EasyKnock

EasyKnock Reviews

About EasyKnock

EasyKnock is a real estate technology company. The company offers two programs for homeowners: Sell & Stay and MoveAbility. These programs allow you to convert the value of your house into cash without having to move. In some cases, you can even buy your home back or renew your lease.

Pros
  • Quick conversion to money
  • No need to move
  • Lenient eligibility requirements
Cons
  • You no longer own the home
  • Fees if you buy back or move

What is EasyKnock?

EasyKnock differentiates itself from real estate technology companies and banks by building relationships with its sellers. The company’s programs — Sell & Stay and MoveAbility — let you convert funds based on your home’s equity without first moving out. EasyKnock acts as your landlord after purchasing your house.

EasyKnock buys single-family homes and townhomes. The company purchases homes at a fair market value determined by a local, third-party, licensed appraiser. The Sell & Stay option and MoveAbility option allow you to receive additional funds if your home appreciates by the time it sells. But you also could lose funds if your home depreciates.

EasyKnock works with a broad range of income types and credit scores. It’s important to note that the repurchase option isn’t available in all states.

How does EasyKnock work?

EasyKnock buys your house at a fair price and rents it back to you. This lets you convert the funds you need without you leaving your home. You may receive between 75% and 90% of your home’s equity, depending on the program you choose.

Sell & Stay and MoveAbility homeowners have the option of receiving the home’s remaining balance when it sells. When you're ready, you can put your house on the market with the listing price and agent of your choice.

Since you’ve already received the equity, it matters less how long the home takes to sell. EasyKnock is an option for finding or building your dream home without a bridge loan.

In the meantime, you can lease the home and continue living in it. Sell & Stay homeowners in some states have the option to repurchase the home eventually. With the MoveAbility option, you can stay in your home and pay rent for up to 12 months while finding another home, but the lease is nonrenewable.

The company’s programs help reduce your housing bills by handling expenses such as property tax, homeowners insurance and other costs while you rent.

EasyKnock programs

EasyKnock has three programs:

  • Sell & Stay is designed for homeowners wanting to convert their home’s equity now but who might desire to repurchase their home later. You can tap into as much as 75% (or 85%, in certain cases) of your home’s equity and receive the rest of the balance when your home sells. You can also potentially receive additional money if your house appreciates by the time of sale. This program lets you live as a tenant in the home for as long as you’d like.
  • MoveAbility is similar to the Sell & Stay program, except you don’t have the option to buy back your home. You can receive up to 85% of your home’s equity and rent the home for as long as 12 months. MoveAbility leases cannot be renewed.

EasyKnock fees

As the seller, you’re responsible for both buyer's and seller's closing costs, which are based on your home value and your area’s practices. These are about 1.5% of the home's value but vary by location. You also pay EasyKnock at closing for any presale repairs.

As far as your monthly rent, your purchase agreement discloses the amount, so you’ll know before you sign. EasyKnock sets this rate based on rent prices in your area. The company uses an independent third-party analytics vendor to analyze your area’s going rates.

EasyKnock’s Sell & Stay program has annual rent increases of 2.5% or the consumer price index (CPI) — whichever is greater.

EasyKnock’s processing fees depend on which solution you choose. The Sell & Stay program charges a processing fee of 4.99% of the house’s purchase price. MoveAbility charges 3.75% of the purchase price (minimum of $5,000).

Sell & Stay and MoveAbility have an additional annual option fee of about 3% if you sell your house. If you buy back your home under Sell & Stay, the annual fee is also about 3%.

EasyKnock FAQ

Is EasyKnock a reverse mortgage?

No, EasyKnock is not a reverse mortgage. EasyKnock offers residential sale-leaseback solutions. This is when you sell your house to someone or a company and then rent it. It’s a way to get cash for part of your home’s equity without having to leave it.

Where is EasyKnock available?

EasyKnock is available in most states but doesn’t serve every market. It encourages you to fill out a qualification form to find out if EasyKnock is available where you live.

What types of homes qualify for EasyKnock?

EasyKnock only buys single-family houses and townhomes. Other properties, like mobile homes, multifamily units, commercial units and certain rural parcels, are ineligible.

Who owns EasyKnock?

Jarred Kessler is EasyKnock's founder and CEO.

Is EasyKnock legit?

EasyKnock is a legit company that can help homeowners who need to convert their home equity. Whether you’ve hit a rough patch financially or need your home’s value to purchase or build your new dream home, EasyKnock can help.

EasyKnock's credit score requirements aren’t set in stone, so it’s also helpful for those who don’t otherwise qualify for a loan. The purchase process is straightforward, and you receive money quickly. From there, you can continue living in the home as a tenant, move to a new home when you’re ready or repurchase the house when you’re able.

EasyKnock Reviews

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    Customer ServiceContract & TermsPrice

    Reviewed Sept. 19, 2024

    I entered into my Easy Knock Contract October of 2022. I chose the Stay and Sell option. I was only going to use EasyKnock for 6 months. Due to unforeseen and unfortunate circumstances, I ended up doing EasyKnock for 2 years. This past June of 2024 I decided to put the property up for sale. I am allowed to do that. I had already wasted $25,084. in rent and $33,859 in the very expensive EasyKnock fees. Keep in mind you do not own the property, you are the tenant. The deed is under EasyKnock. They pay the property taxes, you are responsible for all maintenance and repairs. You pay into a repair fund which mine was 16,250. If you do call for a repair you're ignored so you have to pay to fix it yourself.

