skip to Main Content
MSJ NEWS see latest news

In Hot Housing Market, Startup Helps Buyers Stay Competitive by Enabling All-Cash Offers

  • Real estate startup Ribbon, founded in 2018, becomes more popular as housing market heats up
  • Company looks to make homebuyers with less money on hand more competitive against all-cash offers
  • Working with buyer’s agent, Ribbon helps buyers to make all-cash offers of their own

Summary by Dirk Langeveld

In the real estate market, cash is often king. With strong demand for housing and limited available inventory, it’s not uncommon for a seller to receive multiple offers on their home. Offers where the amount is offered in cash rather than contingent on financing are typically more attractive to the seller, since it removes one potential hiccup in the process.

Unfortunately, this also means that would-be buyers often find themselves crowded out by wealthier competitors. The real estate startup Ribbon is hoping to level the playing field, helping buyers to make an all-cash offer to increase their chances of winning a bidding war.

The company was founded in 2018 in response to a competitive real estate market, which has only grown hotter as the COVID-19 pandemic has led to remote work arrangements and spurred more families to relocate. Once Ribbon receives a pre-approval letter from a lender and appraises the value of the home, it works with the buyer’s agent to make a cash offer. The process also works to create a more flexible timeline if the buyer has not secured a mortgage by the closing date, buying the property itself and temporarily renting it to the buyer.

Ribbon seeks to appeal to sellers and listing agents as well. The company says its process can help connect sellers with buyers and create more flexible closing dates, while listing agents can easily compile and compare offers.

Spread the Word

More To Explore

Expert Summaries

Know Your Competitors

By Denis Jakuc 

There are tons of benefits to knowing who your competitors are—what they’re offering, their strengths and weaknesses. That knowledge can help you make your products and services stand out,

Latest News

Join with Free InnovatorsLINK Account

Start accessing all the free member benefits and valuable content on the InnovatorsLINK platform. Create a BizLINK listing to boost brand exposure, receive the weekly Main Street Journal newsletter, engage in forums, get full access to free content, and more.