Party Requirements

Every party added will be through the same exact approval process as the opening packet, via the community deal verification

The licensing status of professionals involved in real estate transactions, including real estate agents, escrow companies, inspectors, and appraisers, is transparent and accessible to the public by the state they operate in. This means any member of the community can verify the current licensing of these professionals at any given time. This public access ensures transparency, allowing individuals to confirm that the professionals they are dealing with are properly licensed and authorized to perform their respective roles.

Resident Requirements

  • Income History: Applicants need to demonstrate at least one year of stable income, verifying their ability to consistently meet rental payments.

  • No Felons.

  • Owner Occupancy: This purchase must be primary occupancy and not a rental property.

  • Debt-to-Income Ratio: A maximum debt-to-income ratio of 50%, as defined per 2023 Fannie Mae's guidelines, is required to ensure residents can comfortably manage rent alongside other financial obligations.

  • Credit Score Requirement: A minimum credit score of 500 is necessary, ensuring a basic level of credit responsibility.

  • Financial Reserves: Residents should have at least two months of rent saved as financial reserves, providing a safety net for unforeseen circumstances.

  • Ethereum Address: An Ethereum address is required from each resident to submit the YIMBY bid, recieve YIMBY each month, and hold the bond for the optimistic oracle.

Real Estate Agent Requirements:

  • Brokerage Details: Information about the affiliated brokerage.

  • License Number: Proof of professional licensing.

  • Transaction History: Documented history of past real estate transactions.

Inspector Requirements:

  • Licensing: Must hold a valid inspection license.

Appraiser Requirements:

  • Licensing: Must hold a valid appraiser license.

Property Management Requirements:

  • Licensing: Must be a licensed real estate agent or broker.

  • Long-Term Commitment: Signed contract with Theopetra Network State for every property managed.

  • Identity Verification: Signed identity verification and wallet confirmation via a notary.

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