Ribbon Home Reviews

What is Ribbon Home?

Ribbon Home was a real estate service designed to make home buying more accessible by turning buyers into cash buyers.

The company worked by purchasing homes with cash on behalf of buyers. Buyers would then rent the home from Ribbon until they secured financing to buy it back at the original purchase price. This "buy before you buy" model removed contingencies, allowing buyers to close faster and make stronger offers. The service also included appraisal protection, ensuring sellers received the full offer price even if appraisals came in lower.

Ribbon Home primarily served first-time home buyers, families relocating for work or school, and buyers needing flexibility due to financing delays. It was especially valuable in competitive markets where traditional offers often lost out to cash buyers.

Ribbon Home Inc shut down its cash offer program due to the housing market shifting from a highly competitive seller’s market to a slower buyer’s market.[1] It was acquired by EasyKnock in 2023.[2]

Ribbon Home alternatives

Other companies can help you buy a home with cash. Here are three top alternatives:

• Homeward makes an all-cash offer on a home on your behalf. Then you buy the home back from Homeward. The company charges a prorated rent while you live in the house before you buy it back.
• Knock has a Home Swap program that allows you to buy your next home before selling your current one. It provides a bridge loan backed by your current home's equity that you can use to make a strong offer. Knock can also lend you up to $25,000 for home repairs.
• Orchard is another buy-before-you-sell company that allows you to buy your new home with a cash-backed offer, then list your old home for top dollar. You can stay in your old home rent free until it sells and use an interest-free advance for upgrades.

You can choose your own agent when working with Homeward or Knock. Orchard provides one for you.

An experienced buyer’s agent can guide you through the transaction, protect your interests, and help you make smart decisions. By answering a few quick questions, you can get personalized recommendations for top buyer’s agents sent straight to your inbox.

Should you use Ribbon Home?

Ribbon real estate program may be helpful for those who need to buy before they sell, are first-time homebuyers, or are struggling to buy in competitive markets.

Ribbon home financing may work for you if you:

• Need to move or close quickly and can’t wait for your existing home to sell
• Are experiencing delays with your financing or home sale
• Want to make an all-cash offer in a highly competitive market
• Are comfortable doing a lot of the work yourself like finding an agent and securing a lender

However, it may not work well for homeowners looking for additional services or help while buying and selling at the same time. Unlike some competitors, Ribbon does not assist with finding a mortgage, offer interest-free loans to assist with repairs, or have a service to buy your existing home if it doesn’t sell.

» JUMP TO: How it works | Purchase criteria | Fees | Customer reviews | Locations

How does Ribbon Home work?

Ribbon Home offers three cash offer services to assist with different buyer situations.

Ribbon Boost

Ribbon Boost is their core cash offer service. To qualify, you’ll need to be pre-approved by a third-party lender. If your mortgage is finalized by closing, you’ll get ownership of the home immediately.

Ribbon Reserve

This service is for customers whose mortgage isn’t ready by closing. Ribbon Reserve will save the deal by purchasing the house at closing. You’ll then rent the home from Ribbon for up to 180 days until your mortgage is ready. The company will then sell it back to you for a 2–2.75% fee.

Ribbon Rescue

Ribbon Rescue helps when you’ve entered a contract on your own by can’t close because your mortgage is delayed. Ribbon Rescue will save the deal by purchasing the home with cash. You’ll then rent the home from Ribbon for up to 180 days until your mortgage is ready.

Here is a step-by-step breakdown of the process when working with Ribbon.

1. Find a lender and get a preapproval letter. How much Ribbon will lend you depends on your mortgage and preapproval letter.
2. Find a home. You’ll need to send Ribbon information on the home you're interested in. The company will tell you the maximum value for each house you send, called the “Ribbon Max Value.”
3. Make a cash offer with Ribbon Boost. If your financing is finalized by closing, you’ll become the homeowner. You’ll pay Ribbon 1% of your purchase price for their service.
4. Use Ribbon Reserve if your financing isn’t ready by closing. If your mortgage is delayed, you can use Ribbon Reserve to buy the home at closing. You’ll need to pay rent to Ribbon until your mortgage is ready, up to 180 days.

What kinds of homes can Ribbon Home help you buy?

To qualify for the Ribbon Home program, you’ll need to look for houses that are:

• Single-family homes, townhomes, condos, or new construction
• $150,000 to $1,000,000
• < 4 acres
• Built after 1960 or fully renovated

Ribbon Home buying will not back purchases for investment properties. Short sales, foreclosures, or manufactured or modular homes are not eligible.

Ribbon Home fees and other costs

Ribbon Home fees vary based on the service and your state. Regardless of which program you use, you will have to pay other typical costs like agent commission and buyer closing costs.

Ribbon Boost

If your financing comes through by closing, you’ll pay Ribbon 1% of the purchase price through the Ribbon Boost program that lets you back your offer with cash.

The fee may be worth it if you’re buying in a competitive market and confident you’ll secure your financing by closing.

