Countdown To Buy Launches Automated Real Estate Matching Platform
By: Brittany Dunn
After seeing a disconnect between buyers, sellers, and agents in the real estate transaction process, Jim Hodson envisioned a better, more efficient process to complete these transaction and founded Countdown To Buy (CTB), a next generation online real estate marketplace that aims to offer fair and effective ways to buy and sell properties.
Tuesday, CTB announced the launch of its automated real estate matching platform, which the company says is equally capable of supporting foreclosures, short sales, and traditional property transactions.
“We set out to create an environment of trust between buyers, sellers, and third parties,” said Hodson, CEO of CTB. “Now more than ever home buyers need 100 percent transparency and unbiased information throughout the entire home purchase process. Countdown To Buy’s online real estate platform eliminates negotiation and mitigates uncertainty surrounding the foreclosure market, essentially unlocking foreclosure purchase opportunities for home buyers.”
CTB uses a patent pending technology that automatically matches buyers and sellers in real estate transactions through a time-limited process that reduces the property’s list price 1 percent per day. Through this technology, offers are confidentially submitted and systematically compared to the daily price. When an offer matches or exceeds that price, the offer is autOmatically accepted, and the contract process is initiated.
According to the company, home buyers can obtain unprecedented access to information on various properties, and offers can be placed at any time. CTB believes banks and servicers benefit from this process, which aims to accelerate the sales cycle, maximize return, and mitigate risks.
“Banks and servicers are currently holding considerable volumes of non-performing assets and it is expected to increase in the months to come,” said Dan Connell, CTB president. “From list to close, we have improved the home buying experience and we believe Countdown To Buy will significantly accelerate the sale of a property while ensuring buyers are getting the best possible value on the home of their choice.”
In conjunction with the launch, CTB has entered into an agreement with a nationwide servicer of residential mortgages to launch its initial pilot program in the Northeast. The company will be offering a sampling of properties located in Connecticut, New Jersey, and New York starting Tuesday, and there is a possibility that other locations will be added. In addition, CTB is currently in negotiations with other leading banks and servicers for additional programs throughout the United States.
Founded in 2008 and headquartered in Bethel, Connecticut, CTB said it built its technology and marketing platform specifically to expedite the sales cycle in real estate transactions through a time-limited, objective, and confidential offer system. Through a streamlined technology process and unbiased transaction support, CTB services demand from banks, servicers, home buyers, and investors.
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