Knock's home buying services are designed specifically for current homeowners looking to exchange their current home for a new one.
When you qualify for the Knock Bridge Loan (formerly called Knock Home Swap), Knock will front you a portion of your home equity to buy a new house before you sell.
The funding is interest free for up to 6 months, and Knock guarantees a backup offer in case your home doesn’t sell within that time. Knock's Bridge Loan also provides up to $35,000 to help you make minor repairs and get your current home ready to list.
Rather than charging fees upfront, Knock deducts its expenses after your house sells. According to Knock, 92% of customers sell their home on the market in less than 90 days for full asking price or above.[1]
Online reviews for Knock are largely positive. Reviewers report a convenient process and excellent customer service from knowledgeable, professional employees.
Bridge loans are a great option for people who want to sell and buy at the same time, but if you're looking to maximize your profits and ensure you get top dollar for you home, we recommend Clever Offers. With Clever Offers, you'll receive multiple cash offers from trustworthy home buyers.
Simply fill out this form to receive instant offers and sell your home in 7 days or less!
Our Knock rating
| ⭐️ Knock: Overall score | 4.4/5 🟢 |
|---|---|
| Service quality | 4.5/5 🟢 |
| Offer quality | 4.5/5 🟢 |
| Fees and other costs | 4.25/5 🟡 |
| Customer reviews | 4.5/5 🟢 |
| Credibility | 4.5/5 🟢 |
Is Knock worth it?
Pros
- Use your home equity to make a competitive offer on a new house before selling
- List your home on the open market with your realtor of choice
- Guaranteed backup offer if your home doesn’t sell in 6 months
Cons
- Access to home equity is capped at $500k
- Homes in poor condition or being sold as is may not qualify
- Backup offer will be below full market value
Knock's Bridge Loan is definitely worth considering if:
- You can’t afford a down payment on a new home without selling your current one.
- You could benefit from extra funds to fix up your home before listing.
- You’re buying in a hot market, where it’s critical to make the strongest possible offer.
- You want to avoid the hassles of living in a home that's undergoing repairs or being toured by prospective buyers.
With Knock, you can unlock the cash for a down payment without having to sell your old house first — and avoid having move twice or perfectly line up your closing dates.
Unlike an iBuyer or investor that purchases your home at a discount, you're encouraged to list your home on the open market for the highest possible price. You can also use a portion of Knock's Bridge Loan to prep your home for sale.
However, Knock isn’t for everyone. While convenient, Knock’s service fees can add up. If you have enough money saved to cover expenses while buying and selling, then working with a realtor can be more cost-effective — especially if you choose a broker that offers better-than-average commission rates.
Additionally, Knock operates in limited service areas and has restrictions on the types of homes it will lend on, so certain condos and homes that need a lot of work may not qualify. You'll also need to go through a formal approval process to qualify for Knock's loan.
If you'd prefer to sell your house as is, or are simply looking for a cash offer to help you move right away, you may want to look into another company that buys houses for cash.
Get competing offers from leading cash buyers in your area. Plus, get a professional opinion of your home's fair market value. Clever Offers is free to home sellers, and there's no obligation to accept an offer. Simply tell us about your property, and we'll do everything we can to get you the best possible price for your home.
Get Cash OffersTop Knock alternatives
Orchard | iBuyers | Cash offer networks | Traditional realtor listings
Knock vs. competitors
Knock isn’t the only home trade-in service on the market. Orchard offers similar buy-before-you-sell services. And iBuyers like Opendoor and Offerpad have also launched similar trade-in services to supplement their cash-offer services.
Cash offer marketplaces, like Sundae and Clever Offers, let you compare offers from a variety of cash buyers.
Here are some of the top Knock competitors to consider.
Customer Rating
Service Fee
Time to Close
Why We chose it
Pros and cons
Specifics
Clever Offers helps you find and compare offers from leading cash buyers in your area — all with a proven track record of ethical dealings with home sellers.
Because Clever's network includes local/national investors, iBuyers, and agents with experience listing homes as is, you get a range of offers to choose from — including alternative deal types that deliver a higher payout over time.
