In my experience, contingent offers don’t typically fly with sellers. In a hot market, most homeowners don’t want to put their eggs in another person’s basket.
That’s why I’m grateful for a new company in town called Ribbon Homes, which can help take care of the stress of selling a home while also trying to buy a new one. In the past, we’d advise people to put their homes on the market first, and they’d typically have two or three weeks to find a replacement home to buy. This way, they could round out both transactions at roughly the same time.
Now, Ribbon Homes does it a little differently. After you get an approval letter from your lender, you can go out and choose your new home without the pressure of having to sell another home.
“I’m a true believer in this system because I know what it has done for our clients.”
How? Well, Ribbon will pay cash for the new home you chose, closing in a time frame that works for you, which will allow you to move into that home on a temporary rental basis—up to six months, if needed. If there’s a concern about cash flow on the front end, they’ll be able to defer those rent payments. They’ll then be able to better prepare your current home by staging it properly so they get the highest value possible when you do sell it. Once Ribbon closes on the new home, they’ll be able to sell it to the client for the price they purchased it.
There is a 2% fee to do it this way, but it can also help clients avoid the negative associations sellers have with contingency offers and the pressure of having to buy and sell a home at the same time.
The thing I like most about the Ribbon program is that it empowers us as real estate professionals. They don’t try to go behind our backs like so many companies out there. They pay a fair market price, they close quickly, and it’s convenient for the clients.
I’m a true believer in this system because I know what it has done for our clients. In the last 30 days, I sold five homes for sellers who wouldn’t have been able to buy a new home without the Ribbon Home program.
To learn more about the program, visit www.RibbonHome.com.
For any other real estate needs you have, don’t hesitate to reach out to us at the RealtyOne Group. We’d love to help you.
