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USA Real Estate Blog

Rent payment, housing purchase and other ways of property tokenization

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In the first and second parts of the IAT project review, we learned that Instant Assets Tokens are tokens that, combined with the platform of the same name and native NIAT tokens, tied to a particular real estate market and a specific national currency, allow you to tokenize real estate, reducing costs, saving time , security and protection against fraud during the conduct of operations with real estate. In this final article, we have to find out exactly how the IAT solution can actually be applied in practice.

Buying, selling and renting real estate

First of all, the IAT solution is aimed at using the IAT platform and NIAT tokens to perform basic operations with real estate — purchase and sale and lease. It all starts with the fact that the owner of the premises or his agent will have to use the platform to publish an announcement about the sale (lease) of real estate, paying for such publication using NIAT tokens, and to find a buyer (tenant) among all participants of the platform.

After the counterparty for the operation with real estate is found, the transaction can be completed, after which the relevant information will be placed in the locker without the possibility of unauthorized changes. The same data can be used by other platform participants, carrying out other operations with the same real estate object or the same counterpart.

NIAT tokens can be used by the parties to implement and receive a rental payment or a payment for the purchase of a property, so payment and receipt of funds will be made instantly. Therefore, the platform can be effectively used for renting housing, renting an office or buying a room for a restaurant.

Payment of intermediary services

Since real estate transactions are inherently not so simple, often, in addition to the owner of the real estate object and the client (buyer, lessee), other third parties are involved — asset management services, lawyers and lawyers who provide tax advice and legal services , as well as realtors, agents and brokers, who help the parties to the transaction in the process of finding a counterparty and processing documents.

First, the solution of the IAT platform is to collect all these participants in one place — on the IAT web portal, through which the user can find any suitable specialist. Secondly, NIAT tokens can be used by platform participants to pay for the services of an appropriate service, lawyer, lawyer, realtor, agent and broker.

Thus, in the process of concluding a tenancy agreement, the tenant will not only rent the owner of the apartment or house, but also the realtor who has acted in his interests, while using the NIAT tokens attached to the local national currency.

The same way can be paid for and services of a lawyer who conducts legal advice regarding the payment of taxes and real estate transactions. All that is necessary for this is that such a lawyer was one of the participants in the IAT platform who has a corresponding wallet to receive NIAT tokens.

Furnishing of premises

Do not forget that the IAT web portal will unite as many categories and real estate market participants as possible, which include not only the parties to transactions, asset management services and intermediaries, but also various kinds of real estate-related services, such as, for example , services for furnishing of premises.

In such situations, for example, when a buyer of an immovable property buys an empty living space or places an office for which there is no repair and furniture, he will be able to take advantage of the IAT’s web portal to find an appropriate service offering repair services and furnishing of premises. Payment for materials, goods and services of such services will be carried out using NIAT tokens, which will ensure payment speed and security of cooperation.

Partner search

As you could already understand, the real estate market is a lot of different categories of participants from homeowners to realtors, from lawyer consultants to repair services to furnishing services. All these participants can be integrated within the IAT platform, which will have direct access to each other, which will create excellent conditions for establishing partnerships.

As an alternative, the authors of the IAT in their technical documentation give an example of a laundry network that will interact with the owners of premises to establish in their part of laundries and increase the number of offices. Now the participants have to wait until the beginning of 2019, when the web portal will be launched, and in the next few years the IAT solution will spread across all real estate markets.

To learn more about the IAT project, follow the links:
Website : https://www.iatokens.com/
Whitepaper : https://iatokens.com/docs/IAT%20WHITEPAPER.pdf
Twitter : https://twitter.com/IA_Tokens
Facebook :https://www.facebook.com/IATOfficial/
Telegram : https://t.me/iatokens

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