A RibbonCash offer is an all-cash offer that is guaranteed to close following the inspection period (including required repairs). RibbonCash enables buyers to upgrade their offers and provide certainty to home sellers during the transaction process.
Ribbon powered by EasyKnock is now live in select markets. See map for details.
No. iBuyers are companies that use technology to instantly make offers and purchase homes. Ribbon does not purchase customers’ existing homes. Ribbon enables homebuyers to make all-cash offers on residential properties.
No. Ribbon works with lenders to provide flexible options for homebuyers. Ribbon does not offer bridge loans. In fact, our RibbonCash program eliminates the home sale contingency.
If you are a real estate agent or lender, you can create an account at Ribbon. If you are a homebuyer or home seller, please contact your agent to get started.
Ribbon’s products and assets were acquired by EasyKnock in May 2023. We are thrilled to join EasyKnock’s platform, with its pioneering sale-leaseback programs, to provide even more solutions to more customers. RibbonCash Offer is launching in select markets at first, with some enhancements to the original program. Ribbon looks forward to sharing the revamped RibbonCash Offers and continuing to help provide certainty and transparency in the homebuying process.
Unlike traditional offers or other cash offers, RibbonCash waives the appraisal and home sale contingencies to provide certainty during the transaction. Additionally, the deal is guaranteed to close following the inspection period and required repairs, which further injects the transaction with much-needed certainty.
Any buyer who has a pre-underwritten pre-approval letter from a lender can use Ribbon.
1. In our areas of operation, we purchase single family homes, townhouses and condos which the customer intends to occupy.
2. Our minimum purchase price is $200,000 and our maximum purchase price is $600,000.
3. The lot size can be no more than 4 acres of land and the home must have been built after 1960, or be fully renovated.
4. Short sales, foreclosures, manufactured/modular homes and homes being sold “as-is” are not eligible.
5. If applicable, buyers and agents should consult the Homeowners Association to understand if there are rental restrictions in place before writing a RibbonCash offer.
No. Currently, Ribbon only supports buyers purchasing their primary residence.
Ribbon uses the buyer’s existing pre-underwritten pre-approval letter from their lender of choice to determine the amount of cash we can back the buyer with, which we call Buying Power. We take care of contacting the buyer’s lender to confirm the details.
On average, it takes 24 hours or less to become qualified. Buyers and their agents can assist us in shortening this timeframe by making a connection between their Ribbon Account Manager and loan officer.
The fee to use Ribbon depends on your location and offer details. In general, Ribbon charges 1.25% of the purchase price to upgrade an offer to cash and 3% to purchase the property on the customer’s behalf if the customer is unable to close with their own lender on the scheduled closing date. An outline of our pricing can be found here.
The Ribbon fee is paid to us to enable buyers to write all-cash offers that are guaranteed to close following the inspection period and required repairs. The Ribbon Fee is negotiated alongside all other contract terms and is collected as a deposit upon offer acceptance and paid to Ribbon at closing.
There is no fee due to Ribbon if the offer is not accepted by the seller.
1. RibbonCash includes Appraisal Protection, which protects the purchase of the home even in the event the home does not appraise at a value at or above the purchase price. Appraisal Protection is designed to absorb the risk of an appraisal shortfall by paying the seller the difference between the low appraised value and purchase price (up to the Max Ribbon Value).
2. An additional fee is charged for Appraisal Protection where the buyer makes an offer above the Ribbon Value, which is Ribbon’s estimated value for the home. The Appraisal Protection Fee is 25% of the difference between the Ribbon Value and the purchase price (up to the Max Ribbon Value).
1. Once the buyer has identified a home (or several homes) of interest, simply enter them into our system. Our valuation team will then research the property, ensure it is within our eligibility criteria, and use market data to assign the property a Ribbon Value and a Max Ribbon Value. This typically happens quickly, but can take up to 24 hours.
2. The Ribbon Value is Ribbon's estimate of the property's value in today's market.
3. The Max Ribbon Value is the maximum offer amount Ribbon will back with cash on a given property. If the buyer writes an offer above the Ribbon Value, the buyer will be charged an additional fee for Appraisal Protection.
Ribbon allows buyers to offer up to 5% above our Max Ribbon Value, as long as it is not more than their Ribbon Buying Power. The buyer will need to add the overage amount into their earnest money deposits upfront in addition to the Ribbon Fee. This fee deposit must be received prior to the end of the due diligence period.
No. At this time, Ribbon does not support seller possession after closing, early buyer possession, or subleasing.
1. Review the offer. RibbonCash Offers waive home sale, financing, and appraisal contingencies. They are also guaranteed to close following an acceptable inspection and the completion of required repairs. Don't worry about whether the buyer's financing will go through, if the home will appraise at or above contract price, or if the buyer's existing home sale falls through—we've got you covered. The RibbonCash Offer is negotiated between the buyer and seller via their agents.
2. Proceed with due diligence. Once the RibbonCash Offer is accepted, the buyer and seller proceed towards closing as they normally would (e.g., ordering a home inspection, lender scheduled appraisal, completing mortgage approval process, etc.) If the buyer is able to close with their own lender on the closing date, the buyer purchases the house. If the buyer is unable to close, then Ribbon steps in to purchase the property on the customer’s behalf.
Yes. A buyer will pay an earnest money deposit on the contract, which represents the buyer's good faith intention to buy the home. The deposits and/or seller paid closing costs in the purchase contract will include the Ribbon Fee (and any applicable Appraisal Protection Fee) and will be disbursed to Ribbon at closing.
