Appraisal Protection FAQ

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General
Pay Later
EligibilityCostService Conditions
Pay Now
Cost

General

In what states are Appraisal Protection Pay Later and Pay Now available?

Appraisal Protection Pay Later and Pay Now are currently available in Tennessee.

How do I determine what’s right for me?

Your agent can help you determine what option is best for you, based on your financial situation, appraisal trends in the local housing market, and the bid you would like to make on a home via the Ribbon program.

Can I pay the appraisal gap without opting into Appraisal Protection?

It depends on what version of Appraisal Protection you selected when writing your Ribbon-backed offer.

  • If you chose "Pay Now" Appraisal Protection, Ribbon will cover the shortfall at closing but keep the non-refundable 1% fee that is due.
  • If you chose "Pay Later" Appraisal Protection, you do have the option to bring additional cash to close the deal instead of signing our options agreement contract.
In what states are Appraisal Protection Deferment and Assurance available?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

How do I determine what’s right for me?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Can I pay the appraisal gap without opting into Appraisal Protection?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

What’s the catch?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Pay Later

Eligibility

How do homeowners qualify for Ribbon’s Appraisal Protection?

If you qualify for Ribbon's Cash program, then you automatically qualify for Appraisal Protection.

Eligibility

How do homeowners qualify for Appraisal Protection Deferment?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

What types of property are eligible for Appraisal Protection?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Cost

When and how is Ribbon paid?

If you sell or have a cash-out refinancing within 30 years, Ribbon will get paid the Appraisal Protection Amount and Service Fee from the sale proceeds—not from you. You can also pay Ribbon early if you'd like.

What happens if my home’s value has dropped at the time of sale or refinance?

If your home declines in value, the Service Fee is $10 and the Appraisal Protection Amount is forgiven.

How much does Appraisal Protection Pay Later cost?

The payment to Ribbon is based on two amounts - the Appraisal Protection Amount we provide at closing and a Service Fee.  Typically, the Service Fee is 10% of the Home Price Appreciation that occurs between your initial purchase with Ribbon and a future sale or cash-out refinancing. Visit our How it Works page to calculate an estimate of how much Appraisal Protection could potentially cost you.

How is my property's value determined?

In the Appraisal Protection program, the value of your home is the appraisal value provided by your lender.  For calculating the Home Price Appreciation part of our Service Fee, we compare the initial appraised value at the time you purchase the home against the new appraised value at a future sale or cash-out refinancing event.

Can I pay Ribbon before the end of the term?

Yes, you can pay Ribbon at any time.  We request a 30-day notice about the planned repayment, and will base the Service Fee calculation off of a recent home appraisal.

Are there really no monthly payments associated with Appraisal Protection?

Correct. Ribbon is not a lender and does not make loans to the buyer. The options contract only gets triggered at the time of sale or or a cash-out refinancing.

Cost

How much does Appraisal Protection Deferment cost?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

When and how is Ribbon paid?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Can I repay Ribbon before the end of the term?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Service conditions

Will a lien be placed on my home?

No. However, the contract will be filed with the County Department of Land Records.

What’s the catch?

There isn't one. Ribbon pays the Appraisal Protection Amount in hopes that your home sells or re-appraises at a higher value than today. In exchange, we earn a fee when that happens along with receiving the Appraisal Protection Amount.

What is the options contract?

It is a contract that gives Ribbon the option to purchase a percentage of the home at a pre-determined price upon a sale or cash-out refinancing. However, this contract also gives the homeowner the ability to cancel this option by using the proceeds of the sale or refinance to pay the Appraisal Protection Amount and Service Fee.

What is the difference between Appraisal Protection and a loan?

A loan is a personal obligation that must be paid back at maturity. The Appraisal Protection amount (and fees) is only required to be paid from the proceeds of a sale or a refinance if the home goes up in value.

Is Ribbon added to the title of the property?

Ribbon records the options contract, if applicable, with the county at the time of closing.

Service conditions

What is an options contract?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Is Ribbon added to the title of the property?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

In what states is Ribbon available now?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Pay Now

Cost

When is the Pay Now fee collected?

The 1% non-refundable fee is collected from deposits at closing.

Is the Pay Now fee refundable?

No. In the event that the home appraises at or above your offer price, Ribbon still collects the 1% fee.  The "Pay Now" program is intended to give you peace of mind that any appraisal shortfalls will be covered at closing, with no future obligations to Ribbon.

How much does Appraisal Protection Pay Now cost?

For the "Pay Now" Appraisal Protection option, there is a non-refundable fee of 1% of the contract price that Ribbon collects.

Eligibility

Are there any limits to what homes can use the Insurance option?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Cost

How much does Appraisal Protection Assurance cost?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

When is the Assurance Fee collected?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Is the Assurance Fee refundable?

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Looking to review Appraisal Protection’s benefits?

Review how Ribbon can help you own your dream home, even if it under-appraises.

Visit the Appraisal Protection landing page