The 5-star rated company gets top marks for helping you make an informed decision without pressuring you to move forward. See our full Clever Offers review.
Customer Rating
Service Fee
Time to Close
Why we chose it
Pros and cons
Specifics
Orchard is a solid option if you want to try selling on the open market, but you like the certainty of having a backup cash offer.
Its trade-in service lets you borrow the equity in your current home to make a non-contigent offer on a new one, meaning you don't have to wait for your house to sell to free up funds for a down payment and closing costs.
The downside? Orchard's fees start at 8% of the sale price. And if your house doesn’t sell on the open market, Orchard’s backup offer will be less than your house is worth. See our full Orchard review.
Customer Rating
Service Fee
Time to Close
Why we chose it
Pros and cons
Specifics
Opendoor is for home sellers who want to skip the hassles of a traditional home sale — without sacrificing too much on price.
You can get an initial offer within 24–48 hours, choose your closing date, and skip repairs and showings. The company also pays much closer to market value than traditional house flippers.
Opendoor does charge a 5% service fee, and some customers complain that final offers are lower than initial estimates. See our full Opendoor review.
Customer Rating
Service Fee
Time to Close
Why we chose it
Pros and cons
Specifics
As an iBuyer, Offerpad stands out for its perks, including free local moves and a 3-day grace period to wrap up your move after closing.
You can choose between listing with an agent and getting a cash advance for home prep/repairs or taking a competitive cash offer with flexible closing dates, ranging from 8–90 days.
If you accept a cash offer, be prepared for relatively high repair costs — which customers report can substantially reduce your final offer. See our full Offerpad review.
» MORE: Looking for more cash buyers near you? Check out our comprehensive guide to the best companies that buy houses for cash
Knock vs. Orchard
Orchard could be an alternative in areas where Knock doesn’t operate — specifically across CO, GA, MD, NC, TX, VA.
Like Knock, Orchard offers an equity advance on your current home to cover the down payment on a new one. Orchard also provides interest-free funding to make repairs and a guaranteed backup offer if your home doesn't sell within 4 months (versus 6 months with Knock).
While Orchard allows you to choose your own lender, it requires you to work with its team of agents and transaction coordinators. It also charges 6% brokerage fee on top of a 2.4% loan fee for its equity advance.
Knock vs. iBuyers
By positioning itself as a lender, Knock distanced itself from iBuyers — companies that use technology and in-house real estate expertise to make cash offers on homes.
There are two key differences between Knock and iBuyers:
- Offer price on your old home
- Speed
Knock customers work with real estate agents to sell their homes on the open market. This allows you to potentially receive more than your asking price — or at least a competitive offer.
By contrast, iBuyers typically offer fair market value AT MOST. You won’t have much room to negotiate.
On the flip side, iBuyers can move much faster than Knock. For example, Opendoor can provide an initial cash offer within 24–48 hours, and you can close on your home in as little as 14 days. However, it won't be as much as you could get on the open market.
Like Knock, iBuyers operate in limited markets and often don’t buy homes that need a lot of work or have financial complications like liens attached.
Like Knock, iBuyers operate in limited markets and often don’t buy homes that need a lot of work or have financial complications like liens attached.
Knock vs. Cash offer networks
Cash offer networks like Clever Offers let you compare offers from a variety of sources — ranging from iBuyers and local investors to a traditional MLS listing — allowing you to get the most competitive price for your house.
These networks also operate in more markets than either trade-in services or iBuyers, and there tend to be fewer restrictions on your home’s type and condition. So if Knock doesn’t fit your needs, a service like Clever Offers can quickly help your find the best alternative.
Knock vs. traditional realtor listing
Knock stands out from competitors by allowing you to work with any agent you like and encouraging you to sell on the open market. One major advantage of Knock is that it will buy your home if it doesn’t sell after 6 months — which is a guarantee you won’t get from a realtor. But Knock's guaranteed offer will be below fair market value, possibly lower than what an iBuyer like Opendoor would pay, too.
