Transacting with your Property

This page outlines the steps involved in listing, viewing, and purchasing properties on Title. Whether you're a seller or a buyer, Title provides various options to facilitate yourreal estate transactions, from auctions to direct offers and optional broker assistance. Here’s a step-by-step guide to navigating our platform, ensuring a transparent and efficient process on Ethereum.

1. Listing Property for Sale

A property owner lists their property on Title's Marketplace, choosing from selling formats such as auctions, "buy it now" options, or bids and offers.

2. Schedule Buyer Walkthroughs (optional)

On Title, you can book property viewings by paying a fee for someone to open the property and show you around. During this stage, selecting a broker to assist you is optional but available if you prefer.

3. Demonstrating Buyer Intent

An interested buyer shows their commitment by agreeing to the contract terms and placing earnest money. This deposit locks the property, preventing other offers and ensuring the buyer’s exclusive opportunity to proceed with additional walkthroughs and evaluations.

4. Selecting Property Services

The buyer selects required services through Title's Property Service Marketplace. Options include title searches, insurance, appraisals, inspections, and lender services. Broker use is also available but not required.

5. Service Providers Conduct Tasks

Service providers carry out their designated tasks and upload the results to the blockchain, linking them to the property's token as a permanent record. The steps involved may include:

• Finding lenders and obtaining approval

• Scheduling property inspections and appraisals

• Conducting a title search

• Obtaining title insurance

• Scheduling additional walkthroughs for the buyer

It's important to note that the necessity of these steps can vary. Some or all of these steps may be required, depending on whether the buyer is using a lender or paying in cash.

6. Completing the Transaction

Once all services and mortgage checks are complete, Title's marketplace processes the transaction automatically. The seller receives the funds instantly, and the property token and Title are updated and sent to the new owner. Up until any legally permissible period, the buyer can choose to withdraw from the transaction by initiating a request through the Title user interface. If the buyer opts to withdraw, they forfeit the earnest money deposited earlier. Additionally, the buyer can conduct a final approval to purchase the property, after which the transaction becomes irreversible.

7. Physical Key Transfer

The buyer can choose a key transfer service. This can be handled by the seller, the buyer, or a trusted third party, as specified in the contract to prevent surprises. This might involve direct handover or using a service provider to deliver the keys.