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An overview of Realium and how it works. This section gives a high level overview of the features of the marketplace, tokenization, and finance projects of the application.
This overview covers the basics of the application.
- 1.Property acquisition
- 2.Property tokenization
- 3.Adding the property to the offering circular
- 4.Onboarding of property
- 5.Primary sale of property
- 6.Secondary sale of the tokenzied shares.
The shares of the property are held by a custodian who oversees the initial creation of the tokens. Tokens are then sold to investors (to date, only accredited investors) who in the future would be able to trade them according to applicable regulations. In this setting, the issuer would have complete transparency as to the ownership of each token at any point in time. Information, payments, and request for votes could be transmitted to all token holders simultaneously through their blockchain address. Investors would be able to achieve greater diversification and customizability simply by purchasing property-specific tokens.
InvestorsAnyone looking to participate in Realium's marketplace.
1. Sign Up
2. Property Search
4. Smart Contract
5. Due Diligence
Users will begin by signing up on the platform to add their personal information. The sign up will include a KYC and AML verification process to ensure the users can participate on the platform. While this step will require a verification process before being able to make any purchases on the platform, all assets will still be viewable on the platform before sign up.
Users will have access to real time data in their property search, in addition to knowing the exact values of homes without the need for an appraisal. This makes the property search much easier on buyers.
Users will be able to make offers in real time online. This eliminates the paperwork of creating an offer letter and clearly states the buyers purchase power.
Both parties digitally sign the smart contract (agreement), which includes details such as purchase price and property details. The smart contract takes all of the data stored on the blockchain to generate a contract and then verifies that contract with the buyer and seller through signatures.
The buyer will have the period of time agreed to in the contract to conduct any in person due diligence on the home. Overall this process is less than satisfactory for users because they often find out all the worst problems in the home.
The buyers will have a final opportunity to review the details of the transaction before making their final decision to finance.
Once the financing clears, the User moves on to the final step where the property title details are time-stamped and added on the blockchain, along with other documents and maps. This creates a secure, transparent, and verifiable proof of ownership.