Realtor.com and EasyKnock have teamed up to give customers the option to access the value of their homes without having to move immediately, in the midst of the coronavirus pandemic.
Sell and Stay offers longer-term lease options and the opportunity to buy back the home, while MoveAbility is aimed at homeowners who would like to move but haven’t found their new home yet.
“The COVID-19 crisis has had a profound impact on the job market which may lead some families to make extremely difficult decisions,” said Todd Callow, vice president of product management at realtor.com.
“As part of our mission to provide consumers with all of the available information to help make informed decisions, realtor.com will inform consumers about EasyKnock’s options so they can determine if the programs are a good fit for their financial and housing needs,” Callow said.
EasyKnock purchases the home for its full appraised value with a combination of cash and choosing Sell and Stay or MoveAbility, closing on the home within an average of 21 days.
Then, homeowners can choose to rent the home for as long as they want. Once they decide to move out, the consumer lets EasyKnock know they’d like to sell the home, receiving additional proceeds when the sale closes.
EasyKnock said it buys single-family homes, townhomes and warrantable condominiums that are valued between $100,000 and $1,000,000, with the mortgage 40% paid off.
Earlier this week, realtor.com launched Livestream Open Houses, allowing agents to show homes through scheduled live tours. According to realtor.com, the company does expect to continue offering the solution beyond the pandemic.