Own Real Estate at the Push of a Button
HouseBit is an easy-to-navigate online platform that reduces the complexity, cost and risk of buying a home or investing in real estate, by providing you with all the tools needed to buy, maintain and sell real estate with most transactions being completed with just a click.
HouseBit is an easy way to buy any kind of property, including luxury property. Once you are approved as a HouseBit buyer, all you need to do is browse through the HouseBit inventory of properties, which are already inspected and financed. Then just click to buy. Everything is already done for you by HouseBit and you can take possession quickly – usually within 24 hours.
After that, HouseBit manages everything on your behalf:
- Mortgage payments
- Tax payments
- Utility payments
- General maintenance, etc.
You just pay one total monthly fee for all property obligations for as long as you want to keep your property. You can live in your property, hold it as an investment, rent it out or make it available to short term online rental services.
HouseBit can also be your rental property manager and apply the rent to your HouseBit fees. And if you want to sell your property, you simply place it for sale on HouseBit where it becomes available to another HouseBit buyer. It’s just as easy as buying on HouseBit.
Once the transaction is complete, everything is immediately transferred to the new owner including utilities, taxes and mortgage.
How does HouseBit work?
HouseBit simplifies and automates almost everything related to buying a home or investing in real estate by using a virtual purchase environment. This environment encapsulates the purchase into one all-inclusive transaction instead of having to complete a myriad of complex, costly and time-consuming tasks. After the purchase, the property then stays within the capsule to facilitate all ongoing tasks such as payments and maintenance. And if you want to sell the property, HouseBit uses the same capsule in the same virtual environment to simplify the sale.
HouseBit uses a real estate mechanism called a “Contract for Deed” which streamlines the purchase process. Under a Contract for Deed, the property lender, through HouseBit, maintains title to the property until all payments are completed on the loan, at which time the buyer automatically receives full title to the property through a transfer of the deed. This transfer of deed is recorded on a blockchain in what is known as a smart contract. The smart contract ensures that the transfer of deed will occur as stipulated and the blockchain provides a safe and unalterable record of the “smart contract”.
The buyer under Contract for Deed is still an equitable owner of the property and the contract is recorded with the local county registry. Also, any equity that accrues on the property upon sale goes to that buyer as long as all payments are up to date.
HouseBit has an experienced and reputable team of professional partners for all legal, title and financial services. Even though HouseBit does all the work, you can always have your own attorney and/or accountant review your HouseBit transaction.
And for your protection and peace of mind, all HouseBit properties come with a 1 year warranty covering everything except normal maintenance or repairs.