Sale of Real Estate

In order to achieve the successful sale of real estate. Each real estate subject has to meet the listing conditions, the real estate sales will be carried out in accordance with market retail, community auction, and guaranteed acquisition in turn, until the real estate is successfully sold. Both community auctions and guaranteed acquisitions are only for platform NFT holders, and those who participate in guaranteed acquisitions need to pay the full deposit in advance. If no one participates in the guaranteed purchase and the sale is unsuccessful, the platform will repurchase the property at the guaranteed purchase price and sell it for a second time.

Assuming a house purchase and renovation cost a total of £350,000, the estimated retail price is £500,000. The first stage is to list the property on the market for 500,000 pounds. The sales cycle is 60 days. If the sale is not successful within 60 days, it will enter the second stage of community auction. The property is not auctioned at an initial price of £500,000 but at a reduced price, until the price falls to the guaranteed minimum purchase price of £440,000, then it is automatically sold to the guaranteed buyer.