Prime-Ex Perpetual, a Panama-based real estate company, has announced that it will build a revolutionary real estate ecosystem by tapping blockchain’s true potential.
The concept arrives in light of the real estate industry’s contemporary limitations in offering solutions for peripatetic customers. The traditional real estate solutions are an unfair and poor fit for people who are more mobile than their grandfathers used to be. This lot is either self-employed or retirees with nomadic tendencies, both of which make up the primary target market for Prime-Ex Perpetual’s initial proof of concept.
The platform proposes to achieve efficiencies in the methods by which residential real estate is developed, sold, and financed. Prime-Ex Perpetual has created a novel solution to ownership that packages the individual home and the underlying mortgage inside of the home’s individual private corporation.
When the home is sold, the shares of the corporation are transferred to the new owner, and then the shares of the corporation are held in escrow under terms and conditions of an agreed escrow agreement between the parties.
To further the benefits, Prime-Ex Perpetual offers a unique financing system that turns away from traditional financing terms completely, and picks a guaranteed buyback program instead. This program, as explained in the whitepaper, “effectively cuts out the risk that time holds over the borrower’s head.” It adds:
“Instead of submitting our client to the stick of a prepayment penalty and performance failure, we have incentivized our client with the carrot of a guaranteed buyback so long as they have performed as scheduled.”
Moreover, consumers will not be required to submit income verifications, and they won’t be judged by credit scores in order to be qualified for a real estate loan. Prime-Ex Perpetual will instead rely on asset verification, meaning customers will only be required to prove that they have 24 months of mortgage payments in liquid assets after their down payment.
In the imminent phase, Prime-Ex Perpetual uses blockchain to manage the in-house finance of its real estate system. It is made possible with an institutionalized token, called PEX-Token. The platform will initially use PEX-Token as a means to raise funds for its development. In return, the buyers of PEX tokens will receive 80% of the real estate profits in the form of annual dividend distributions.
“What’s better than owning your own home?” asks John Gilbert, the CEO and Co-Founder of Prime-Ex Perpetual, “owning a home built by a company that pays you profits it makes from each home it sells, each home it finances, and each monthly payment it receives. That’s what we do. If our home buyers become PEX-Token holders, they too participate in our dividend program and they end up winning the most. They bought a quality home and will receive a payment stream for as long as they own PEX-Tokens.”
“What’s even better than this? Owning a home that features a guaranteed buyback program that’s two-thirds better than any other mortgage offer on the market anywhere in the world. Our home buyers can lock in their maximum loss from the front end, mitigating their risk exposure and providing peace of mind. Simply stated, they win!”
PEX-Tokens, after ICO distribution, must be purchased in the open markets thus creating an organic demand for PEX-Tokens from home buyers who wish to receive a discount in their mortgage terms by paying with PEX.
The presale of PEX-Tokens will start from September 18, 2017, and will expire September 30th, 2017 or until their 750,000 bonus token supply runs out. The incentive program available for presale participants rewards them with additional PEX tokens for buying early.
Prime-Ex Perpetual also plans to explore blockchain’s applicabilities in document retentions, verifications, authorizations, and performance history.
Learn more about Prime-Ex Perpetual at www.prime-ex.com, or follow them on Facebook at www.facebook.com/PEXTokens.
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