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Ryland invests $1 million in online home sales

The Ryland Group, a nationwide homebuilder and mortgage financing company, has invested $1 million into online home sales company iBid. The investment marks a portion of iBid's $4 million first round, which it hopes to close at the end of April. iBid, based in California, provides technology that allows prospective buyers to prequalify for loans, receive virtual tours of the property, and conduct sales online. The technology is used on other real estate-related sites, such as home builder or foreclosure sites.

Dawn Kawamoto Former Staff writer, CNET News
Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.
Dawn Kawamoto
The Ryland Group, a nationwide homebuilder and mortgage financing company, has invested $1 million into online home sales company iBid. The investment marks a portion of iBid's $4 million first round, which it hopes to close at the end of April. iBid, based in California, provides technology that allows prospective buyers to prequalify for loans, receive virtual tours of the property, and conduct sales online. The technology is used on other real estate-related sites, such as home builder or foreclosure sites.