BUY MY HOME WITH BITCOIN
Buying real estate with ALL bitcoins is similar to that of buying with All Cash however, bitcoins must be converted to paper money to effect the transaction. This means that we need a money exchange so we convert bitcoins into paper dollars. Additionally, we need a payment systemto enable us to transfer money as well as make payments to all parties involved.
HOW IT WORKS
Buyers would need to register or sign up on the Ole Platform. They will be required to provide their personal information as well as their crypto wallet information. The Ole Platform would then verify the funds in the wallet, confirm its validity as well as making sure that there is sufficient amount funds to cover all escrow costs and fees. In addition, the Ole Platform will perform security screening like KYC (know your customer), and AML (anti-money laundering) to ensure that the funds as well as the customer meets Federal requirements. Once the screening is completed and the funds passes the screening, escrow would be notified. Ole Platform will wait until escrow gives the funding demand. Once this is recieved, the Ole Platform would immediately convert the bitcoin inot dollars and instantly sends it to escrow.
If bitcoin is used as down payment money, the process is the same as described above except that a "Letter of Good Standing"of the Buyer's funds will be sent to the Buyer's lender. This letter will allow the buyers lender to proceed with the buyer's loan. Once escrow gives the Funding Demand Request for the buyers down payment, Ole Platform will immediately convert the bitocoin and transfers it to escrow.
THE REAL ESTATE PROCESS
The real estate process Does Not Change. It remains the same.
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