New startup wants to help you make a cash offer on a house

With one economist calling this spring “the most competitive housing market in recorded history,” all-cash offers have become a trump card for the wealthy in home-bidding wars that have erupted all over the country. But Ribbon, a startup that launched last week, wants to give the cash-offer advantage to everyone. Backed by venture capital firms NFX, Bain Capital, Greylock, and NYCA, the startup launched in Charlotte, North Carolina, and represents both home buyers and sellers, and, in short, provides a guaranteed offer to facilitate all-cash home transactions, in exchange for a 1.95 percent fee.

Source: Curbed

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