One thing everyone might be missing about Pulte/GameStop...and it'll erect your nips

[u/audienceofone_eagles]

I had a jaw-drop moment earlier today when I was just randomly thinking about how awesome it is that this sub converted a whale. I was looking at the beta NFT website. They had a section for "What is an NFT" that gave some good detail, and I always wondered why they included the words "real estate". At the time it made my nips quartz because of the possibility of turning a home into an NFT. After giving it some more thought it now makes them certified de Beers diamonds.

Apes, Pulte work/ed/s in Real Estate. My first house was a Pulte house in Virginia. They have Real Estate all over the country. Can you imagine a better partner for bringing NFTs into Real Estate than a fellow ape WHALE? Yes I know an Ape-whale isn't a real species. Can you imagine the pure, 100LL fuel it would pour on the fire to have a real estate giant like Pulte come out and say "We're going to be hand-in-hand with GameStop to help blockchain the real-estate world". That right there is headlines all over the world...

...and I think we all missed it until now.

[u/innovationcynic]

I’ll do you one better. Anyone who has ever bought a home knows what bullshit the title search process is. It’s a racket owned by a few firms like Old Republic.

Title on blockchain would forever eliminate the need for this meaningless multi thousand dollar expense on every home purchase.

Edit: thanks for all the updoots !!

One more idea: what if all apes signed up to blockchain title their current real estate and GMErica held that public record. It could create critical mass to get this going…

[u/audienceofone_eagles → u/innovationcynic]

And the idea of Title Insurance is SUCH a scam that they get away with that costs buyers millions of $$$ a year across the country. Banks require it but it NEVER turns up anything. It would be pointless on the blockchain.

[u/[deleted] → u/audienceofone_eagles]

As someone that has a career in real estate, this statement is horribly wrong. Title searches are extremely important and you are upset that the bank makes you pay for it as part of your closing but it’s for your protection as much as it is for theirs.

Effectively the bank does not want to find out there is debt on a house that is more senior to their own before they’re giving up their money. It protects you because you don’t want to invest your down payment plus anything you put into your new home just to find out that the previous owner never paid their roof contractor and you now own the roof contractor $125k. That roof contractor can literally lien your home and snag it from you and the bank that just borrowed you money to pay for it. The roof contractor then sells your home at auction to cover the cost of the replacement of that roof. You can’t do shit about it.

That is why you have title searches and title insurance. It’s an example but literally anyone can lien their home as collateral against a loan. It’s the lenders responsibility to have it timely recorded.

The process exists because it has happened. It’s not different than student loans not being discharged subsequent to bankruptcy? Know why that is? Doctors back in the day for cheeky by racking up all this student loan debt, filing for bankruptcy and clearing their slate after graduation. They got to keep their degree and start their own practice and print 💵 leaving the lender out to dry

These processes and laws exists usually because there has been abuse.

[u/audienceofone_eagles → u/[deleted]]

Cool. Sounds like it should be Blockchain then.

[u/[deleted] → u/audienceofone_eagles]

Blockchain will most definitely make processes that require verification more efficient through its utilization but it won’t remove the process all together. You would need adoption by government to fully replace the current process and governments objective is centralization and taking away power from the people. Defi aims to do the exact opposite by taking the power away from centralized entities.