Propy Announces Partnership with Inspectify Bringing Property Inspections Onchain

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Oct 08, 2024, 09:30 ET

MIAMI, Oct. 8, 2024 /PRNewswire/ -- Propy, a leader in onchain real estate transactions, is excited to announce its new partnership with Inspectify, a cutting-edge property inspection platform, designed to streamline the home-buying experience. This partnership brings a key upgrade to the Propy platform, making it easier than ever for buyers and agents to order inspection reports, and extract data from them to feed the settlement protocol —all in one place.

Why Property Inspections Matter for Onchain Settlement

Buying a home can be stressful, and property inspections are a crucial and often confusing part of the process. By integrating Inspectify directly into Propy's platform, inspections are making the already seamless Propy home purchase process even smoother—no more juggling between apps, websites, or losing track of paperwork.

This partnership is particularly significant for the Web3 space, where transparent and secure data flow is essential for smart contract execution. In onchain-based real estate transactions, the accurate completion of inspections serves as crucial oracle data—verifiable information that smart contracts rely on to trigger settlements and closings. This makes it possible to empower automated contract actions, such as finalizing payments or transfers of ownership, based on the verified completion of inspections. This not only streamlines the entire process but also adds a new layer of transparency and trust for all parties involved.

Key Benefits for Buyers and Agents:

One-Click Ordering: Buyers can now easily order an inspection directly through the Propy platform.
Automatic Data Transfer: All the property info gets sent to Inspectify automatically, saving time and reducing errors.
Seamless Payment: Payments for inspections can be made directly on Inspectify's site, which is integrated with Propy's closing platform.
Instant and Life-long Access to Reports: Once the inspection is complete, the report is automatically uploaded to Propy's platform, so buyers and agents can access it immediately and get an AI-generated summary; available after the closing in a secure Propy document storage.

Natalia Karayaneva, CEO of Propy, commented, "This partnership with Inspectify is all about making life easier for our users. By keeping the inspection process within the Propy platform, we're simplifying the home-buying journey and moving property settlements onchain without human off-line and off-chain interactions one step closer to the full potential."

Josh Jensen, CEO of Inspectify, commented, "We've always believed that the home inspection that happens at the time of home purchase is the most robust and complex data set that exists on homes today, but given how analogous the process has been historically, it's nearly impossible to unlock its full potential. Through this partnership with Propy, there is a tremendous opportunity to create more utility and value for homebuyers and ultimately the homeowners they are becoming."

What's Next

The Inspectify integration is live now and available for all Propy users. Continued enhancements to the platform will introduce even more features to help buyers, sellers, and agents navigate the real estate process with ease—including upcoming features like remote notary scheduling.

For more information about the partnership, or to learn how Propy is transforming real estate with blockchain technology, visit Propy Website.

About Propy

Propy is the leading AI and blockchain-powered real estate platform, simplifying the buying and selling of property and bringing real estate transactions online securely and efficiently, from offer to close. In 2017, Propy introduced smart contracts for real estate closing, making the process faster, easier, and more secure for purchase participants, while also helping real estate agents and title companies migrate to closing on blockchain. More than $10 billion worth of U.S. homes have already been minted in the Propy ecosystem. Propy Title and Escrow services are trusted by thousands of users in the US delivering consistent 5-star reviews.

About Inspectify

Inspectify is a leading platform for property inspections, helping buyers schedule inspections quickly and easily. By automating the inspection process and providing instant access to reports, Inspectify is streamlining a critical step in the home-buying journey.

SOURCE Propy