If you’re a homeowner planning to relocate, you usually have two choices. You can sell your old home first, then hope to quickly buy and move into a new home. Or you can buy a new home first — if you can afford the down payment and closing costs without selling your old house first.
Knock’s innovative Bridge Loan provides a solution to the complicated process of buying and selling a house at the same time by offering two types of financing:
- An interest-free bridge loan that covers transaction-related expenses, such as a down payment on a new home, repairs to the home you’re selling, and overlapping mortgage costs
- Approval for a new home loan before your old one sells, backed by Knock’s guaranteed purchase offer
With a guaranteed backup offer and bridge loan to cover your down payment, you can make a more competitive offer on a new home and move in right away. Knock will take over your previous mortgage while you work with an agent to market and sell the house.
Knock's bridge loan costs 2.25% of your estimated list price, plus $1,850 in loan fees. However, you can offset a lot of these costs by working with a realtor that offers commission savings.
Thinking of using Knock? Here's a quick rundown
👍 Why Knock might work for you:
- Buy before you sell = less stress — Knock's Bridge Loan lets you tap into your home equity to buy a new house before you sell your current one. That way, you don't have to worry about lining up the closing dates or having to move first in order to free up funds for your next place.
- Interest-free funding for 6 months — The bridge loan comes with zero interest for up to 180 days, giving you breathing room to sell your current home at the best possible price. You also get a guaranteed purchase offer from Knock in case your house doesn't sell.
- Up to $35,000 for home prep — Knock allows you to use up to $35,000 of the total bridge loan for repairs to get your home market-ready.
- Choose your own agent — Unlike competitors such as Orchard, Knock lets you work with your own agent to list your home, which can potentially save you thousands on realtor commissions.
👎 Why Knock might not be your best option:
- 2.25% service fee — Knock charges a 2.25% flat fee based on your home's estimated list price and state-specific closing costs, which is an additional cost on top of standard selling expenses.
- Strict eligibility requirements — Knock has more stringent eligibility requirements than many cash buyer companies and won't accept homes with significant damage or in poor condition.
- Lower backup offer — While most of Knock's customers sell on the open market within 90 days, Knock's backup offer will likely be a lot less than market value if your home doesn't sell within the 180 day window.
- Limited coverage area — Knock is currently available in about half of U.S. states, so many homeowners won't have access to the service.
How does Knock work?
Knock's innovative loan lets your borrow up to $500,000 against your current home’s equity before you sell. That way, you can make a non-contingent offer on a new home — making it far more attractive to home sellers, since your ability to close doesn't depend on selling your old house.
Knock's Bridge Loan can also be used to cover:
- A down payment of up to 30% on a new home
- An interest rate buy-down on your new mortgage
- Up to $35,000 to get your current home ready to list
- Mortgage payments on your current home until it sells
- Closing costs
Knock's loan is interest-free for up to 6 months, giving you time to list and sell your current home. Knock also provides a guaranteed purchase offer in case you don't find a buyer within the 6-month listing period.
Here's how Knock works:
- Apply online. Knock’s two-step evaluation usually takes around four days. If you’re eligible, you’ll be pre-approved for a home loan to cover the cost of your new home.
- Buy a new home. With Knock’s pre-approval, you’ll make a competitive, non-contingent offer on a new home. After you move in, Knock will pay the mortgage on your old home for up to 6 months. Note: Knock will place a lien against your property — so you must repay it in full when your old home sells.
- List and sell your old home. You can list your home for sale after you’ve relocated, so it’s empty and available for showings any time. Knock provides an interest-free loan of up to $35,000 for for pre-listing home improvements, which must be completed within 45 days.
- Settle the bill. Once your home sells, you’ll pay back Knock’s Bridge Loan, overlapping mortgage payments, and fees. The loan amount is interest-free for the first 6 months and can be used toward the program fees.
How much does Knock's guaranteed purchase offer pay?
While Knock provides a guaranteed purchase offer as part of its bridge loan, Knock's aim is to help your sell your home on the open market. The company claims that 92% of its customers sell within 90 days, for an average of 100% or more of the list price.[1]
However, if you don't end up selling on the open market within 6 months, Knock's backup offer is worth about 80% of its estimated market value.[2]. You'll also owe interest on the loan once the 180 days has expired, so it's best to work with an agent that can get your home sold as quickly as possible.
The average time to for a home seller to receive an offer in the United States is 52 days. However, top-rated agents can often sell your house in just a fraction of that time.
