{"id":3451,"date":"2022-08-30T18:45:58","date_gmt":"2022-08-30T18:45:58","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2022\/08\/30\/ribbon-announces-extension-of-ribbonreserve-price-lock\/"},"modified":"2025-03-13T02:46:28","modified_gmt":"2025-03-13T02:46:28","slug":"ribbon-announces-extension-of-ribbonreserve-price-lock","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2022\/08\/30\/ribbon-announces-extension-of-ribbonreserve-price-lock\/","title":{"rendered":"Ribbon announces extension of RibbonReserve price lock"},"content":{"rendered":"\n

Power buying firm Ribbon<\/strong> announced an expansion of its RibbonReserve<\/strong> product on Tuesday. Homebuyers using the RibbonReserve product will now receive a 12-month price lock on the purchase price of their home.<\/p>\n\n\n\n

Through RibbonReserve, Ribbon purchases the home on behalf of the buyer, providing up to 12 months to secure financing. Ribbon leases the home to the buyer, then sells back with a guaranteed home price lock for 12 months.<\/p>\n\n\n\n

The firm says<\/a> that this extension will allow first-time homebuyers more time to secure the best financing option for them, and it will also provide existing homeowners buying a new home with more time to sell their current home.<\/p>\n\n\n\n

\u201cWe are in the middle of a major housing crisis with accessibility becoming harder on a daily basis. One of the most consistent things we hear \u2014 from agents, loan officers and their clients \u2014 is the challenge of affordability as inventory and mortgage rates see-saw,\u201d Shaival Shah, co-founder and CEO of Ribbon, said in a statement. <\/p>\n\n\n\n

Ribbon believes that this is the perfect time to launch this product as many prospective homebuyers <\/a>have paused their home search in hopes that mortgage rates<\/a> will drop. With the extension on RibbonReserve, buyers can purchase their home now and continue to wait for a better financial situation, while still having the purchase price of their home guaranteed.<\/p>\n\n\n\n

Founded in 2017, Ribbon currently operates in 17 states. In late-July, the firm laid off 136 employees<\/a> due to the shifting market conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ribbon extends RibbonReserve timeline, giving homebuyers 12 months to secure financing before purchasing their home for a guaranteed price.<\/p>\n","protected":false},"author":34740,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1760],"class_list":["post-3451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nRibbon announces extension of RibbonReserve price lock - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Ribbon extends RibbonReserve timeline, giving homebuyers 12 months to secure financing before purchasing their home for a guaranteed price.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtrends.com\/blog\/2022\/08\/30\/ribbon-announces-extension-of-ribbonreserve-price-lock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ribbon announces extension of RibbonReserve price lock\" \/>\n<meta property=\"og:description\" content=\"Ribbon extends RibbonReserve timeline, giving homebuyers 12 months to secure financing before purchasing their home for a guaranteed price.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtrends.com\/blog\/2022\/08\/30\/ribbon-announces-extension-of-ribbonreserve-price-lock\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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