So, here's a cool story out of uptown St. Pete. There was a financed buyer looking for a humble abode in uptown, looking to be around $320,000. He lost out on FIVE houses and just couldn’t compete with all the cash offers. The buyer researched solutions and landed on UpEquity out of Austin, TX. Essentially, the company, like RibbonHome.com and other intermediaries, is there to level the playing field for financed buyers. Capitalism creating solutions!

After going through the process with UpEquity, the buyer was able to make a “cash” offer of $350k on a home listed at $315k. It was a risk for the buyer because he knew he had to come up with at least $35k on top of the 10% needed for down payment—If the appraisal was even at $315k. Market comps set expectations even lower at $305k. So now he’d need $45k on top. For him, he was in a financial place where taking the risk was worth it.

Great news! It didn’t matter! The appraisal came in at $335k, meaning the buyer could keep more cash in hand. And most important—he finally has a place to call home!