"To get a home sold quickly," says Sue LaGree, a RE/MAX agent based in Clearwater, Florida, "use a real estate agent from a large, reputable firm. They have access to thousands of more realtors, web pages, and publicity tools to get the home sold quickly and for the best price."
| ⭐ Home sellers who find their agent through Clever Real Estate get their first qualified offer in an average of just 24.1 days — 38 days faster than the national average. Match with top-rated agents and save thousands on realtor fees through Clever's pre-negotiated rates. |
Knock fees and other costs
| Program fee | Fixed 2.25% |
| Additional closing cost for Bridge Loan | $1,850 |
| Realtor commissions | Negotiable between you and your agent |
Knock's Bridge Loan program comes with a fixed program fee of 2.25% of your property's estimated list price, which it will quote you up front. When you sell, you’ll also pay an extra $1,850 in closing costs — though the exact amount may vary based on your loan amount.
Knock's Bridge Loan will be interest-free for 180 days (or 6 months). You'll settle up with Knock once you receive the proceeds from your home sale.
Unlike competitors such as Orchard, Knock lets you work with your own agent to list your home. So you can potentially save on realtor fees by finding a low commission broker who provides full service for a more competitive commission.
Knock vs. competitors
Knock's main competitors include other buy-before-you-sell services like Orchard and iBuyers like Opendoor and Offerpad.
Like Knock, Orchard offers an equity advance on your current home to cover the down payment on a new one, letting you move in right away while it lists and sells your home. Orchard also provides interest-free funding to make repairs and a guaranteed backup offer if your home doesn’t sell within 120 days.
However, Orchard's fees are structured differently — and you must use Orchard’s in-house team of agents to list your home.
iBuyers like Opendoor and Offerpad offer similarly flexible closing timelines that can help you line up your home sale with a new home purchase. However, you’ll have to navigate the transaction on your own, and you’re very unlikely to earn as much money as you might on the open market. You’ll also have to contend with iBuyers’ pricey fees (often 5% or more) and lack of room for negotiation.
By contrast, Knock allows you to get the maximum profit from your home sale by fronting you up to $35,000 to make upgrades before you sell and letting you work with a real estate agent of your choosing.
Finally, a ‘we buy houses’ company may be a better fit for homes in poor condition or a property you need to sell fast.
Cash offer networks like Clever Offers can help compare offers from multiple sources, potentially getting you a more competitive price for your home.
These highly rated competitors may provide more competitive offers or compelling perks, depending on your situation.
Service Fee
Time to Close
Our take
Details
Eligibility
Clever Offers provides a hassle-free way to find and compare competitive cash offers. When you want the speed and ease of an all-cash sale, they bring you multiple offers from a variety of sources — including iBuyers, small and large-scale investors, and even your local MLS. You can compare offers side-by-side with no added fees or obligation to move forward.
Pros
- One source for multiple competing offers
- Buyers are screened for experience and proven success at closing deals
- Dedicated support to ensure a smooth closing and find you other offers if needed
- Excellent average customer rating
Cons
- Cash offer options may be limited in some areas
Service Fee
Time to Close
Our take
Details
Eligibility
With Homeward, you get the advantages of a cash offer, plus the additional upside of selling on the open market. Homeward can also help you buy before you sell or buy a new home with a competitive cash offer. But you’ll have to pay a program fee of up to 7% on top of the usual home-selling costs.
Pros
- Get cash upfront, then list for additional upside
- Or, make a cash-backed offer on a new house before you sell
- In-house mortgage and title solutions that reduce program fees
- Bring your own real estate agent
Cons
- Program fees added to your realtor commissions and closing costs
- Homeward keeps a significant reserve to cover maintenance and repair costs
- Some sellers express frustration over hidden costs and low final payouts
Service Fee
Time to Close
Our take
Details
Eligibility
Orchard is a decent option if you want to try selling on the open market, but you like the certainty of having a backup cash offer. Its buy-and-sell program lends you the equity from your current home to make an offer on a new one — meaning you don't have to wait for your house to sell to free up the cash for a down payment. The company then helps you list your home on the market and gives you a guaranteed cash offer to fall back on. The downside? Orchard requires you to use their team of agents, which limits your options and tacks on 3% in listing agent fees to your bill, not include buyer's agent fees or closing costs.