Whether you sign with Knock or use a traditional listing agent, you’ll need to pay the typical real estate commission. However, working with Knock will incur additional fees.
Finding a real estate agent who specializes in helping homeowners buy and sell at the same time may be a better alternative. Many real estate brokerages — even discount brokers — also offer interest-free home improvement advances similar to Knock's to help you prep your house before listing.
If you're on the fence about selling to a company like Knock, we recommend talking to a few different real estate agents to see if they can offer you a better deal.
⚡ Compare the top realtors in your zip code. Save 50% on listing fees.
In-depth Knock review
Service quality
📊 Our rating: 4.5/5
|
Knock stands out from other home trade-in companies by allowing customers to use their own real estate agent and lenders, which can bring assurance that you’re using someone familiar with your local market.
“The Home Swap program allowed us to move before selling our old home, use our realtor, and without getting shortchanged on the selling price of our home.”
— dreedvol14, May 2023, Zillow[2]
Additionally, most reviewers emphasized how helpful the Knock team was during the home selling and buying process.
“The Knock team went above and beyond to help secure financing for a new home, when the old home hadn’t sold yet. They were responsive, friendly, helpful, and just generally did everything possible to help a stressful situation.”
— athena marie 303, May 2024, Zillow[2]
Most reviewers described the overall process as easy and convenient, though some also pointed out that this convenience has trade-offs.
“The process was easier than we expected it to be. The ability to purchase a new home while still living in our old home is amazing. ... It costs a little extra, but the headache of trying to coordinate buying and selling at the same time is gone.”— codytgraham, February 2023, Zllow[2]
Offer quality
📊 Our rating: 4.5/5
|
Rather than purchasing your home directly like an iBuyer would do, Knock fronts you a large percentage of your home equity to secure a new home before you list your old one for sale. This model gives you the opportunity to both make a competitive offer on a new house and also sell your current home on the open marketat — or above — its fair market value.
Up to $35,000 of Knock’s bridge loan can be used to get your home ready to list. Knock also guarantees a backup offer in case the property doesn't sell within 6 months.
However, Knock has restrictions on what type of home they will buy, so not all properties will be eligible. If your home’s condition is less than ideal, you may need to sell to an investor or work with realtor who can help you sell your house as is.
How much is Knock's backup offer?
Knock will buy your home for about 80% of its fair market value if it doesn’t sell in 6 months. But you’ll need to verify the exact guaranteed purchase price with the company because factors like location, local market conditions, and more may influence the guaranteed price.
Knock does provide a guaranteed offer price early in the process, so you will know what to expect before proceeding too far into Knock’s process. However, Knock claims that 92% of customers sell their home on the market for full asking price or more within 90 days.
Fees and other costs
📊 Our rating: 4.25/5
|
Knock is upfront about its fixed 2.25% program fee. Additionally, Knock estimates you’ll pay an extra closing cost of $1,850 for the bridge loan. You'll pay these fees out of the proceeds from the sale of your current home.
Keep in mind that you may have other expenses — such as realtor fees, moving expenses, and pre-listing repairs.
You can use the bridge loan to cover costs like your down payment, closing costs, mortgage payments on your original property, minor renovations, and more. But you’ll need Knock to approve what you can and can’t use your bridge loan for.
Additionally, while Knock's funding is interest free for 6 months, you'll could be on the hook for additional fees and interest if your home takes longer to sell.
Knock fees
| Service fee | Fixed 2.25% |
| Closing costs for the bridge loan | Estimated $1,850 |
| Additional closing costs | Variable. Knock doesn’t report any additional fees, but you'll pay standard closing costs on your home sale and purchase. If expenses exceed your loan amount, you’ll need to generate that money yourself. |
| Realtor fees | 5–6% |
| Total | 7.25–8.25% + closing costs |
Customer reviews
📊 Our rating: 4.5/5
|
Knock reviews are mostly positive. The company has an average customer rating of 4.8/5 from 879 online reviews across Better Business Bureau[3], Trustpilot[4], and Zillow[2].
