KnockReviews of knock.com

So like many looking to purchase a new home but not able to afford(or be approved) for 2 mortgages at the same time,I did a little digging and found this company Knock,home of the home swap program. After reviewing the process ,thought it was a fantastic alternative to selling first,and then having to rent short term and move twice. After applying they reached out ,I was approved, and assigned a loan advisor.This is the point we're it all went downhill ,and probably should picked up on just how they treat their clients by the complete lack of communication or guidance ,in what is a complicated and unusual process compared to the standard purchase loan process. The first loan advisor ghosted me after the intial contact. Neither me or my Realtor could get ahold of her by any means of while attempting to put in offers in this extremely competitive market. We we're in need of an official pre-approval letter and even though I was approved ,it took 2 weeks to receive one. Communication,other than an occasional email replied to 6-7 days after we had sent it,was non existent.Having had enough of calling the corporate headquarters ,complaining and getting them to force her to respond,I demanded a new loan officer. They obliged,and the second loan advisor was far better at communication. They require a 45 closing window ,and immediately began fulfilling their document and invoice request,which I was told were satisfactory and feel free to put in offers. So we got lucky had our offer accepted and went under contract shortly after and was told that I'm not fully approved yet... after submitting the earnest money and paying for the inspections and appraisal ( knock requires you pay that upfront out of pocket). Again lack of communication both with me, and what seemed to be between departments, the loan officer team and underwriting team made this an absolute circus that left me jumping through hoops sending requested documents to multiple departments ,duplicate and absurd requests. As we had a gift fund from family I was asked to have them fill out a standard signed form stating as much early in the process. They said that's ALL that would be needed. After multiple inquiries as to what ALL needed docs and tasks on my end I would be responsible for,I would get a vague reply .A week later UW requested copies of my bank statements showing said gift deposited...ok I said,anything else? Nope they said. A few days later ,they requested a copy of the check. Having asked them if they needed that 2 weeks prior ,I shredded it. So they asked for me to obtain copies of my family members financial records and hand it over to them! I refused and they settled for the info they intially asked for. This is just 1 of countless of documents or tasks that they missed ,lost or showed complete incompetence and organization. 2 other separate instances of dropping the ball,not looking ahead and communicating internally led to 2 push-backs of our closing date,which cost our family money,unneeded extra stress and time wasted. If they were just slow , incompetent and uncaring ,like most companies ,I could forgive that.Deceitful business practices and employees that lie to your face constantly is quite another category altogether. Upon setting up my closing ,I was given the option to put down less than I originally intended. This seemed advantageous for 2 reasons. 1) Since we hasn't closed on the sale of our existing home ,some extra cash for moving and the unexpected seemed reassuring. However, this was only an option for me because I was told Knock allows you to recast your loan terms after the sale of your home and 60 days has passed.2) I would be able to take our profit from that sale and apply it the principal and get my monthly payment and equity to a comfortable range...seemed like a great plan from Knock. I asked ,hey what happens if you guys sell my loan before the 60 days ,as recasting is crucial to my lower DP decision, and a monthly payment that is comfortable for our family, so if that could happen please tell me and we can readjust the numbers so I won't be put in a bad situation financially. I was told that never happens and they would not be selling my loan before I could recast ...7 days later I received a notice from another bank welcoming me as a client since they had just purchased my loan form Knock! I am now unable to adjust my loan numbers and forced to re-finance, costing me untold stress and money, which could have been completely avoided if they hadn't lied to my face. I was taken advantage of by this company ,and don't want to see anyone else in my situation or having to deal with thIs level of incompetence and deceit. Look for alternatives, or sell first,rent then buy,despite the perceived convenience, it is anything but. I have never had a worse experience .

The worst experience i've ever had in my life. We almost ended up homeless. We decided earlier in the year to sell our apartment and upgrade as we had equity. We decided to try Knock as the concept of buying without a downpayment was appealing. I have excellent credit and a stable well paying job, these were not part of the issue. Our original closing date was supposed to be June 29th. Knock Lending waited until the day before closing to request the documents needed. They ran my credit over 3 different times, with the same excuse: "im sorry, unfortunately we lost your information and need your permission to run your credit again." They did not seem to understand simple legal documents, as they insisted to me multiple times that i owned my grandmother's house, which the deed clearly stated i was not the owner. They were untruthful and blatantly lied to us regarding how the home swap process works. For example, when our appraisal came back low they said it was not a problem. We later found out with our new lender that this was in fact a problem. Knock Lending had access to the condominum association budget since early in the process and they were unable to notify us of the fact that reserves were low and we would have to give a 25% downpayment. They kept insisting, everything is fine, and yet closing date was delayed 3 times with no update. We almost had the contract cancelled by the seller due to not meeting our closing date 3 times. The last straw was when our title company's lawyer reached out to us to warn us that knock was attempting to put a lien on the property we were selling, which would have meant us losing our cash buyer. At the end, we ended up switching to a local lender and we were able to close in 20 days with a 10% downpayment. In summary, please avoid knock, they are untruthful and disorganized, and you may lose your home as well as the future property you are contemplating buying.

my fiancé and I were very excited to work with knock. initially the agents made it seem as though this new and innovative way of selling/buying our home was going to be less stressful than the traditional route and they made it sound as though they were eager to help us sell our home. unfortunately that was not what we experienced. this was a very long & drawn out process that ended up being VERY expensive & stressful. we could not wait for this to be over. When we thought it was over, the night before we were going to close on our house a knock rep. called us around 8 pm to inform us they made some errors on the finally paper work and left out fees they should have been incorporated in the final cost which could possibly result in us having to pay a $60 per day if the process to correct the error took longer than 72 hrs. knock never apologized or expressed remorse for their unprofessionalism and lack of diligence not only for this instance but through out the entire processes. we ended up paying the fees upfront the day of close out of desperation for it to all be over with.. if this review stops a person or family from going through this awful experience than our goal has been accomplished.