Frequently Asked Questions

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Market Real Estate has been in the real estate industry for over 18 years and has extensive experience in buying and selling various properties, including residential, commercial and multifamily assets.

This will require meeting to discuss the associated fees more in depth so you have a full explicit understanding, but below is the two sale breakdown:

1. Sell side sale - 1.2% listing fee paid to Market Real Estate, a 2% fee paid to Knock as our partner, a buyer agent fee you dictate for your existing home sale and closing escrow fees as cash due at closing.

2. Buy side sale - Closing escrow fees as cash due at closing. No fee charged by Market Real Estate as we take a buyer agent commission from the advertised MLS listing. No fee charged by Knock on buy side sale.

That's ok! You can still use our program on the buy side. The sale of your existing home is a completely separate sale and we would never unprofessionally 'sign cross' so we encourage you to continue with your current agent unless your circumstances change in the future. You'd just pay your agent whatever you have negotiated with them to list and sell your existing home. 

The 1.2% listing fee to sell your existing home is contingent upon you utilizing our program on the buy side transaction as well, which benefits you through all the added value and feature rich components of our program anyway. If using our program on the buy side as well, you'd gain access to so many key features like a cash backed loan to look like a cash buyer, a home warranty, up to $35k to reno your current home and an appraisal reimbursement should the sale fall through.

Knock is our program partner, which is a technology company creating innovative home loan products, like the Knock Home Swap™, to enable people to easily buy their new home before selling their existing one on the open market with their preferred real estate agent. They are not an iBuyer or home flipper. They work with your agent or pair you with a local agent to sell your current home on the open market so it sells fast and for the best price. Since 2015, their mission has been to empower people to move freely by bringing convenience, certainty, and cost savings to home buying and selling, and are excited to be partnering with us across the country to offer the Knock Home Swap.

For Knock Home Swap™ they charge a 2.0% contract fee based on the estimated list price of your old house, which is similar to an origination fee you'd pay with other lenders. Like many lenders, Knock also sells your loan after closing into the secondary market (meaning to large banks and loan servicers). This sale doesn't cost you anything, and it doesn't impact your loan rate or terms in any way. All it means is that you'll send another servicer your new mortgage payments. Those buyers in the secondary mortgage market pay Knock a fee for the loan's rights so they make money by servicing your loan over the coming years and earning interest (the interest in your mortgage payments). This is how many lenders make money in the mortgage business.

The Knock Home Swap™ empowers you to buy your new home prior to selling your old house on the market for maximum value. Here’s how it works:

1. They’ll get you fully underwritten for a new home loan with Knock including a down payment advance so you can start making offers fast.

2. Put down a winning offer on your dream home with no sales contingency, and move in right away. You'll pay your new mortgage and Knock will pay your old mortgage with the Knock Equity Advance for up to 6 months.

3. They’ll advance up to $35,000 to get your old house ready for listing on the open market so it sells fast and for top dollar. When your house sells, you simply pay Knock back for the loan provided. It’s that simple!

Knock GO™ (Guaranteed Offer) combines the best features of a cash offer in a competitive new home loan, so you can beat out other buyers for your dream home without paying more. You can learn more here. 

In addition to the conventional loan on your new home, Knock qualifies you for and provides a bridge-like loan, that they call the Knock Equity Advance, to you. This equity advance is an interest-free loan that allows you to access the equity in your existing house now, before you sell, so you can buy your new home. 

You’ll pay the mortgage on your new home, immediately building equity, and Knock will pay your old mortgage with the Knock Equity Advance for up to 6 months.

 Knock offers competitive rates on their loan products. Rates may vary based on qualifications. For a custom quote, please complete their online application at knock.com!

Yes absolutely! As long as the builder is funding the cost of construction prior to the final closing (most large builders do this). There are some specific details unique to new construction deals depending on time to build (related to pre-approval requirements and rate locks) that you’ll want to review with your Knock Mortgage Loan Advisor once they’ve received your application.

Yes! Though there are a few exceptions. As long as the home will be used as the primary residence, Home Swap can be used to buy condos, and to buy and sell townhomes and single family homes.

Unfortunately, if your current residence is a condo, it does not qualify for Home Swap at this time, but you can still get many of the same benefits with a Knock GO™ loan!

Most homes will qualify for the Home Swap. Some things that would impede a home from qualifying would be if it’s in a 55+ community, significant water damage or foundation damage, a lack of recent similar sales data nearby, unpermitted additions, or if a home is a distressed sale or bank owned.

Home Prep funds cover cosmetic improvements that you and Market Real Estate suggest to assist with the sale of your departing home. You can work with a contractor or complete repairs on your own, as a DIY. Your Knock Home Consultant will work with you on project scope, approval, and then pay you directly for the work you plan to complete. 

Yes! We want you to feel comfortable with the people doing the work. We only require that they be licensed, insured, provide a signed W-9, and sign our vendor agreement. 

It’s important to speak with your loan advisor if you are planning any home improvements prior to listing. It’s important to speak with your loan advisor if you are planning any home improvements prior to listing. You may want to ensure that a budget is included within your equity advance loan based on your plans, even if you are uncertain about what you want to do. We want to ensure that a budget is included within your equity advance loan based on your plans, even if you are uncertain about what you want to do. 

With the Home Swap, you'll list your existing house on the market after you've purchased and moved into your new home. The goal is for you to sell your listing on the market for max value with us. That said, on the off chance your listing doesn't get under contract, Knock will buy your home with the offer that we provide you up front.*

*Terms and conditions apply: The Knock Purchase Offer is a real estate contract. Knock requires a licensed agent to list your home (no 'For Sale By Owners'). Appropriate counsel should be sought from an agent or attorney.

A delayed closing is stressful for everyone involved. We’re committed to giving you and the seller the peace of mind of a guaranteed closing timeline or we will make it right… and it makes your offer more competitive, too! Learn more here.