The COVID-19 crisis has prompted the need for 9 percent of consumers to unexpectedly move to a new home within the next six months, according to a recent consumer survey from realtor.com®. In an effort to provide more flexibility to consumers impacted by the crisis, realtor.com® is working with EasyKnock, a provider of “sell now, move later” options which enable consumers to access the value of their home without having to move right away.
As part of this solution, realtor.com® users will be able to quickly determine their eligibility for, and likely proceeds from, two EasyKnock programs—Sell and Stay and MoveAbility. 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.
Through the programs, EasyKnock purchases the home for the full appraised value with a combination of cash and an option, and closes on average within 21 days. Homeowners can choose to rent the home back for as long as they’d like. When the time comes, the consumer gives EasyKnock the go-ahead to sell the home on the open market and can receive any additional proceeds when the sale closes.
“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, product management, 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.”
Realtor.com® has launched a dedicated site with information, resources and tools to help consumers navigate these uncertain times. Additionally, realtor.com® has made a series of product updates to help consumers get as much information and detail as possible about a property without physically visiting. This includes more 3D tours, video chats and access to Livestream Open Houses.
To learn more, go to www.realtor.com/covid-19.
