Sell and Stay is designed for people who own single-family homes. They're looking to tap into their equity but aren't necessarily ready to move out of their space.
Depending on your credit history or type of employment, re-fi and loan interest rates can really add up. If you don't qualify for the traditional credit line or loan, or you're looking to access your cash a bit faster, Sell and Stay might be just right for you. Our customers don't always fit the cookie-cutter shape that banks are looking for, so we offer them useful solutions for using the equity they've already built to get the money they need.
We can close a deal in as little as 21 days. We move fast so you can get your cash in your hands when you need it.
Since there are two parts to the program, there are two documents that govern our agreement. “Sell” is marked by a purchase and sale agreement. “Stay” is governed by a residential lease.
We have lawyers who draft our agreements, and then we send it off to you to review. Just like any home purchase or transaction, we highly recommend that you have your own attorney review them too.
Each home is different, so each rental agreement, including the cost, will be unique. Overall, our rent is based on the market rent (the standard rent of homes like yours in your region).
Like most lease terms, ours is 12 months long, and can be renewed for up to five years. Don’t fret, we’re here to provide flexibility, so you can decide to repurchase your home or move at any point during the lease.
We don't want to see anyone forced out of their home. Before we move forward with an agreement with someone we try to make sure that the rent is affordable and can reasonably be paid every month. If however, someone stops paying rent we’ll provide notice, and options to fix it. If we can't come to a solution, we may evict. If evicted, you'll still receive the remainder of your equity after we’ve recouped the unpaid rent amounts, any of the selling costs, and any legal fees associated with the eviction. In the case of eviction, we'll sell the home using an auction-sale process.
If the value of your home goes up by the time you decide to move, the option language in your agreement ensures that you'll receive the appreciation after EasyKnock fees.
You'll be responsible for basic maintenance like lawn care, snow removal, and appliance repairs.
Since EasyKnock will now own the house, the taxes are now our responsibility. A perk you can quite literally count on!
We always encourage tenants to have renter's insurance. You never know what nature has in store, so it's great to have a policy on your side just in case.
The Option Agreement lets you authorize the sale of the house at any time. You can control the timing, asking price, and even the listing agent (if you want to).
Our lease has an "option agreement" that lets you buy back your home anytime. You are responsible for obtaining financing.
We're happy to refer you to partners we work with, but you can also reach out to people you know or that an attorney recommends for you.