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Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

In the USA, they created a startup that helps to buy housing if you do not have enough money

Across the country, many homes are sold within days or even hours of being put up for sale at prices well above last year's. In some cases, buyers are investors who can pay in cash. It becomes more and more difficult for beginners to compete. A startup called Ribbon is helping people like that. Writes about it Fast Company.

Photo: Shutterstock

A startup called Ribbon is trying to give ordinary buyers an advantage: if they can't afford to make an offer in cash, the company will do it for them and give the buyer time to get a mortgage.

“We founded a company with one mission and purpose - to help ordinary families buy a home. When we studied the problems in the market, we constantly saw situations where home buyers looking to buy a house were competing in the market with large buyers, ”says CEO and co-founder of the startup Shaival Shah.

The company was founded in 2018 (backed by NFX, Bain Capital Ventures, Greylock and NYCA). Now her task has become even more serious. This is partly due to the fact that people have switched to remote work and are moving to cheaper areas of the country.

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If, say, some people moving from New York to Nashville or San Francisco to Charlotte can offer cash, while others cannot, then the cash offer is likely to win. And this is in addition to investors who buy houses to rent.

Ribbon starts by evaluating the buyer's pre-approval from the lender and then verifies the buyer directly. After that, he estimates the maximum value of the house and works with the realtor to make an offer. If the buyer does not have a mortgage at the closing date, Ribbon will buy the home and rent it out to the client for up to 180 days, after which the buyer can purchase the home at the original contract price.

According to Shah, the company's business has grown almost 10 times since the beginning of the year.

“What we are seeing right now is an unusually low supply of housing on the market and an incredibly high demand from buyers,” he says. - And the combination of these two factors produced a rather large and significant shock for the housing market. Prices are rising. And home buyers are competing with dozens, dozens and dozens of other families. They need to act very, very quickly. "

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Shah expects the current hot market to last for at least a couple of years. The expert noted that he was moving in this direction even before the pandemic lowered interest rates and made many more people become interested in buying houses.

“This is a national problem. It is not localized. And this is probably a problem that is very, very actively discussed in Washington: what to do with the housing shortage? " He says.

The company's service will not solve this shortage. But this is one way to give potential home buyers with less savings the opportunity to make a successful bid and purchase a home.

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