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Countdown To Buy secures funding of $1.1 million-plus for expansion

NationalMortgageProfessional.com
Dec 16, 2009

Countdown to Buy, a next generation online real estate marketplace that offers a fair and effective way to buy and sell properties, announced that it has secured over $1.1 million in funding from investors. The company will use the proceeds from this funding to expand its go to market strategy and enhance operational capacity. “This is an important milestone for our Company, one that validates both our technology and business model,” commented Tom Furey, managing partner of Countdown to Buy. “We are excited about expanding our relationships within the real estate community. In addition, by expanding our platform we can leverage the efficiencies of our model and further benefit the leading banks and servicers with which we are partnering.” Founded in 2008, Countdown to Buy uses a patent pending technology that automatically matches buyers and sellers in a real estate transaction through a time-limited process that reduces the property’s list price one percent per day. Confidentially submitted offers are systematically compared to the daily price and when an offer matches or exceeds that price, the offer is automatically accepted and the contract process is initiated. Through the company’s Web site, www.countdowntobuy.com, property listings can be researched, showings can be arranged and offers can be submitted. “The real estate market continues to undergo significant change and the foreclosure market has become the first place to look for many potential home buyers," commented Jim Hodson, chief executive officer and founder of Countdown to Buy. “With the majority of properties selling as is, buyers need 100% transparency, trust, and unbiased information throughout the home purchase process. Countdown To Buy’s online real estate platform eliminates negotiation and mitigates uncertainty surrounding the foreclosure market, essentially unlocking foreclosure opportunities for home buyers.” Countdown To Buy’s flexible platform is equally capable of supporting foreclosures, short sales and traditional property transactions. Recent company developments ► In November 2009, the company entered into an agreement with a leading nationwide servicer of residential mortgages for its initial pilot program for properties located in Connecticut, New Jersey and New York. ► On Dec. 8, 2009, the company launched its online real estate marketplace that allows qualified homebuyers to purchase foreclosed properties in a uniquely efficient and transparent manner. For more information, visit www.countdowntobuy.com.
Published
Dec 16, 2009
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