Pros
- List on the open market, have a cash offer to fall back on
- Make a more secure, competitive offer when buying
- Avoid paying overlapping mortgages out of pocket
Cons
- Orchard charges a minimum of 4.9% in service and listing agent fees
- Must use in Orchard's agents to list your home
- Additional fees apply if you go over a 120-day listing period
Service Fee
Time to Close
Our take
Details
Eligibility
Opendoor pays much closer to market value than traditional house flippers while still offering the benefit of fast closings and no repairs. For that convenience, you’ll need to contend with stricter purchase criteria, repair deductions, and a variable service fee (formerly 5%).
Pros
- Pays closer to market value than traditional home flippers
- No need to make repairs or prep your home for sale
- Choose your closing date and change it if needed
Cons
- Final offers can be significantly lower than the initial estimates
- Stricter purchase criteria than traditional home flippers
- Repair deductions and service fees can eat into profits
Service Fee
Time to Close
Our take
Details
Eligibility
Offerpad pays more for homes than traditional house-flippers and also offers great perks, including free local moves and flexible closing windows of 8–60 days. However, it has a 5% service fee and customers claim it charges high fees for repairs uncovered during the home inspection.
Pros
- You can close in just eight days
- You can stay in your home for three extra days past your closing date at no charge.
- Sellers get free local moves and a 3-day free extended stay after closing
Cons
- Strict purchase criteria compared to traditional house flippers
- Repair deductions can greatly reduce your final offer
- 5% service fee is on par with realtor commissions
» MORE: Want to find more cash buyers near you? Check out our guide to the best companies that buy houses for cash.
Knock vs. a realtor
Whether you sign with Knock or with a traditional listing agent, you’ll still need to pay real estate commission fees.
By working with Knock, you WILL incur additional fees, but you’ll also get a guaranteed purchase after 6 months — you won’t get that offer from a realtor. The backup offer will be below fair market value, though.
Knock allows you to work with any agent you like and encourages customers to sell on the open market.
So if you want to avoid — or offset — Knock’s additional fees, you can find a real estate agent who specializes in helping homeowners buy and sell at the same time. You can also work with a reputable discount broker to save even more on listing fees without sacrificing service or agent quality.
Knock reviews: What customers have to say
| Source | Average Rating | Review Count |
|---|---|---|
| BBB | 5.0/5 | 7 |
| Trustpilot | 4.7/5 | 193 |
| Zillow | 4.8/5 | 761 |
| Weighted Average: | 4.8/5 | 961 |
Customer reviews for Knock are overwhelmingly positive. The company maintains and average customer rating of 4.78/5 across 961 online reviews.
Customers praise Knock's customer service and communication, as well as the convenience offered by the bridge loan program. Additionally, customers report that Knock’s loans helped them stand out in competitive markets, thanks to the ability to make cash-like, non-contingent offers.
However, a few reviews cite closing delays, as well as inaccurate home valuations.
Here are some of the common themes we see from home sellers.
What customers love about Knock
✅ Convenient, stress-free selling and buying process
Knock strives to provide a transparent, easy-to-use process, so their customers have a stress-free experience.
Reviewers often mentioned the ease and convenience of the Knock program and having a guaranteed purchase if they don’t sell on the open market, which led to peace of mind throughout the process.
As a single mother, I can’t imagine trying to sell my house without having a new one locked down, so the home swap program was essential for me. Having the peace of mind that regardless of what happens, there’s a guaranteed offer on my old house that will cover my loans has truly made the home buying experience less stressful.
✅ Good communication throughout the process
Many customers highlighted the high quality of communication and helpfulness of Knock’s customer service, representatives, and loan officers. People also felt it was easy to contact members of Knock’s team.
We were initially skeptical about the idea of a bridge loan to help us purchase our new home prior to selling the old home. We were very pleasantly surprised by Knock and the person we worked with. She was quick to reply and very knowledgeable and allayed our initial fears. The process was very smooth throughout the transaction, and she was always available to answer our questions.
✅ Responsive, knowledgeable customer service and representatives
Many reviewers spoke highly of Knock’s representatives, loan officers, and customer service. Knock’s team members are frequently described as polite, professional, experienced, and responsive — often going beyond expectations of service.
The Knock team is amazing! Our representative went above and beyond to help secure financing for a new house when the old house didn’t sell in time. The entire process was smooth and the team was great to work with. Highly recommend!
Our loan officer was exceptional in her service and knowledge! She always responded promptly to our questions and was aware of the entire process.
