Powerbuyer Ribbon, now owned by sale-leaseback platform EasyKnock, is reintroducing its all-cash offer product to Atlanta and Charlotte.
RibbonCash offers temporary financing for cash offers, a powerful model during the housing boom that allowed it to expand to multiple states. But last year brought two rounds of serious staff cuts, with the company retaining only 30 employees by November 2022.
It suspended new RibbonCash financing at that time as well.
EasyKnock purchased Ribbon in May 2023, saying it would speed up the development of its buyer-seller marketplace, slated to launch later this year. The marketplace will connect sellers to both institutional and individual buyers, giving EasyKnock access to another sector of the housing market. It currently caters to existing homeowners.
Now, after a months-long working period, RibbonCash is once again available to hopeful homebuyers, but only in its two original markets.
“The EasyKnock and Ribbon teams could not be more excited to announce the return of RibbonCash to Charlotte and Atlanta,” said Jarred Kessler, CEO of EasyKnock.
“We believe the Southeast maintains a culture of homeownership that withstands shifts in the market. Mortgage rates and inventory may ebb and flow, but achieving homeownership – and seeking the leading tools to compete – has not,” Kessler said.
The Southeast remains a relatively hot housing market. Though fewer and farther between than the insane bidding wars of the pandemic boom, multiple offers are still typical on well-priced homes, so a cash offer could create an advantage.
EasyKnock is a proptech company that buys houses from homeowners but allows them to remain as renters, giving them access to their equity without the stress of moving.
Ribbon Home, now part of EasyKnock, allows everyday families to compete on a level playing field by upgrading their offers to cash.