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How to get your offer accepted as a cash buyer and still finance.

How to get your offer accepted as a cash buyer and still finance.

Are you a home buyer or Realtor making offers on homes only to be beat out by cash buyers?  I know it is frustrating.  You are a perfectly good buyer with a strong pre-approval for financing. But in today’s market, sellers think cash is better.

In a competitive housing market, cash is king. Buyers who can bring liquid capital to the closing table are 3x more likely to win bids on the homes they want. But what if you don’t have the resources to afford an all-cash offer? No problem.  I have your back and your cash, with my Certified Approved Buyer Program and our partnership with Ribbon, you can now make offers as a guaranteed cash buyer.
The Richard Woodward Team and Ribbon makes you a competitive cash buyer so you can land your dream home before you sell your current home.  No double mortgage, and only one move. How to get your offer accepted as a cash buyer and still finance Welcome to the modern bridge loan.
Win in a competitive market ever with FHA and VA financing or 97% conventional mortgages.  I provide you my Certified Approved Buyer Letter for the financing at your maximum purchase price, Ribbon provides your seller with a Cash Offer guarantee.

Cash offers have no home-sale, financing or appraisal contingencies and are 3x more likely to win.

Write a cash offer the moment it hits the market. You’ll know where you’re moving before listing your current home.

Sell on your timeline

With your next home secured and closed, you can list your existing home right away or take the time to list at your own convenience, up to 5 months from closing.

Buy in cash, sell on your terms

Trying to coordinate buying and selling a home at the same time can be overwhelming and stressful. With Ribbon and The Richard Woodward Team, you can buy your new home first and gain valuable time to sell your current home at the best price.

Cash solutions for every situation

Ribbon Boost

*1%

Ribbon backs your offer with cash and appraisal protection to make it stronger. If you secure your financing on time, great! If not, Ribbon will reserve the home and sell it back to you for the same price.

PERFECT FOR
Simultaneous closings

Secure your next home then list your existing one. Time the purchase and sale closings knowing that Ribbon can step in if something goes wrong.

Multiple offer situations

Use Ribbon to remove financial and home sale contingencies and win your dream home.

Ribbon Reserve

*2.0 – 2.75% + rent

Ribbon will buy your next home for you and sell it back to you for the same price. You can move in right away and sell your existing home at your convenience.

PERFECT FOR
  • Closing fast
  • Ribbon can close within 14 business days. Reserve your next home with Ribbon, move in immediately, and get up to 6 months to secure financing.
  • Buyers who need to sell first
  • Use Ribbon to reserve your next home, move in immediately, and get up to 6 months to sell your existing home for max value.
* If Ribbon reserves the home the Ribbon Reserve pricing applies. If the home is already under contract the Ribbon Rescue pricing applies. Pricing varies by state, see our pricing page for more details.

How it works

See an overview of how Ribbon Cash Offers work

1  GET BUYING POWER AND A HOME VALUATION

See how much we can back your buyer with cash.

2  WE BACK YOUR BUYER WITH CASH TO WIN

Make a powerful all cash offer with Ribbon’s backing.

3 RIBBON OFFER ACCEPTED

Closing and commission are guaranteed once the inspection period ends.

4  CLOSING DAY

Ribbon purchases the home and reserves it for your client if financing isn’t secured.

5  PRORATED RENTAL PERIOD

The buyer only pays for the days they need and gets up to 180 days to secure financing and buy the home back.

6  REPURCHASE

The buyer buys the home back from Ribbon at the original contract price with financing from The Richard Woodward Mortgage Team

Here’s what happens at each step of the way

Prefer video? Watch our Video Guides!

