Property purchase makes for a stressful time. This holds true for both first-time purchasers or a practiced real estate veteran. This is as the process is a disjointed and opaque one. It involves tedious and repetitive documentation. The burden of surprise fees and tasks multiplies the frustration and anxiety. The stress is more so if the property is located abroad. This will involve putting trust on third parties who will locally represent the buyer when it comes to managing unfamiliar and all manual processes.
New tech, easier use
Home buyers in the United States search for their desired information online an overwhelming 95 percent of their time. The Internet is also the first step when they want to buy or sell a property. Blockchain technology is expected to eliminate inefficiencies linked to transactions in the real estate field. A number of US companies are trying to streamline the process. One of them is CryptoProperties. This particular property has no wish to tumble the present pecking order of the real estate industry. Instead, it wants to add value to American real estate through cooperation. It seeks to bring efficiency and transparency to the industry.
Sandy Selman, the co-founder of CryptoProperties, said that his company wants to harness BlockChain technology. He said the company will solve the industry’s multiple pain points in a commercially feasible and practical manner. The technology will facilitate everything needed to buy a house. This will range from the negotiation of contracts to cryptocurrency payment options and also blockchain authenticated documentation. The technology will permit the specific property portal to be involved in customer relationship.
The CryptoProperties platform will have a BlockChain underlay system crafted for managing real estate transactions. It is coded to integrate into any existing brokerage company or property portal website. This will permit the buyer or seller to securely and transparently close any business transaction. The complete transaction can be viewed by all concerned parties. This platform will be a boon for those who want to buy properties in another region or country.
Other than offering increased transparency and creating trust for all involved parties, the platform for transaction management also offers a number of extra benefits. CryptoProperties’ user rated service directory permits underexposed service providers the needed system to be visible to potential new clients. This makes for only necessary queries as the unnecessary ones are weeded out.