    I hired my own realtor which you can also do by the Stay and Sell Contract. 8/5/2024 I received an offer on the home that I accepted and the closing date was 9/18/2024 the day I'm writing this review. Didn't Happen. Why? EasyKnock comes up with figures that are wrong. I have been fighting with them for over a week to correct the figures. I sent them proof that my figures are correct by my original Sellers Closing Statement and copies of my contracts with them. I also sent the same information to my realtor who does agree with me. Example of one figure being wrong is the rent. I didn't pay July, August and September rent due to an offer on the property. It will be straightened out at closing. They say I owe them $6761. My records and the EasyKnock website where you pay your rent, states 3,380.82. They keep making up these weird fees that are not listed in any contract.

    No closing today. EasyKnock won't take responsibility and give you correct numbers trying to cheat you. I am contacting several Federal Organizations to tell them my experience with EasyKnock. From what I've read in reviews EasyKnock needs to be put out of business. There are numerous lawsuits against this company.

    DO NOT DO BUSINESS WITH THAT COMPANY. THEY WILL SCAM YOU! I will keep you posted on the closing of the property. Buyer Beware....

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    Reviewed Sept. 14, 2024

    This company is a predator. Do not do business with them. They prey on people who have less than perfect credit. I lost my home to them when I lost my job. I tried to work out a payment plan but to no avail.

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      Customer ServiceContract & TermsCoveragePunctuality & SpeedStaff

      Reviewed Aug. 15, 2024

      I entered into a lease back agreement with Easy Knock or EK Real Estate, LLC. They gave me an advance on some of the equity in my house upfront and I would pay them $25000 per month in rent to stay there until I got ready to sell the house or until I was ready to purchase the house back from them. They were the landlord and I became the tenant. They purchased the property from me for $320,000. They advanced me a total of $69,000, but kept $18,000 for a repair fund that I had not been made aware of prior to closing. They were requiring me to make repairs to their property with the money from my equity. So, I only received $50,000.

      In February 2023, the basement flooded. It took them 3 weeks to respond. There was mold everywhere. I kept emailing, calling, and texting them. They refused to give me an address to send a certified letter. I continued to pay my rent on time for March, April, and May. Keep in mind, I was still constantly asking them to send someone over to clean and repair the basement that was filled with mold. They didn't respond until I stopped paying the rent in June. Then, Robert stepped in. He gave me all kinds of excuses as to why no one had responded. He stated that they were short staffed. There were so many issues by the time he stepped in. There was a broken window that they agreed to repair (in writing in October of 2022). The basement was filled with mold. The mold was permeating all throughout the house via the HVAC system.

      I went back and forth with him from May-September. At first, he kept claiming that they were sending someone out and the contractors never showed. This happened for months. Then he ran with the narrative that they couldn't do the repair because I wasn't available during business hours and that they refused to pay fees for after hours or weekends. The flood happened in February 2023 and I had been at home around the clock until July because I had a major surgery. They had six months to get someone out there to clean and repair the basement because I was home around the clock recovering from major surgery.

      The air conditioning went out in June. They finally sent someone out in October. They're so ridiculous, they sent two technicians out to service the AC in October after I had already turned the heat on. They then sent an inspector out and their own inspector found asbestos. When I reported this to them they started the eviction process.

      I tried to negotiate a fair amount with them because eventually I had to move my family out of the house and pay rent at the new location. They told me in writing not to do any repairs to their property. I was willing to make the repairs and deduct it from the rent, which is allowable in Illinois. I asked them could we move a portion of the agreed upon negotiated amount of the rent to end to be collected when the property sold and they refused. When the case went to eviction court, I was notified that I was eligible for rental assistance. I applied for rental assistance and was approved. The rental assistance amount would have covered all of the back rent that they alleged that I owed. They refused to accept the money, even though I agreed to move out. After I spent several thousand dollars on a lawyer they agreed to drop the case and forfeit the back rent providing I moved out of the property by 03/01/24.

      I moved out and they refused to give me any information about the property and what was going on. Brooke ** is a horrible person. She's the one who started the eviction process and refused to tell me who I could talk to about the next steps. I was able to get her on the phone a couple of times when I called from other numbers. However, she eventually just stopped responding and I discovered that the property had been listed by doing daily searches on **. They didn't allow me to have any part of the sale, which goes against our contract. They tried to claim that there was a default and that is why they were not allowing me to have any say so. The house was listed in March. They told me that they had a buyer and that the closing was schedule for 05/10/24.

      They said the house was selling for $310,000 with $10,000 in seller concessions. They then said that it had to be pushed back because of the repairs (remember there was still mold in the property) and the closing would be on 05/17/24. It was pushed back to 05/23/24, then 05/24/24, then 06/12/24, then 06/16/24, then 06/20/24, then 07/10, and it finally closed on 07/26/24. In the midst of all the nonsense with the closing, they had the house reappraised, which is unheard of! I then told them that they needed to be showing the house to other buyers, since the buyer's attorney kept requesting to push the closing date back.

