Deal Verification

Citizen Verification:

• In the Theopetra Network State, citizens, as the owners of the real estate, have the most incentive to ensure the integrity and accuracy of real estate transactions, although anyone can verify or dispute the purchase data.

• Anyone can verify the accuracy and completeness of the data presented in transaction packets. They are not involved in making key decisions about where to buy or the specifics of the transactions. That is already done through the preset property underwriting guidelines.

• This process is designed to ensure that all information pertaining to real estate transactions adheres to the highest standards of accuracy and transparency. It is a check-and-balance measure rather than a decision-making authority.

Opening Escrow Approval Process:

• The agent submits the escrow opening packet on IPFS and the optimistic oracle for citizen verification.

• The deposit amount and agent wallet address are identified in the opening packet.

• If not flagged for inaccuracies within the 72 hour challenge period, the transaction is automatically approved.

• Upon approval, the deal moves to negotiations with the seller, and any negotiated terms are uploaded in a similar manner, just with a 24 hour verification period.

• Once signed and ready, funds are pulled from the treasury into escrow to begin due diligence.

Closing Escrow Approval Process:

• The underwriter signs and submits the escrow closing packet on IPFS and the optimistic oracle for citizen verification.

• A 3-day challenge period is provided for the citizen to review the packet.

• Following approval, the remaining funds are approved for withdrawal to escrow and the seller.

In summary, Theopetra's verification process plays a pivotal role in ensuring the accuracy and integrity of data within real estate transactions, aligning with its strategic objectives for consistency and predictability. This approach to verification sets the stage for Theopetra's Property Management Framework.