With Waterstone Cash Now, Powered by Ribbon, you can upgrade your offer to stand out from the competition.
In a competitive market, sellers may receive several offers on their home. In addition to the highest bidder, sellers typically look for the following in an offer:
- Ability to close quickly
- As few contingencies as possible
- A secure offer that won’t fall through
Waterstone Cash Now, Powered by Ribbon allows you to present just that: a secure, stable all-cash offer, even if you need mortgage financing. In the unlikely event closing is delayed or there is an issue with your mortgage financing, Ribbon buys the home in cash. Think of it as a safety net for your offer.
How Waterstone Cash Now Works
- Get pre-approved to determine your budget and loan program eligibility (Waterstone Cash Now can be combined with most of our loan programs)
- Find your dream home
- We will work with your real estate agent and Ribbon to draft an offer – backed by Ribbon cash
- On closing day, you’ll close with your mortgage financing.
- If you’re unable to close with financing, Ribbon will close with cash.
- You will rent the home from Ribbon for up to 180 days while financing is secured
- Finally, you’ll buy the home back from ribbon at the original contract price
Benefits of Using Waterstone Cash Now
Make a Strong Offer
In 2021, nearly one-third of all home purchases were paid in cash. Waterstone Cash Now allows buyers who need mortgage financing to compete with the staggering amount of cash buyers on the market.
Certain loan programs may require an inspection, appraisal, home sale, or financing contingency. Because Waterstone Cash Now is an all-cash offer, you can waive most contingencies – making the seller happy. All that’s required is an inspection.
At Waterstone Mortgage, we’re known for closing our loans on time – and so is Ribbon. Together, we will guarantee that your loan not only closes on time, but quickly. Ribbon can close within 14 business days.
Ready to avoid a bidding war and make an offer sellers can’t refuse? Find a loan originator in your area today to get started with a pre-approval.
Available in Alabama, Arkansas, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Geographic restrictions may apply within these states.