eXp Luxury, the upscale division of real estate brokerage eXp Realty, is teaming with MORE Seller Financing to give luxury home sellers new tools to attract buyers and improve listing performance in a high interest rate environment.
The partnership, announced this week, will give eXp Luxury agents access to the MORE Seller Bridge Loan Program — a short-term seller financing option that lets sellers convert their existing low-rate mortgages into income after selling their home.
“Luxury sellers are looking for every advantage to sell faster and maintain a higher sales price, especially in today’s rate-sensitive environment,” said Ryan Leahy, founder of MORE Seller Financing.
“Partnering with eXp Luxury allows us to offer our turnkey, compliant, and seller-controlled financing program to a wider network of top-tier real estate professionals and their clients.”
The program provides seller-financed loans to buyers at interest rates below the current market average, typically for terms of three years or less.
These rates — as low as 3.99% — can make listings more competitive without requiring sellers to lower the asking price, MORE explained.
In addition to making properties more affordable for buyers, the arrangement can generate ongoing income for sellers from their original mortgages, which are often at lower rates than what new buyers can currently obtain.
As part of the collaboration, eXp Luxury agents will be able to offer clients marketing materials that highlight available seller financing and attorney-reviewed financing agreements. They can also obtain support from licensed mortgage servicing companies that handle monthly payments, property taxes and year-end tax documents.
First Time Home Buyer FAQs - Via HousingWire.com
