1
2
In a sale of $252,000,
Shawn Davis had
$111,428 in equity.
After selling to EasyKnock,
he retained a portion of his
equity. He received some
cash, and his mortgage was
paid off.
3
EasyKnock then sold his
house to a third party for
$200,000. That’s $52,000
less than the company bought
it for. EasyKnock’s deductions
added up to more than the sale
price, causing Davis to owe money.
$250K
Total mortgage:
$140,572
Mortgage payoff:
$140,572
$200K
Portion to
EasyKnock:
$187,790
$150K
4
Fees, taxes
and rent
prepaid to
EasyKnock:
$13,179
At the beginning of the
transaction, Davis received
$27,688 in cash. But by the end,
he also owed $29,492.
$100K
Equity retained:
$70,560
Equity:
$111,428
$50K
Total sale
costs:
$10,585
Davis received:
$27,688
$0K
Outstanding rent, late
fees and other funds
owed to EasyKnock:
$27,430
Legal fees
for eviction:
$3,688
-$50K
1
2
3
In a sale of $252,000,
Shawn Davis had
$111,428 in equity.
After selling to EasyKnock,
he retained a portion of
his equity. He received
some cash, and his
mortgage was paid off.
EasyKnock then sold his
house to a third party for
$200,000. That’s $52,000
less than the company bought
it for. EasyKnock’s deductions
added up to more than the sale
price, causing Davis to owe money.
$250K
Mortgage
payoff:
$140,572
Total
mortgage:
$140,572
$200K
Portion to
EasyKnock:
$187,790
4
$150K
At the beginning of
the transaction, Davis
received $27,688 in
cash. But by the end,
he also owed $29,492.
Fees, taxes
and rent
prepaid to
EasyKnock:
$13,179
$100K
Equity:
$111,428
Equity
retained:
$70,560
$50K
Total sale
costs:
$10,585
$0K
Outstanding rent,
late fees and
other funds owed
to EasyKnock:
$27,430
Davis
received:
$27,688
-$50K
Legal fees
for eviction:
$3,688
In a sale of $252,000, Shawn Davis had
$111,428 in equity.
1
$50K
$250K
$100K
$150K
$200K
-$50K
$0K
Total
mortgage:
$140,572
Equity:
$111,428
After selling to EasyKnock, he retained
a portion of his equity. He received some
cash, and his mortgage was paid off.
2
Mortgage
payoff:
$140,572
Equity
retained:
$70,560
Davis
received:
$27,688
Fees, taxes and rent
prepaid to EasyKnock: $13,179
EasyKnock then sold his house to a third
party for $200,000. That’s $52,000 less
than the company bought it for.
EasyKnock’s deductions added up to
more than the sale price, causing Davis
to owe money.
3
Portion to
EasyKnock:
$187,790
Legal
fees
for
eviction:
$3,688
Total sale costs: $10,585
Outstanding rent, late fees and
other funds owed to EasyKnock:
$27,430
At the beginning of the
transaction, Davis received
$27,688 in cash. But by the
end, he also owed $29,492.
4