AGENT, MORTGAGE AND LENDING
Knock | January 25, 2023
Knock, an innovative fintech company, announced on January 24, 2023, that agents and consumers would no longer have to choose between working with their local or national lenders.
The company informed that any lender or agent can now add a no-interest equity advance loan from Knock to almost any conventional or jumbo mortgage to increase the benefits of Knock Home SwapTM. In addition, homeowners can win their desired property and move on their timeline by matching Knock Home Swap Equity Advance with a purchase mortgage.
Knock Co-Founder and CEO Sean Black stated, "Since 2015, our mission has been to empower people to move freely, and we have continued to raise the bar when it comes to making the process of buying and selling homes simple, certain and cost-effective."
"Many companies offer home loans, but no one else offers the Home Swap. By partnering with lenders, we are making it easier for consumers to get the benefits of leveraging the equity in their current house to buy their dream home without any of the hassles that typically come with buying and selling, including the ability to avoid moving twice and living through repairs and showings," he added.
(Source – Cision PR Newswire)
Before putting their current house on the market, a homeowner can use Knock Home Swap Equity Advance to make a firm offer, negotiate, and close quickly on the home they want.
Knock Home Swap Equity Advance loan can also be used to make up to a 30% down payment, buy down the mortgage rate, cover closing expenses, cover up to $35,000 in home preparation costs to sell the old house for top cash, and pay up to six months of mortgage payments on the previous house. Besides, Knock's Home Prep & Marketability Allowance gives access to its approved contractor network and pays all bills out of homeowners' equity.
Knock was started in 2015 by founding team members of Trulia.com. Since then, it has raised more than $600 million in debt and equity from top investors. National Association of Realtors® is a strategic investor in Knock through its investment arm, Second Century Ventures. This means that Knock's homeownership solutions can be sold to its clients by its 1.5 million members. The company currently operates 72 markets across the country but wishes to expand to 100 by 2023.
REAL ESTATE TECHNOLOGY, HOME AND DESIGN
Curbio | February 28, 2023
One of the leading pay-at-closing home improvement solutions provider for the real estate industry, Curbio, Inc., recently announced the release of its new mobile app. The new app enables real estate agents and sellers to get instant estimates for pre-listing home improvement costs and projected ROI allowing them to unlock the actual value of their home with smart, ROI-driven updates.
Curbio's new mobile app is among the pioneers in the home improvement industry, providing convenience, speed, and pricing transparency. At the click of a button, realtors and homeowners can obtain immediate cost and ROI estimates for repairs, updates and renovations. In addition, Curbio's users can either start immediate work with the platform or use this information to make an informed decision regarding pre-listing and pre-sale home improvements.
Curbio's newly launched mobile app offers a user-friendly solution for real estate agents and sellers seeking pre-listing home improvement cost estimates and projected ROI. After entering property details, users can select from a range of home improvement projects, with estimated costs and ROI projections provided for each. This information can be used to request a project proposal from Curbio, with zero fees or interest required for payment at closing. The app aims to help users maximize their property value with smart, ROI-driven updates. The app's cost and return on investment information are based on Curbio's extensive project portfolio. Information is tailored to the specific market, project scope, and project type.
The Curbio mobile app also offers estimates for inspection-related repairs. Agents and their clients can now upload inspection reports directly to the app, and Curbio will provide a same-day, no-obligation estimate of the necessary repairs.
Founded in 2017, Curbio is a company that offers real estate agents and homeowners deliver hassle-free home improvement experiences. The company has rapidly become the largest national provider of pre-listing repairs, updates, and renovations. It has also helped modernize home improvements within a user-friendly app, boost project timeliness by 50% and remove delays and uncertainties restricting home improvement in the past. Based in Potomac (Maryland), Curbio is trusted by over 800 brokerages nationwide.
MARKET OUTLOOK,REAL ESTATE INVESTMENT
Origin Investments and Kovitz | January 09, 2023
Focus Financial Partners Inc., a leading partnership of independent, fiduciary wealth management firms, recently announced that it entered into a definitive agreement enabling Origin Holding Company, LLC, a Chicago, IL-based private real estate fund manager, to join forces with Focus partner firm Kovitz Investment Group Partners, LLC.
The firm will continue to provide its real estate funds under the Origin brand while retaining its leadership and investment team. The deal is anticipated to conclude in the first quarter of 2023, subject to the fulfillment of customary closing conditions.
Origin is a prominent manager of private real estate funds specializing in multifamily residential assets. The company manages multifamily property funds to provide investors with tax-efficient income, capital appreciation, and portfolio diversification. Its funds have more than 3,000 individual investors, many of whom were referred by other high-net-worth organizations. Its performance places them in the top decile of 2022's best private real estate fund managers, according to Preqin, an alternative investing data provider.
This strategic transaction will significantly expand the footprint and scale of Kovitz's private real estate fund solutions for clients, building on the company's long history of real estate investing success. Through this agreement, Kovitz will make its operational capabilities and wealth management know-how available to Origin and its investors.
Meanwhile, Berkshire Global Advisors served as Origin's primary financial advisor in this transaction.
David Scherer, Co-CEO of Origin, concluded, "In evaluating strategic partners, our objectives were to preserve and promote the continuity of our well-established brand while also gaining access to additional resources to help us better serve our funds' investors and grow our business."
About Origin Investments
Origin Investments provides best-in-class real estate solutions to HNWIs, family offices, and RIAs. It manages multifamily real estate developments in fast-growing U.S. markets. Since 2007, the company has accomplished $2.5 billion in real estate transactions, while its principals have invested $60 million. Alternative investment data source Preqin says that the company's performance is in the top 10% of the world's best private real estate fund managers.
Kovitz Investment Group Partners, LLC (Kovitz) is an SEC-registered investment adviser that serves individual and institutional customers. It connects HNWIs, institutions, and financial professionals to asset management and advising methods. It offers long-term investing options backed by rigorous research. The organization approaches financial planning and wealth management as active activities, helping clients make the right decisions.