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Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows

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Ribbon, Orchard and other young companies created a niche helping home buyers gain an edge during the competitive boom years

Ribbon Home Inc. had a fast-growing business during the housing boom. The New York City-based startup purchased homes with cash on behalf of buyers.

Then it sold the homes to the buyers at the same price, plus a fee, once the buyers got a mortgage.that can close quickly and are considered more reliable. Ribbon has been active in hot markets such as Atlanta and Charlotte.

 

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SmartFailing: What are REStartUps & VC community, learning from implosion of iBuyers, AirBnBust & now PowerBuyers? Homebuyers did you use their all cash offer or compete w/ one in BLIND BiddingWars? Crowdfund DefensiveHomebuying before NCPW? DM

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