Knock complaints
❌ Confusing paperwork and closing delays
While most reviewers reported how easy Knock’s process is to use, a few reviewers experienced delays due to the complexity of Knock's process.
Knock’s total concept was perfect for us. I knew we could never sell our old home with us still living in it, and we couldn’t afford to pay two mortgages at the same time. However, the overall process was frustrating. The list of documents required was constantly changing. They needed supporting documents for our supporting documents ad infinitum. It ultimately delayed our closing. Our personal loan processor was slow to return phone calls and sometimes never responded. Also, expect to pay for the convenience of the bridge loan — our interest was a good one percentage point higher than traditional mortgage rates.
Is Knock legitimate?
Yes, Knock is a legitimate bridge loan provider, serving home buyers and sellers in 25 states and Washington, DC. The company helps homeowners use their existing home equity to make a competitive offer on a new home before selling their old one.
Knock was started in 2015 by the founders of Trulia and is backed by venture capital investors.
The company has an A+ rating from the Better Business Bureau. It also has 961 reviews on 3rd party review sites like Google and Trustpilot.
What kinds of homes are eligible for Knock's Bridge Loan?
Knock accepts most single-family homes, including townhomes and some condos. However, Knock might deem your home INELIGIBLE if it has:
- Significant water or foundation damage
- Unpermitted additions
- No recent similar sales data in your area
Knock also typically WILL NOT ACCEPT these home types:
- Non-warrantable condos
- Multi-family properties
- Distressed or bank-owned homes
- Manufactured or mobile homes
- Deed-restricted properties
Where is Knock available?
Knock's Bridge Loan is currently available to home sellers in 26 states, including: AL, AZ, CA, CO, FL, GA, IL, IN, KS, KY, MD, MI, MN, NE, NH, NJ, NC, OH, OK, OR, PA, SC, TN, WA, WI, and Washington, DC. However, there are no restrictions on where you can buy your next home.
If you live in one of Knock’s service areas, you can apply for a loan directly at knock.com.
Bottom line: Is the Knock Bridge Loan right for you?
Knock's Bridge Loan is designed specifically for homeowners who are buying and selling at the same time. Knock may be a particularly good solution if you:
- Can’t afford a new home or don’t qualify for financing without selling your existing home first
- Are buying in a competitive market where you need to make a strong offer
- Would benefit from extra funds to fix up your current home before listing
- Want to avoid living in a home during repairs or showings
But while Knock offers some compelling benefits for home sellers, it's not for everyone.
Knock's Bridge Loan comes with a price tag of 2.25% of your home's estimated list price, plus an extra $1,850 in loan costs. That's on top of what you'll already pay in realtor fees and closing costs.
Additionally, Knock's backup offer is intended only as a safety net to cover the remaining mortgage balance if your house doesn't sell — not as a competitive, full market offer. So if you live in a slow market or think your home might not sell in 180 days, you may want to consider whether the risk is worth it.
If you're concerned about the risks and expense of using Knock, ask a trusted local agent for a second opinion. They can set realistic expectations about the market and help you make an informed decision about your next move.
Get a better agent at a better rate. With Clever Real Estate, you get a pre-negotiated commission rate of just 1.5% with top local listing agents from around the country. Answer a few quick questions about your home sale, and get agent matches sent straight to your inbox — no added fees or obligation.
Frequently asked questions
What is Knock?
Knock is a bridge loan provider, also called a buy-before-you-sell service, helping homeowners finance a new home before they sell their current one.
How does Knock Home Swap work?
Formerly called Knock Home Swap, Knock's bridge loan is essentially an equity advance that allows you to move into a new home without having to sell your current home first. The short-term financing can be used to cover a down payment on a new home, as well as moving expenses, closing costs, ongoing mortgage payments, and even minor home improvements to get your current house ready to list. Once your old home sells, you'll pay Knock back out of the proceeds from your home sale.
How much will knock advance a homeowner?
Knock's Bridge Loan is based on a combination of your current home equity, mortgage payoff amount, and the amount needed for purchase your new home.
Recommended reading
About our reviews
Our company reviews are powered by hundreds of hours of research. To evaluate and rank cash home-buying companies, we analyzed thousands of customer reviews, secret-shopped each company, and looked to publicly available data for indicators of offer quality, customer service, fees vs. value provided, trustworthiness, and more. Whenever possible, we also talked to customers, company reps, and industry professionals (such as real estate agents) who've had direct experience working with the brand.