Ribbon Reserve

If your financing isn’t secured by closing, you’ll need to use the Ribbon Reserve program which raises your fee to 2–2.75%. You’ll also pay monthly rent on the home, which is typically about equal to the costs of the mortgage payment.

Ribbon Rescue

If you’re already under contract and are struggling to finalize your financing, you’ll need to use the Ribbon Rescue program which increases your fee to 3.25% of the purchase price. You’ll also need to pay monthly rent until you purchase the home back from Ribbon.

Ribbon Home reviews and complaints

Ribbon Home reviews are mostly positive. The company has an average customer rating of 4.3/5 rating from 164 online reviews.

Many positive reviews highlighted that the Ribbon cash offer made their offer more competitive, allowing them to win the home. Reviews from agents also focused on how easy Ribbon was to work with during the buying or selling process. However, negative reviews focused on frustration when Ribbon would back out of deals, closings were unexpectedly delayed, and program costs were not fully explained.

Here are some of the common themes we see from home buyers and agents.

✅ Make a more competitive offer

Ribbon Home cash offer reviews from agents and home buyers reported the services gave them the competitive edge they needed to get their offer accepted.

As is common in this crazy sellers market, our financed buyers lost out on 2 homes then they discovered Ribbon. Ribbon allowed them to make a cash offer with 7 days due diligence and a 21 day close! The offer was immediately accepted and now our buyers are finally in their home that they may not have gotten if it weren’t for Ribbon.”

— Cherie, July 2022, Trustpilot

✅ Agents report Ribbon is easy to work with

Many agents stated enjoying working with Ribbon. They felt the program gave their clients a competitive edge. Plus, they found Ribbon customer service representatives helpful, responsive, and knowledgeable.

I have thus far closed two transactions with Ribbon. First time, I was on the listing side and everything went smoothly. The second time around, I was on the buy side, and we closed on time without any hiccups. Ribbon helped me every step of the way. I would definitely recommend working with Ribbon. I look forward to closing another transaction with them. My thumbs up to Ribbon!”

— Sheila B., August 2022, Trustpilot

❌ Unexpected delays or backing out of offers

Some negative reviews expressed frustration when closings were unexpectedly delayed or Ribbon backed out of signed offers. In many of these situations, the customer stated receiving last-minute information about the changes. Additionally, when closings were delayed by Ribbon, customers stated there wasn’t any compensation.

We were supposed to close on a new construction home 2 days ago, on June 24th. We’ve already paid Ribbon $6,207 out of our pockets for their fees…We found out two days prior to closing that Ribbon needed another two weeks to close…I feel like we’ve thrown so much money away and their fees and the cost for an additional 2 weeks of housing is crazy.”

— Stephanie C., July 2022, Trustpilot

Ribbon did a fast track approval for the purchase agreement price but shortly after we sent the signed offer to the seller, Ribbon rescinded leaving us in a bind. Do not use them, will not recommend them.”

—Timothy H., August 2022, BBB

❌ Program fees not fully explained

Some agents and customers felt the costs of using Ribbon cash offer were not fully explained. These individuals were surprised at the additional charges, often not discovering the fees until close to closing.

I knew it sounded too good to be true. Everything was fine until we got to the part about having to pay $6,000 a month rent on top of the 3% fee. Which wasn’t disclosed until just before the contract was to be signed. Needless to say, the paperwork was never signed and the clients went elsewhere. My advice? Read the fine print with a good, strong, magnifying glass. And then find another company to work with.”

— Mayura, August 2022, Trustpilot

Where is Ribbon Home available?

Ribbon Home is available in the following states:

• Alabama
• Florida
• Georgia
• Indiana
• Missouri
• North Carolina
• Oklahoma
• South Carolina
• Tennessee
• Texas
• Virginia

The company also announced it would expand into six additional states in 2022.[3]

Is Ribbon Home legit?

Yes, Ribbon Home is a legitimate company that provides cash offer services to home buyers. Ribbon is not a lender or an iBuyer.

It was founded in September 2017 by Jian Wei Gan and Shaival Shah.[4] In 2022, Ribbon laid off 170 employees, leaving it with under 30 people.[1]

Related reading

How to Buy Before You Sell with Knock: Knock’s innovative Bridge Loan makes it easier when buying and selling. Find out how it works and what customers think.

How to Find a Real Estate Agent: Not sure what to look for in an agent (or how to find one)? Learn strategies and what to look for so you find the right real estate agent for you.

Here's How to Get a Home Buyer Rebate: Wondering if a home buyer rebate is right for you? Learn more about how home buyer rebates work so you can decide if they’re worth it for you.

Millennial Home Buyer Report: Learn about Millennials' views and barriers when buying homes in 2024.

About our reviews

Our company reviews are powered by hundreds of hours of research. To evaluate and rank cash home-buying companies, we analyzed thousands of customer reviews, secret-shopped each company, and looked to publicly available data for indicators of offer quality, customer service, fees vs. value provided, trustworthiness, and more. Whenever possible, we also talked to customers, company reps, and industry professionals (such as real estate agents) who’ve had direct experience working with the brand.