Crypto Real Estate

The Future of Real Estate

A SMARTER AND MORE SECURE WAY TO BUY AND SELL YOUR ASSETS

How Crypto Real Estate Transactions Work

Fortunately, automation is taking over the world, and Propy is bringing this technology to the public via the property purchasing process. With the help of automation and blockchain technology, the whole process of buying property on Propy is transparent and straightforward.

The process begins with a buyer finding a property on the listing platform. Just like Zillow, Redfin, and other real estate listings, Propy aggregates data from MLS.

All you have to do is to go on Propy, select your desired property, choose an agent, and make an offer.

Propy automatically generates the purchase and sale agreement, and it performs ownership verification through a third party. The Offer gets signed electronically by all participants. Once all parties provide their signatures, the purchase agreement gets encrypted, and it is recorded on the blockchain.

  • The title agent uploads the title report so that both the buyer and the seller can sign it online.
  • In addition to the title report, the seller’s agent uploads disclosure documents so that the participants can sign them.
  • The title agent uploads separate estimates, called the Settlement Statements, to the buyer and the seller. After both parties sign them, the title agent provides an escrow bank account, thus avoiding the risk of e-mail and wire fraud.

The buyer has fiat and cryptocurrency options for payment. After the payment form is automatically generated and the amount is processed, Propy marks the payment as received on the smart contract.

At this final step, the buyer receives the officially recorded deed with the blockchain address on it. The records are kept at the municipality and on the blockchain. Because the deed is recorded on the blockchain, the buyer has an unhackable proof of ownership.

Since everything is recorded on the blockchain, there is no opportunity for fraudulent behavior in the transaction process. Additionally, with Propy’s automation features, sellers and buyers save money on fees.

The real estate industry has put off this evolution for years. However, with Propy, this trend is about to change. As technology develops, the process will only get better.

Work with Mick and Maggie

We offer the highest level of expertise, service, and integrity. Specializing in Luxury Homes & Investment Sales, Mick & Maggie has amassed a Rolodex of clientele that reaches far internationally. They pride themselves on ensuring their clients the highest level of success in all of their real estate ventures. Whether it’s your next investment condo, your first property, or your retirement villa, Mick & Maggie are here to serve.

Follow Us on Instagram