1. RibbonCash Offers use state-approved form purchase agreements. The offer is marked as cash with no contingencies (except an inspection window) and the Ribbon Offer Addendum is executed by the parties and included as an attachment.
2. The Offer Addendum states that if the buyer is unable to secure financing on the agreed-upon closing day, Ribbon will step in and purchase the home on the buyer's behalf. Our software tools enable the buyer's real estate agent to set the offer parameters, add the necessary addenda, and write the RibbonCash Offer in minutes.
3. Agents are responsible for submitting additional addenda (e.g., lead-based paint, property disclosures, FHA/VA financing) per state requirements.
1. Yes. Ribbon requires a general home inspection to be completed on all transactions in order to fully understand the condition of the home.
2. Additional requirements include:
1. Once a Ribbon-backed buyer is under contract on a new home, the buyer will schedule and pay for the home inspection.
2. Ribbon will review the inspection report, highlighting all repairs that must be completed if (and only if) Ribbon must step in to purchase the home on the buyer’s behalf.
If the buyer is purchasing the home and closing with their lender, Ribbon does not require specific repairs to be completed; however if Ribbon steps in to purchase the home on behalf of the buyer, Ribbon’s required repairs must be completed prior to closing.
Yes. However, all repairs on Ribbon’s required list must still be completed prior to closing if and only if Ribbon steps in to buy the home on the buyer’s behalf.
1. Ribbon requires a copy of all inspection reports and the buyer/seller negotiated repair addendum.
2. Ribbon will provide the buyer with a list of Ribbon Required Repairs which must be completed before Ribbon will close on the home if purchasing on the buyer’s behalf.
3. If Ribbon steps in to purchase the home, Ribbon will require a copy of the completed repairs and proof of completion.
No. Ribbon does not complete an appraisal. The buyer’s lender orders the appraisal, and the buyer provides a copy of the appraisal report to Ribbon.
Ribbon closes the transaction with a preferred attorney or title company that is trained and vetted to specifically handle RibbonCash transactions. Our internal transaction coordination team keeps close track of timelines and communicates with necessary parties to ensure a smooth closing.
Ribbon currently uses
1. Ribbon is a partner in the real estate ecosystem that provides optionality via cash offers and security through the home purchase process. Ribbon offers a competitive edge that allows buyers to compete with other real estate purchasers using traditional loan products by backing them with cash and removing contingencies.
2. RibbonCash Offers are stronger than financed offers and waive home sale, financing and appraisal contingencies. Ribbon also guarantees closing upon satisfactory inspection of the home and completed repairs (if applicable). This greatly improves the chances that the offer is accepted and the buyer wins their dream home.
When a RibbonCash Offer is accepted, the buyer, seller, and Ribbon execute an Offer Addendum, which becomes part of the purchase contract and lays out Ribbon’s role as a back-up cash buyer. Ribbon allows the buyer to pursue their own financing, and will only step in to purchase the home if and only if the buyer cannot close with their own financing by the set closing date. If we do need to step in and purchase, there is no need to amend the contract because the Ribbon Offer Addendum already covers the situation.
As an agent or lender, simply create an account at www.ribbonhome.com and get started! Add properties your client is interested in, upload your client’s pre-underwritten, pre-approval letter for buying power and write a cash-backed offer with ease.
Ribbon requires a minimum of 10 calendar days for the inspection/due diligence period.
Ribbon requires a minimum of 20 business days for conventional financing and 30 business days for FHA and VA financing to ensure the buyer has enough time to secure financing.
1. Ribbon Program Agreement: This is a contract between the buyer(s) and Ribbon detailing the terms of our program.
2. Ribbon Offer Addendum: The buyer, seller, and Ribbon executed an Offer Addendum, which is attached to the state-specific purchase agreement. It provides that if and only if the buyer cannot purchase the home on the closing date, Ribbon will purchase it on the buyer's behalf.
3. State-approved standard lease: The buyer will enter into a lease agreement with Ribbon as the landlord, if Ribbon ends up purchasing the home.
Yes! If Ribbon has to purchase the home on your client’s behalf, you will be treated as Ribbon’s agent and you will receive the buyer’s agent share of commission paid by the seller as listed in MLS. Commission is paid to the brokerage, in full, on the first transaction.
In general, Ribbon charges 1.25% of the purchase price to upgrade an offer to cash and 3% to purchase the property on the customer’s behalf if the customer is unable to close with their own lender on the scheduled closing date. You can find the fee breakdown here.
When Ribbon backstops an offer by purchasing a house, it does so in order to assist the customer in buying a home. If the customer is unable to buy the home by the end of the lease period, the customer would need to vacate the property and Ribbon would sell it.
A Ribbon valuation on a property is valid for 14 days. If the offer is not made or accepted within 14 days, our Valuation Team would need to review and update the valuation accordingly.
Yes. Under Appraisal Protection, Ribbon will provide a credit or bring cash to the closing to cover the difference between the appraised value and contract value, up to the Ribbon Max Value. The buyer is responsible for covering the difference if the purchase price is above the Ribbon Max Value.
The rent is determined and shared with the buyer’s agent once Ribbon completes the home valuation. The rent will generally be based on fair market value, including carrying costs of the home, such as taxes, insurance, HOA dues etc. We do not collect a security deposit.
No. Ribbon supports all financing types.
Yes, the buyers and sellers can negotiate who covers the cost of the Ribbon Fee and/or closing. However, the payment of the Ribbon Fee by the seller is subject to restrictions based on loan type.
No. Ribbon works with all lenders to provide optionality and security during the home purchase transaction.