Most positive reviews highlighted the ease and convenience of the service, along with the peace of mind of a purchase guarantee. Additionally, most online reviewers enjoyed working with the agents and team members, who were typically described as professional, patient, and knowledgeable.
Negative reviews typically focused on confusion or dissatisfaction with Knock Lending or parts of the process that led to delays or missed selling opportunities.
✅ Less stressful selling and buying process
Many positive reviews mentioned appreciating the ease and convenience of the Knock program as well as how it made the buying and selling process less stressful.
For instance, Veronica C. wrote:
“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.”[2]
For Jill N., who was selling in one state and moving to another, working with Knock helped reduce her confusion and created a smooth experience:
“Knock made it so much easier for us to accomplish this move! As customers who are not high income people with a million bucks in savings, it allowed us to make our out-of-state move to a retirement home so much easier and without having to pay cash upfront for the new home.”[2]
✅ High-quality customer service and communication
Many reviewers spoke extremely highly of Knock’s customer service, agents, and loan officers. They reported everyone being polite, helpful, and responsive. People felt they were getting quality information and it was easy to contact their agents and other team members.
For instance, Christine W. noted that the person she worked with was “quick to reply and very knowledgeable and allayed our initial fears. She was always available to answer our questions.”[2]
❌ Closing delays
Some reviewers expressed some confusion during parts of the process or with Knock Lending. In some cases, this led to delays in closings.
For instance, this home seller reported liking Knock’s concept but found the overall process “frustrating. The list of documents required was constantly changing. It ultimately delayed our closing.”[2]
❌ Inaccurate home valuations
Not all reviewers were happy with Knock’s home valuation.
For instance, Radeberger U. wrote that Knock placed the value of his home at $370,000. As a result, he decided to buy a house for $465,000, which he did through Knock.[5]
However, when selling his home, his realtor’s appraisal came in at $340,000 — lower than Knock. He did get an offer for $370,000, but the buyer’s FHA bank appraisal came back with a low $325,000.
As a result, “the FHA appraisal stopped the opportunity for selling the house to any FHA buyer for the next 6 months. … It took us 6 months to sell the house to a final price of $345,000 with a loss of $25,000.”
Credibility
📊 Our rating: 4.5/5
|
Knock is a legitimate company that was started in 2015 by the founders of Trulia. Knock has built a dedicated team with industry experience, and strives to provide a simplified and convenient way for homeowners to buy and sell efficiently on the open market.
Knock is incredibly transparent about its program fees and other potential selling costs — it also provides customers with an estimated bridge loan amount and guaranteed purchase offer early on in the process, before you sign a contract.
Knock isn't currently accredited by the Better Business Bureau, but has zero complaints in the past three years. It also has more than 800 verified customer reviews, with a higher-than-average customer rating of 4.8/5.
How does Knock work?
Knock's Bridge Loan can help you make a more competitive, non-contingent offer on a new home, while avoiding the financial burden of paying two mortgages during a simultaneous home sale and purchase.
Through Knock, you get access to a 6-month, interest-free bridge loan of up to $500,000 of the equity in your current home. The amount of your bridge loan is based on the value of your home, current mortgage balance, and what you need to buy your new home.
The bridge loan can be used to cover several items:
- Down payment (up to 30%) on a new home
- Up to 6 months of mortgage payments on your old home
- Up to $35,000 in funds toward repairs or improvements to your old home
- Moving expenses
- Knock’s fees
Applying for the Knock Bridge Loan program is free, and you’re under no obligation to move forward. If you use Knock, you will be charged a flat 2.25% fee based on your home’s estimated list price, plus closing costs of about $1,850 for the bridge loan. These are on top of the usual realtor fees and closing costs when selling a house.
Additionally, Knock will hold your home as collateral until it sells. A lien will be placed against your property until you pay the loan back in full from your home sale.
How to sell your home with the Knock Bridge Loan:
- Submit your information to get pre-approved. You’ll typically receive an estimate of the loan amount within 48 hours.
