NEW YORK, Aug. 24, 2021 /PRNewswire/ -- Ribbon today announced its expansion to Florida. Through Ribbon's Cash Offers, Florida homebuyers can now make a non-contingent, all-cash offer with Ribbon: waiving mortgage, appraisal and home sale contingencies. With Ribbon's guaranteed close and appraisal protection feature, homebuyers and agents can now make the most powerful offer in home buying.
As home sellers prefer to receive Ribbon-backed cash offers, Ribbon's entry into Florida follows exponential growth in its buyer, seller and agent products as the solution of choice in competitive, multiple offer situations. Designed for both first time homebuyers and existing homeowners, Ribbon is extending its mission to make homeownership achievable across Florida.
Florida homebuyers, and first-time homebuyers in particular, are faced with significant headwinds in purchasing their dream home. According to Florida Realtors data, 3,771 single-family homes were purchased with cash offers in May 2020. In May 2021, the number tripled to 9,376 — a 148.6 percent increase.
"There are immense challenges homebuyers face in Florida's real estate market, but Ribbon aims to ensure they aren't insurmountable. Aside from increased interest in home ownership, homebuyers now have to compete against Wall Street investors, turning housing into long-term rentals at the expense of qualified buyers," said Shaival Shah, CEO and co-founder of Ribbon.
"As we launch in Florida, our mission remains the same — partnering closely with real estate agents and lenders to level the playing field for everyday buyers against high net worth individuals and investors, promoting certainty for sellers, and pushing to make homeownership more achievable and fair."
Ribbon works directly with real estate professionals who remain key advocates for buyers and sellers - and experts in how the local market can meet a buyer's needs.
"Purchasing a home can be a daunting task, especially in today's market where homes are coming off the market at a rapid pace," said Kendall Bonner, broker-owner of RE/MAX Capital Realty in Tampa, Fla.
"Partnering with Ribbon and enabling my clients with RibbonCash Offers will allow my clients the opportunity not just to compete in this market, but to win the home they love - the home that fits their life and their needs."
In addition to Florida, Ribbon operates in North Carolina, South Carolina, Texas, Tennessee and Georgia, and plans rapid expansion in 2021 and 2022. For more information about Ribbon, visit www.ribbonhome.com.
About Ribbon: Founded in 2017 in New York and Charlotte, Ribbon is on a mission to make homeownership achievable. Ribbon allows everyday families to compete on a level playing field with high net worth individuals and institutional buyers by upgrading their offers to winning RibbonCash Offers. As the leading real estate technology platform, Ribbon empowers agents, brokerages, and lenders to create a world-class experience for home buyers and sellers through powerful financial products and digital workflow software. Visit ribbonhome.com.
Media Contacts: Sean Piazza Communications Director, Ribbon [email protected] 770.712.9064