third-party appraisal and inspection.
Does EasyKnock buy my house at a discount?
No, EasyKnock purchases homes at 100% of their fair market value based on an independent appraisal. The purchase price is comprised of cash funding and an Option.
- In Sell & Stay, up to 75% of the fair market value can be received as cash.
- In MoveAbility, up to 75% of the fair market value can be received as cash.
Do I have to occupy the home to sell it to EasyKnock?
Customers or their immediate family must occupy the home as their primary residence in order to sell to EasyKnock. EasyKnock cannot purchase investment properties or homes that are already being rented to a tenant. The customer and anyone living on the premises will need to be on the lease.
What happens to my current mortgage?
When you sell your home to EasyKnock, the remaining mortgage balance is paid off by EasyKnock out of the cash funding.
Can I use my own real estate agent if I choose to direct EasyKnock to sell my home?
Yes, when you direct EasyKnock to sell the home on the open market, you can choose the real estate agent you wish to work with.
What is BuyBoost?
BuyBoost is a program EasyKnock is offering to their Sell & Stay customers to enroll them in a mortgage readiness program in partnership with FinLocker.
What is FinLocker?
FinLocker is a financial tool that facilitates mortgage readiness through actionable recommendations that help clients achieve their financial goals.
Our Customers
Expand AllWho is EasyKnock for?
EasyKnock is for homeowners looking for alternative financial solutions to convert the equity in their homes.
What has EasyKnock helped people to do?
EasyKnock’s sale-leaseback solutions have helped people to reach many different goals, including:
- Pay Off Debt
- Pay Outstanding Medical Bills
- Pay Off Student Loans
- Purchase a New Home
- Pay for a Planned Life Event
- Pay for an Unplanned Life Event
- Navigate Job or Income Loss
- Fund an Education
- Navigate Divorce Settlement
- Retirement Planning
- Prepare for Assisted Living
- Fund a Business Venture
Can EasyKnock help people get out of debt?
EasyKnock’s sale-leaseback solutions have helped many customers get the cash they need to pay down debts and improve their financial standing. At closing, certain debts are paid off, including outstanding mortgages, liens, and property taxes on the home.*
*EasyKnock is not a financial advisor or credit counselor. Individual circumstances vary and particular outcomes are not guaranteed.
Does EasyKnock work with customers who are in bankruptcy?
No, EasyKnock does not work with customers who are in bankruptcy.
Lease and Rent
Expand AllWhat are EasyKnock’s lease terms?
- Sell & Stay: 12 month lease with annual renewal for up to five years total, as long as you are in good standing or unless you choose to exercise the Sell & Stay Option. Your rent will increase by the greater of 2.5% or CPI-U (Consumer Price Index for all Urban Consumers) annually.
- MoveAbility: 12 month lease with no renewals. You may exercise your MoveAbility Option to direct EasyKnock to sell the house at any time within the first nine months of your lease term and move out with no early termination fee.
How is the rent determined?
We charge fair market rent. We determine your home’s market rent using independent third-party rent data providers and sources. The number will be based on rent for similar homes in your area. As per the terms of your lease agreement, your rent is scheduled to increase each anniversary by the greater of 2.5% or the Consumer Price Index Urban (CPIU). This is an industry-wide standard practice.
Does EasyKnock require liability insurance or renter’s insurance?
EasyKnock requires you to purchase liability insurance in the coverage amount of $100,000 within 14 days of the start of the lease. Additionally, we recommend you obtain personal renter’s insurance so that you can protect yourself from certain losses. For example, renter’s insurance may cover losses to your personal property in the event of flooding in the home.
How long can I rent for?
- Sell & Stay allows you to rent for up to five years total. You can terminate your lease at any time with no penalty by exercising your Sell & Stay Option and closing on your repurchase or the third-party sale of the home.
- MoveAbility allows you to rent for up to 12 months. You must direct us to list the home on the market within the first nine months.
Who pays for home repairs?
EasyKnock pays for repairs to the home after purchasing it.* Tenants are responsible for cosmetic repairs, and repairs needed because of tenants’ damage to the property, not due to normal wear and tear.
*Some repairs for fire, life, and safety reasons are required conditions for closing on a transaction and the responsibility of the seller, although they may be completed after the sale.
How do I request repairs or maintenance to the property during my lease?
EasyKnock customers in need of repairs or maintenance should reach out to us via phone (646-459-6934) or email (tenant@easyknock.com),
If I choose to have the home listed, do I pay rent during this period?
If you choose to list your home on the open market and move, you will be required to continue to make monthly rent payments until the house sale closes.
Pricing and Fees
Expand AllCan my estimate change?
The estimated cash you may receive at closing is just an estimate. While we aim for accuracy, certain crucial details can only be confirmed through an appraisal, inspection, and title search. The final numbers may be influenced by findings from the title company, home inspector, or appraiser.
What are the costs and fees associated with a Sell & Stay transaction?
Initial Sale:
- Processing Fee: As a Sell & Stay customer, you pay a Processing Fee of 2.99% of the home value, which will be taken out of your proceeds.
- Closing Costs: You will be responsible for both the buyer’s and seller’s closing costs.* These are ~1.5% of the home's value but vary from state to state.
- During Your Tenancy: During your tenancy, you pay monthly market rent. The rent will increase by the greater of 2.5% or CPI-U (Consumer Price Index for all Urban Consumers) annually.
*Closing costs and fees are subject to change and are based in part on information provided in your application.
Second Sale:
- Option Fee: The Option Fee is a part of your Buyout Cost. This fee is incurred annually. The Option Fee is taken out of the proceeds from the second sale.
- If repurchasing, you will be responsible for the buyer's closing costs.* If selling the home on the open market, closing costs will be covered, but you will be responsible for your agent commission.
*Closing costs and fees are subject to change and are based in part on information provided in your application.
What are the costs and fees associated with a MoveAbility transaction?
Initial Sale:
- Processing Fee: As a MoveAbility customer, you pay a Processing Fee of 3.75% of the home value which will be taken out of your proceeds.
- Closing Costs: You will be responsible for both the buyer’s and seller’s closing costs. These are ~1.5% of the home's value but vary by property location.*
Second Sale:
- Option Fee: Sellers can exercise their right to list and sell the property at any time during the year after EasyKnock purchases it. They will be charged a 1% Option Fee if they exercise that right and close on the sale within the first six months. If they exercise the Option after the first six months, a second Option Fee of 1% will accrue.
- Closing Costs: When you direct EasyKnock to sell your home on the open market, EasyKnock, and the new buyer will cover closing costs but you will be responsible for any agent commission.
*Closing costs and fees are subject to change and are based in part on information provided in your application.
Who pays property taxes and homeowners insurance?
Once EasyKnock buys your home, we pay the property taxes, homeowners insurance, and any HOA fees. However, EasyKnock recommends our customers get renters insurance in addition to the required liability insurance.
What third-party costs am I responsible for?
During the initial transaction, you are responsible for both buyer’s and seller’s closing costs. You are not responsible for the cost of the appraisal or inspection.
For the second transaction, if you are repurchasing your home, you will be responsible for the buyer’s closing costs. If you direct us to sell, you will be responsible for any agent commission.
Ready to get started?
Get in touch today to see how our sale-leaseback solutions are changing residential real estate for the better or click the button below to see if you qualify.