- If you sign with Knock, you’ll receive the agreed-on bridge loan and won’t be charged any interest for 6 months.
- Use your bridge loan to cover the mortgage payments of your original home, repairs, moving expenses, and more. You can also close on a new home. Knock will work with your lender and agent as needed.
- If your old home hasn’t sold after 6 months, you can sell it to Knock for the agreed guaranteed purchase price — usually 80% of the market value.
What types of homes are eligible for Knock?
Knock accepts most single-family homes, including townhomes and some condos. But it has more stringent eligibility requirements than many cash buyer companies. Cash buyers are more likely to accept homes selling as is, properties in poor condition, or work with homeowners in financial distress.
Knock might deem your home ineligible if you have:
- Significant water or foundation damage
- A distressed or bank-owned home
- Unpermitted additions
- A non-warrantable condo
- A manufactured home, mobile home, or multi-family property
- A deed restricted property
- A home that lacks recent similar sales data in your area
In these situations, we recommend working with an experienced real estate agent who can showcase your home to the right buyers in your area.
Knock locations
Knock currently serves customers in 75 markets across 20 states: AL, AZ, CA, CO, FL, GA, IL, KY, MD, MI, MN, NJ, NC, OH, OR, PA, SC, TN, WA, WI, plus Washington, DC.
Frequently asked questions
Is Knock.com legit?
Yes, Knock is a legitimate business that offers loans to home buyers and sellers. Knock's Bridge Loan lets you make a competitive, cash-like offer on a new home before selling your old one. However, you'll still have to hire your own real estate agent. Compare low commission real estate companies to save thousands on your next sale.
How does Knock.com work?
Knock follows the same pre-approval process you'd use to secure a traditional mortgage. The key difference is that you can make a non-contingent offer on your new home BEFORE selling your old one. You can move right away, and Knock will cover your mortgage until you find a buyer. At the end, you'll settle your bill with the proceeds from your home sale. Learn more about how Knock works.
How does Knock.com make money?
Knock earns money through its 2.25% service fee (replacing the typical loan origination fee) and by selling loans in the secondary mortgage market (a standard practice among lenders). Learn more about how Knock works.
What is a Knock-certified agent?
Knock-certified agents are independent real estate agents who are familiar with Knock's service offerings and can guide their clients through the bridge loan process. They may also receive referrals through Knock. Agents participate in a brief training and take a test to become certified. Learn more about how Knock works.
Methodology
We evaluate each company that buys houses for cash based on four core criteria and create a weighted score:
- Service quality (20% of final score)
- Offer quality (20% of final score)
- Fees and other costs (20% of final score)
- Customer reviews (20% of final score)
- Credibility (20% of final score)
Service quality
Customer experience. We rely on secret shopping and fact-checking interviews with company representatives to look for indicators that the company is professional, communicative, customer-focused, and ethical in its dealings with customers. We verify this information against customer reviews and interviews with past customers or professionals (realtors, former employees) who have had direct experience working with the brand.
Offer quality
Price. While nearly all cash buyers pay less than market value for homes, we look at how competitive the company's offers are compared to similar companies.
Purchase criteria. We also look at the company's purchase criteria to see how flexible and accommodating they are in making offers. Companies that offer a fair price for homes that other buyers won't purchase can still get a high rating for offer quality.
Fees and other costs
Competitiveness. We look at how the company's fees and other costs compare to competitors.
Value. We consider whether the fees are justified by the value offered.
Customer experience
Review analysis. We perform an in-depth analysis of all the available customer reviews to determine trends. We break down the reviews by theme and sentiment, and filter out spam reviews to determine our rating.
Company responsiveness. Negative reviews are part of doing business; however, we take note of whether a company is actively involved in resolving customer complaints.
Credibility
Trust signals. We look at how long the company has been in business, the number of verified customer reviews it has, how willing the company was to answer questions about their business model when we contacted them, and how easy it is to find detailed information on their website — including the names and contact details of specific team members. We also look at customer reviews indicating whether the company acts with honesty and integrity in their business dealings.
