California startup Reali is continuing its rapid expansion with the launch of its home trade-in program.
"Earlier this year, Reali launched a mortgage business, dubbed Reali Loans, by acquiring Lenda, an online mortgage lender that launched in 2013 and currently operates in 12 states," according to HousingWire.
"The company has also raised nearly $40 million in several funding rounds over the last several years, including a $9 million raise earlier this year, a $20 million raise last year, and a nearly $10 million raise in 2017."
The company has launched a service that allows homeowners to sell their home and purchase a new one simultaneously. Reali will purchase the homeowners new home with its own funds, the seller then moves into their new home and Reali prepares the old home for listing.
"According to the company, it charges 5% of the transaction amount for the service, which includes a license real estate agent, a five-day close and a property inspection, as well as the prep and staging on the existing home," according to the report.
To learn more about Reali and how it works, click on the image above.