Reali’s cash offer slashes roughly 2% off the listing price
Real estate startup Reali has announced the launch of Reali Trade-In, which combines its mortgage offerings with a home buy-and-sell service into one full-service platform.
The announcement followed the news of its expansion in the homebuying business with Reali Loans after the company acquired digital mortgage platform Lenda in April.
The new Trade-In platform allows potential home buyers to purchase a new home before they sell their current home. First, Reali’s in-house mortgage experts assist customers in the pre-approval process. After that, agents help a seller search for a new home, buy it with cash on the seller’s behalf, and sell their existing home. The seller then moves into their new home while Reali prepares and lists the home for sale. The firm uses the earnings as repayment for the new home with no additional costs.
The all-cash offer lets customers move directly into their new home within a few days and save around 2% off the list price of the home when paying cash, according to Reali.
"With Reali Trade-In, we are simplifying two of the most stressful events in modern life: buying and selling a home," said Reali Chief Executive Officer Amit Haller. "We reworked the process so sellers can conveniently get into the home they want first with our cash while paying a competitive price. Then, we'll sell their existing home for the highest price possible. Reali is the only company that offers a 'buy before you sell' program to sellers without charging additional fees because we believe our customers should benefit the most from their real estate transaction."