1
GET BUYING POWER AND A HOME VALUATION
See how much we can back your buyer with cash as well the rent costs.
  • Upload the buyer’s pre-approval to the Ribbon platform.
  • Once our team confirms details with the loan officer, we will back the buyer with Ribbon cash up to the pre-approval amount.
  • When a prospective home has been identified, add it to the platform and we’ll provide you with a home valuation from our internal team. This is the maximum amount of cash that Ribbon will provide, based on the home value.
  • We’ll also tell you how much the pro-rated rent costs would be if Ribbon was to reserve the home on behalf of your client.
  • This process usually takes less than 24 hours. In a hurry? Expedite your request by speaking directly with your Ribbon representative.
Learn more

2
WE BACK YOUR BUYER WITH CASH TO WIN
Make a powerful cash offer with Ribbon’s backing
  • Ensure your buyer has signed the Program Agreement and understands Ribbon’s offering.
  • The Ribbon Fee is written into the contract and can be split between buyer deposits and seller paid closing costs.
  • The power of the Ribbon closing guarantee comes in the form of the Ribbon Offer Addendum. It acts like a contract assignment, ensuring that if your buyer can’t close by closing day, Ribbon will step in to buy the home.
  • The Ribbon Offer Addendum also waives all financial and home sale contingencies and includes Appraisal Protection where we allow the buyer to waive the appraisal up to the Ribbon Maximum Value.
  • Work with your Ribbon specialist to craft the best offer for your buyer. Ribbon’s online software makes completing the offer and sending for signatures seamless.
  • Once your buyer has signed, quickly send your offer to the listing agent directly through our platform, inclusive of the offer, Ribbon Offer Addendum and Ribbon Cover Letter that details the value of a Ribbon Cash Offer to the listing agent and seller.
Ribbon Boost
  • In order for the buyer to close with their own financing, make sure you choose a closing date that gives you enough time.
Ribbon Reserve
  • Close in as few as 14 business days.
Learn more

3
RIBBON OFFER ACCEPTED
Closing and commission are guaranteed once the inspection period ends
  • Congratulations! Your buyer’s offer has been accepted.
  • Ribbon guarantees the sale following an acceptable inspection and may require repairs that affect the safety and structural soundness of the home.
  • Once the inspection period is over, the home is guaranteed to close
Ribbon Boost
  • Order the inspection
  • Kick off the financing process by ordering the appraisal. Ribbon will guarantee the appraisal value up to our Ribbon Max Value
  • If your client is unable to close on closing day, Ribbon will purchase the home on the buyer’s behalf
Ribbon Reserve
  • Order the inspection
  • Work through the closing process with your dedicated Ribbon Transaction Coordinator
  • Your client moves in and has 180 days to purchase the home back from Ribbon at the same price we originally paid

4
CLOSING DAY
Ribbon purchases the home and reserves it for your client if financing isn’t secured
Buyer closes with their financing with The Richard Woodward Mortgage Team
  • If financing is secured by closing day, great! Your buyer will close as normal.
  • 1% of the deposits will go to Ribbon to pay for our fee and the rest will be applied as a credit the buyer at closing.
Ribbon purchases the home
  • If financing isn’t secured (or you chose the Ribbon Reserve solution), then Ribbon will purchase the home.
  • Ribbon pays all customary buyer-paid closing costs when we purchase the home and the buyer pays closing costs when they repurchase from us
  • Ribbon will complete the closing process and your client is able to move in once we’re on record!

5
PRORATED RENTAL PERIOD
The buyer only pays for the days they need
  • If Ribbon purchased the home on your client’s behalf, your client will have up to 180 days to secure financing and repurchase the home at the same price we originally paid.
  • Your client will only pay for the days they need with rent prorated to the day.

6
REPURCHASE
The buyer buys the home back from Ribbon at the original contract price with financing by The Richard Woodward Mortgage Team
  • Congratulations! Your buyer now owns their dream home!
  • The buyer will pay customary closing costs.

 

Contact Us

Nexa Mortgage - Richard Woodward
7820 Hague Ct
Plano, TX 75025
Phone: (214) 945-1066

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Licensing

Richard Woodward
Branch Manager
NMLS #217454
Company Licensing
Company State License#
AZMB - 0944059
NMLS# 1660690

Equal Housing Lender