SELL & STAY
Sell, Rent, and Remain in the Home You Love
What is Sell & Stay?
Convert your home equity into cash to reach your financial goals while remaining as a renter in the home you love. Sell & Stay by EasyKnock provides a residential sale-leaseback solution free from many lender restrictions.
Why choose Sell & Stay?
Keep the Option to Repurchase
Remain as a renter for up to five years total. At any point, you can choose to repurchase the home for the agreed-upon Buyout Cost.
Avoid Lender Restrictions
We are not a lender. That means you won’t face credit score or debt-to-income (DTI) requirements.
Retain Appreciation
You maintain the rights to any home value appreciation over the agreed-upon Buyout Cost, minus agent commission if you direct us to sell at a later date.1
What do you stand to gain with Sell & Stay?
$5,000 +
Average annual home expenses covered
On average, between taxes, insurance, and HOA fees, EasyKnock covers $5k+ in annual home expenses.2
of Sell & Stay homes appreciate
If the home value appreciates during your lease term and you choose to have us sell it, that appreciation goes into your pocket.1
Sell & Stay customers saw an average of 20% in home value appreciation.3
An average 35-point credit score increase
When EasyKnock purchases the home, a customer’s existing mortgage is paid off and many customers use the remaining cash to pay off debt. On average, customers with an initial credit score below 620 have seen a 35-point increase.4
The Sell & Stay Option
At any point during the lease, the Sell & Stay Option allows you to repurchase the home or direct us to sell on the open market. You may repurchase the home for the Buyout Cost and buyer’s closing costs.
If you direct EasyKnock to sell the home on the open market, you keep any applicable home value appreciation and receive the full market value of the home minus our Buyout Cost and your agent commission.1
Sell & Stay Features
Convert 100%
of the home’s appraised value into cash + Sell & Stay Option
Receive up to 75%
of the home's appraised value in cash
12 Month Initial Lease Term
Auto-renewing for five years total with the ability to exercise your Sell & Stay Option at any time
How We're Different
Lenders*
620+
None
~43-50%
None
Up to 80%
of the home value in the form of a loan, paid back with interest
Up to 75%
of the appraised home value as cash
None. However, taxes and insurance may be escrowed.
Property Taxes
HOA Fees
Homeowners Insurance
Repairs & Maintenance**
Strict
Flexible
How Sell & Stay Works
01
Get Qualified
Tell us about yourself and we’ll match you with a program, and provide you with an estimate of your home’s value and potential cash funding. When you’re ready to proceed, you’ll sign a non-binding Letter of Intent (LOI).5
02
Sign, Close, and Get Your Cash
There’s a traditional 4-6 week real estate home closing process. Once your home is sold to EasyKnock, you get the agreed-upon cash and your lease begins.
03
Stay in Your Home
You stay in the home as a renter while deciding on your next steps. You can choose to repurchase the home or direct EasyKnock to sell it on the open market.
Your Sell & Stay Buyout Cost
Once you’re ready to either repurchase the home or direct us to sell it on the open market, you will pay EasyKnock the Buyout Cost. Your Buyout Cost equals the Option Exercise Price, each year’s Option Fee (based on the length of tenancy), and any outstanding amounts.
Your Options:
Option A: If you choose to repurchase your home,
The Buyout Cost will be the Option Exercise Price + the Option Fees you pay based on the years of your lease. You will be responsible for the buyer’s closing costs.
Option B: If you choose to sell on the open market,
you will receive the final sale price minus the Buyout Cost and your agent commission. EasyKnock and the new buyer will cover the closing costs. You will also receive home value appreciation, if applicable.1
Associated Costs
Sell & Stay consists of two real estate transactions, so it's important that you understand which party is responsible for each expense.
Initial Sale
Processing Fee
As a Sell & Stay customer, you pay a processing fee of 4.99% of the home value, which will be taken out of your proceeds.
Closing Costs
You will be responsible for both the buyer's and seller's closing costs.6 These are ~1.5% of the home's value and vary from state to state.
Second Sale
Option Fee
The Option Fee is a part of your Buyout Cost. This fee is charged annually. Half of your first-year’s Option Fee is taken out of your cash from the initial sale. The remaining Option Fee is taken out of the proceeds from the second sale.
Second Sale Closing Costs
If repurchasing, you will be responsible for the buyer's closing costs. If selling the home on the open market, closing costs will be covered by EasyKnock and the buyer, but you will be responsible for your agent commission.1
Erin's Story
“After selling the house to EasyKnock, it's just made things easier financially on us. It's lifted a burden off our shoulders to be able to move forward and plan our budget for the future as opposed to worrying about previous debt.”
Erin, EasyKnock Customer
Dayton, Ohio
Disclosures
*
Lender requirements vary.
**
Tenants are responsible for regular maintenance, cosmetic repairs, and cleaning of the property and its common areas.
1
Terms and conditions apply
2
As of November 2022. As the property owner, EasyKnock pays all HOA fees, property taxes, and homeowners insurance costs after finalizing a Sell & Stay deal. Calculations based on the average home in our portfolio as of November 2022 and uses the national yearly estimates for average homeowners insurance costs. Deventer, Cate. “Average Homeowners Insurance Cost in November 2022.” Bankrate, 31 Oct. 2022.
3
As of November 2022. Based on Sell & Stay clients who chose to exercise their Option to sell the home during the September 2020 to September 2022 time period.
4
As of December 2021. Based on tenants in good standing. Several factors will impact overall credit score. An increase in credit score in any amount or above 620 is not guaranteed.
5
The Letter of Intent is to inform EasyKnock of the intent to proceed with the application and its terms and fees.
6
Closing costs and fees are subject to change and are based in part on information provided in your application.
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These materials are promotional in nature and are not offered as advice and should not be relied on as such. EasyKnock, Inc. as well as its subsidiaries and affiliates (collectively “EasyKnock”) are not lenders and do not provide loans. The transactions described in these promotional materials are sale-leasebacks and involve the sale of the property to EasyKnock and subsequent lease of the property from EasyKnock. Some transactions may include an Option Agreement. The ability to repurchase a property via the Option Agreement depends on the specific product and product offerings vary by state.