EasyKnock

EasyKnock Review

EasyKnock is a leaseback platform founded in 2018 and based in Miami, FL. EasyKnock is available in 50 states (and Washington, DC).

Key Takeaways

• Available in most states. EasyKnock is available in 50 states.
• Rental flexibility: Homeowners can negotiate leaseback terms, including the duration of the lease agreement, providing flexibility to meet their needs.
• Financial flexibility: By selling and renting back their home, homeowners can free up their home equity without needing to relocate.
• No upfront costs: Homeowners can explore EasyKnock platform without incurring any costs until the transaction is closed.

EasyKnock Pros & Cons

Pros	Cons
Available in all 50 states. Long-term leases available. You maintain rights to home appreciation. Guaranteed Buy-Back option.	Lack of rental flexibility and customizable leaseback terms.

EasyKnock FAQ

How does EasyKnock work?

EasyKnock is not your traditional home equity investor. Instead it buys your property and then leases it back to you. You receive a lump sum of cash from the sale, while remaining in your home as a tenant.

Who should consider using EasyKnock?

Homeowners who want to get as much equity out of their home without having to move and are comfortable with transitioning from homeownership to being a tenant should consider EasyKnock. This option can be particularly useful for those facing difficult financial or life situations such as divorce, retirement, foreclosure, bankruptcy, job loss, medical situations, inheritance, and debt.

What is the cost of using EasyKnock?

Each transaction is unique and varies based on several factors. Generally, you can expect to bear the following costs.

EasyKnock Fees

Description
Closing Costs (%)	1.5%
Processing Commission	4.99%

Real Estate Fees: EasyKnock Inc charges a processing fee of up to 4.99% of the sales price.

Closing Costs: Up to 1.5% of the sales price. Typically, you will be responsible for the sellers and buyers closing costs.

Note: There are no costs incurred until the transaction is closed.

What are the leaseback terms with EasyKnock?

The leaseback terms with EasyKnock are flexible and are negotiated upfront by the homeowners themselves. The homeowners have the ultimate decision on the duration of the lease agreement and other lease terms.

How long can you stay in your home once you sell it?

EasyKnock offers longer-term leases to tenants. Some use leasebacks as a temporary solution while planning their next move while others view it as a long-term solution.

What are the benefits of using EasyKnock over traditional selling methods?

Opting for EasyKnock over traditional selling methods offers a range of advantages tailored to the seller's needs. With EasyKnock, homeowners have the option to stay in their property even after selling. This unique approach provides a more discreet selling experience, eliminating the need for open houses or advertising signs. EasyKnock prioritizes privacy by minimizing property inspections, ensuring convenience and peace of mind throughout the process. By choosing EasyKnock, homeowners can also alleviate the burden of ongoing homeownership costs like maintenance, property taxes, and the additional expenses associated with moving and realtor fees, which are typically incurred when pursuing a traditional sale and move. This innovative solution empowers sellers to achieve a seamless transition while retaining the comfort and familiarity of their property.

How long does it take to get an offer with EasyKnock?

Once the evaluation process is complete you will receive an offer. This usually takes up to 5 days to process once all information has been received.

How long does it take to close a deal with EasyKnock?

EasyKnock does not disclose how long it typically takes to process the sale and lease of a home.

What types of property does EasyKnock consider?

EasyKnock will consider owner-occupied residential homes (single family houses and townhouses).

After closing, who pays the property taxes, HOA fees, maintenance and insurance?

The landlord will become responsible for these expenses.

Is EasyKnock Inc a legit company?

EasyKnock was founded in 2016. It is an established company that has been in business for 7 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.