      After all of this, they offered me $6000. They sent me a generic paper that looked like it had been put together by a 6th grader showing what they deducted. They will not allow me to see the actual closing statement. They deducted the back rent plus an additional $3600 for rent, $15,000 for a realtor's fee, $5500 for property management, and a lot of other random fees that were not agreed upon in our original contract. The individual who is occupying the house showed me her closing statement and that she purchased the property for $27,000. How is this possible?

      These people are crooks. They have been sued in many other states and have been shutdown by the Attorney General's office in Michigan, Texas, Maryland, South Carolina, Connecticut, Pennsylvania, and Massachusetts. Please do a google search on them before you do business and you will see all the lawsuits and feedback from other consumers they have ripped off.

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      Customer ServiceStaff

      Reviewed July 20, 2024

      Absolutely unprofessional company. As soon as I started talking about HEA options and asked a few questions, the kid on the other end of the line got flustered and disconnected. Someone called back and asked the SAME questions and I had to go thru process again. Only the MOST desperate people would consider this joke of a company.

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      Customer ServiceContract & TermsSales & Marketing

      Reviewed July 9, 2024

      Worst decision I have ever made doing business with Easyknock, They will answer all questions with lies to lure you in. Once you do business with them seem like you are stuck. Can't afford to buy the house back but they say you can move and sell. You have to live there and sell and you can't give any notice to move until after the house sells or they will tell future landlords you did not meet your contractual agreement by giving notice. None of this makes any sense and sadly after my husband passed I fell for the scam.

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      Reviewed May 15, 2024

      Let us Start from Home Equity Loan. When you get Home Equity Loan or line of credit, No bank transfers the homeowners deed and a title. The bank holds your Home as a collateral, lend you money and attach a Lien until you pay off the Loan. Can anyone make me understand how Easy knock Operates under Home Equity Loan.? If this is a loan, where is the terms, condition and the annual percentage rate? I have seen deception but not like Easyknock. Biggest mistakes of a lifetime. Unethical and incompetent, this is not just Deception, it's violation of human rights and domestic violence, UNSEEN!

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      Reviewed May 2, 2024

      This company is a joke. Where in your commercial on the radio do you mention you have to have less than 60% loan to equity value? Nowhere but that's what you deny inquiries based on so your marketing is very deceptive.

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      Reviewed April 16, 2024

      I only wanted 120,000, said it's not a loan and made me take out all my equity of the home. Now they want to go to arbitration, it's dangerous in Texas because it's illegal but barely any case law in 40 years. I would stay far away from the company. The lady gave me the false promise of rent relief and said I didn't recall until I provided a recording and said something else with another recording I could prove was a lie also. Long story short, never trust your deed unto random people. They're suing their own lawyers, they're suing lawyers for defamation for defamation, they lied to me, they're suing a bankruptcy agent and claiming the government is lying in Connecticut. This is insane, stay away from these people. Run far far away.

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      Reviewed April 9, 2024

      I sold my home to Easy Knock choosing the option value. Agreeing to lease the house for 1 year while we found another house. We found another house fulfilling the 1 year lease agreement. Have our notice per the lease agreement and contract of sale. And we’re supposed to get our balance paid out within 3-8 from the move out date. It’s been almost 2 years and nothing. And if you try to talk to anyone you are passed from 1 person to another and get nowhere. Be very cautious with if you want to consider doing anything with Easy Knock.

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      Reviewed Jan. 16, 2024

      Easy Knock has recently been banned from doing business in MA for fraudulent practices and there are over 30 lawsuits in the Southern District court of Texas for fraud, truth in lending, racketeering and many more. I got a loan from them in 2018 of which they loaned me 1/2 the value of my home with the promise that I maintained 1/2 the equity in the house. Everything they said has been a lie. In 2021 they raised the monthly payment 3 times in 13 months and refused to correct their books or the amount I owed them. A Judge in November ruled they had overcharged me $17,000+ dollars. They took me to eviction court because I refused to pay anymore till they corrected their books. When the Judge asked them if I could stay in the house if I paid what was truly owed they said no and had us thrown out of our home by a constable just before Christmas.

      I came up with 2 different cash buyers for the amount they said I owed (which is less than 1/2 the value of my home) and they refused to do the sales and now they are saying they owe me nothing else. They owe me over $150,000.00. They will steal your home. They know the loopholes in the laws. They will tell you any lie to get you to sign a contract. Stay away from them. If you do sign a contract then also Opt out of Arbitration so you can sue them directly. I contacted Jarred ** directly and he refused to talk with me to resolve this situation. A lot of the good reviews of the company are paid reviews or done by their financial partners. This company does not know how to spell the word honest at all. Google lawsuits against EasyKnock, aka, EK Real Estate Services of NY and you will find out just how bad this company is.

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      EasyKnock Company Information

      Company Name:
      EasyKnock
      Website:
      www.easyknock.com