The Charlotte market has experienced a surge in buyers who waited out stay-at-home orders and are now searching for their dream home. Unfortunately, inventory has not kept up with demand, resulting in a shortage of homes and many multiple offer situations.

When this happens, a buyer—using the strategic advice of their Realtor—needs to submit the most attractive offer possible. Variables include price, earnest money deposit, financing, closing date, and more. But up until a couple years ago making an all-cash offer was out of reach for most people.

Enter Ribbon, a Charlotte-based company that puts the power of an all-cash offer within reach.

Ribbon allows you to come in—using their money—and make a strong offer. Then you either obtain traditional financing before the property closes (knowing you have Ribbon to close as a back-up) or after closing (knowing you’ll work out the financing later without risking the loss of your home). They can often move from contract to close in two weeks, making your offer more attractive to sellers looking for a quick close.

“Recently, a buyer of mine used Ribbon to avoid losing the deal,” shared Debbie Hooker. “From the time they filled out the application until the closing day, everything was smooth and efficient. They were thrilled! They secured the home of their dreams on the agreed-on timetable and then they put traditional financing in place within a month. I’d definitely recommend Ribbon again.”

Here’s how it works.

• Prospective home buyers fill out a 10-minute online application. Within 24 hours, the company gives the buyer the maximum dollar amount they can use to make an all-cash offer.

• Ribbon does their own same-day free professional home valuations—similar to an appraisal—which further expedites the closing timeline while accurately assessing the maximum amount Ribbon will offer on a home. (And in our experience, they’re extremely reasonable when negotiating repairs.)

• If the buyer obtains traditional financing and can close on time, then Ribbon money isn’t used. Otherwise, the property closes and the buyer rents the home from Ribbon until they’re able to secure their own financing.

• The purchase price from Ribbon is already agreed upon in the contract so there’s no more negotiations. The buyer just needs to close when they’re ready.

• Change your mind? You’re only obligated to pay rent for a year or if you need out of the contract sooner, all fees are laid out beforehand.

We’ve seen this be a game-changer. One buyer was in a very competitive, multiple offer situation on a home, and an all-cash offer with an expedited timeline helped win the contract. Another buyer needed more time to secure traditional financing due to credit issues. And another buyer needed to close on a new construction home by a certain date or lose their earnest money deposit. All these clients strategically used Ribbon to get the home of their dreams.

If you’d like more information about Ribbon or any financing products, please let us know. We have vetted professionals who can help. Also, please know that for both buyers and sellers, we have protocols in place to help keep you safe.