Problem › Solution

Prepay ensures that all parties in real estate purchases are secured from fraud. Earnest deposit money hold many risks: such as: fraud property, money taken. PPW gives solutions for these problems

Cases

Money Warranty

Usually, buyers are concerned about the security of the funds that they must send to unknown persons when concluding a Reservation Agreement without the participation of a notary or attorney.

Solution

A buyer sets up a reservation agreement with earnest money via PrepayWay platform. The deposit is released to property owner only after confirmation of the notarial transaction. If one of the parties to the contract changes his mind, an arbitrator will decide on the case.

Distrust of contracts

When reserving a property abroad without the participation of a notary or attorney, buyers often face the problem of not understanding signed contracts and are concerned about the legitimacy of documents provided by other parties.

Solution

Templates of agreements on the PrepayWay platform are provided by local trusted legal experts to ensure the legitimacy of contracts. Filling in a contract is simple as templates are very specific for country and deal type.

Complexity with interim bank accounts and depositary cells

In some counties before the notarial transaction, buyers must provide a bank check or use the depositary cell to provide a guarantee of full payment for the property. It requires a personal presence of the client and makes purchasing process long and expensive.

Solution

A Buyer transfers full payment amount to PrepayWay system escrow bank account. Orders for further transfers are securely encrypted in smart contract and will be processed only after confirmation of the notarial transaction.

Concern for the deposit

With a short-term rent of real estate abroad, tenants need to book property few months in advance and make deposits. Booking often happens blindly through the Internet, even without seeing the object itself. This causes concern for the need to send money to an unknown party in a foreign country.

Solution

With PrepayWay a client can be calm, since the landlord will receive a deposit only after the tenant enters the object of the lease and the living conditions will correspond to the previous arrangements.

Distrust of contracts

When reserving a property abroad without the participation of a notary or attorney, buyers often face the problem of not understanding signed contracts and are concerned about the legitimacy of documents provided by other parties.

Solution

Templates of agreements on the PrepayWay platform are provided by local trusted legal experts to ensure the legitimacy of contracts. Filling in a contract is simple as templates are very specific for country and deal type.

Misunderstanding of contracts

When booking a long-term lease object abroad, tenants are faced with contracts drawn up not in their own language. Due to a partial or complete misunderstanding of the contract, negative consequences may arise. Solution

Solution

The creation of a smart contract is in clear languages for all parties to the contract. And also, parties can be sure of the correctness of the content of the contract, since templates are provided by local trusted legal experts.

Global Partnership

Many real estate agencies cooperate with other agencies in order to obtain more deals. The subject of intermediation are customers and real estate objects. One of the parties is concerned about the honesty and reliability of the partner, as it practically does not own the current situation with the customer or the object.

Solution

The system of early customer and property owners registration against a specific agency allows cooperating agencies to achieve preliminary relationships before making transactions.

Geographical Issues

When reserving a property abroad without the participation of a notary or attorney, buyers often face the problem of not understanding signed contracts and are concerned about the legitimacy of documents provided by other parties.

Solution

Templates of agreements on the PrepayWay platform are provided by local trusted legal experts to ensure the legitimacy of contracts. Filling in a contract is simple as templates are very specific for country and deal type.

Misunderstanding of contracts

When booking a long-term lease object abroad, tenants are faced with contracts drawn up not in their own language. Due to a partial or complete misunderstanding of the contract, negative consequences may arise. Solution

Solution

The creation of a smart contract is in clear languages for all parties to the contract. And also, parties can be sure of the correctness of the content of the contract, since templates are provided by local trusted legal experts.

Getting on board /Proccess

Getting registered and utilsing PPW tokens is straighforward

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