Rent Leaseback Partnership Makes Building a Dream Home Easier than Ever.
LotNova Partners With EasyKnock To Eliminate Double Move, Double Mortgage for Homebuyers
May 4, 2021
Chicago, IL – Startup homebuilding platform LotNova announced that they have become the first residential single family homebuilder to partner with EasyKnock, offering homebuyers a seamless solution to sell their current home, lease it back during construction, and move when their new home is complete.
EasyKnock is the first technology-enabled residential sale-leaseback company that helps homeowners sell their home without moving. Their MoveAbility program helps homeowners planning on moving in the near-term realize the value of their home immediately. Customized sale-leaseback programs are available for single-family homes, townhomes, and condominiums.
“We’re relentlessly focused on making the process of buying a new construction home painless for homebuyers,” said David Munaretto, CEO of LotNova. “Our partnership with EasyKnock gives families that are building a home with us a new way to release the equity in their existing home while keeping their kids in the same schools and not moving multiple times.”
Through the partnership, homebuyers and their real estate agents can request a no obligation offer from EasyKnock. If accepted, EasyKnock buys the home, pays off the mortgage, and pays the seller a portion of the equity (typically 75%). The seller then pays rent to EasyKnock while their new home is under construction. Afterwards, the home is sold and remaining equity paid to the seller. The seller and their real estate agent are involved and retain control throughout the process.
The LotNova platform is a unique experience for potential homebuyers and for real estate agents. The system allows homebuyers to choose from a variety of different home plans, find active real estate listings where the plan can be built, and purchase the home and the lot at a package price.
“We wanted to give customers an option to stay in their existing homes – or perhaps the right way to say it is stay in their existing lives – while we built their new home. Our criteria were pretty simple. We wanted a strategic business partner who wasn’t looking to make money by purchasing homes at a discount, used market based rental rates, gave our customers flexibility and control, and at the same time protected the interests of a real estate agent who might be working with the homebuyer. EasyKnock checked off all of those boxes and more.”
About EasyKnock
Founded in 2016, EasyKnock is the first technology-enabled residential sale-leaseback company that helps homeowners sell their home without moving and realize their financial goals. To learn more about EasyKnock and its Partner programs, visit easyknock.com.
About LotNova
LotNova is a new construction sales platform that helps buyers choose their dream home and build it in the perfect location. We’re the world’s first matching engine between home plans and active real estate listings. LotNova is changing the homebuilding industry by making it easier than ever to build the home of your dreams, in the community of your choice.
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