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Land Sale over Periodic Payments

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Proposal Details

Author0xd0b4…51bc
PublishedJan 06, 2022 15:13
Voting beginsJan 06, 2022 15:13
Voting endsJan 13, 2022 15:13
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Description

I am looking for a smart contract that allows the sale of land over a period of payments. For instance, I own a piece that I am looking to sell for 12,000 mana. I have made an agreement to sell it for 1,000 mana per month for 12 months. During the 12 months, as long as payments have been made, the buyer can be the operator of the land and once the final payment is made they receive the transfer. If they miss a payment or two (subjective), the land stays with me. This is already done in the real world and I think it will open up land purchases to people who dont have all the capital up front while also incentivizing investors like my self. Has anyone seen this or have any guidance on creating it?

7 Comments

RizwanKhanSep 19, 2023

[quote="dao, post:1, topic:5092"] I am looking for a smart contract that allows the sale of land over a period of payments. For instance, I own a piece that I am looking to sell for 12,000 mana. I have made an agreement to sell it for 1,000 mana per month for 12 months. During the 12 months, as long as payments have been made, the buyer can be the operator of the land and once the final payment is made they receive the transfer. If they miss a payment or two (subjective), the land stays with me. This is already done in the real world and I think it will open up land purchases to people who dont have all the capital up front while also incentivizing investors like my self. Has anyone seen this or have any guidance on creating it? * Good Idea * Bad Idea * Invalid question/options [/quote] Hey there! Your idea sounds pretty interesting, and it’s definitely something that can be implemented using a smart contract on a blockchain platform like Ethereum. It’s essentially a deferred payment agreement with conditional ownership transfer based on [subscription payments](https://www.subscriptionflow.com/subscription-payments/), which is quite similar to how traditional real estate transactions work with mortgages

daoJul 19, 2022

Land Sale over Periodic Payments This proposal has been PASSED by a DAO Committee Member (0xfe91c0c482e09600f2d1dbca10fd705bc6de60bc)

parimalFeb 04, 2022

Hi, We would like to submit a solution to this if this is still open. Regards

MatimioJan 10, 2022

I would suggest if you want to pursue this to submit a Grant Proposal to create a 3rd party dApp that manages this process...

JadjadJan 08, 2022

Escrow for land transfers, sound reasonable to me. I think that enforcement would have to be handled by some sort of escrow entity for the actual transfer of the asset/mana. During the escrow period, the buyer could be given management rights to the land parcel by the current owner. If, by the end of the escrow period, the total purchase price has not been met, the assets are returned to their original owners.

BETJan 07, 2022

I think this is coming soon anyway

daoJan 06, 2022

Land Sale over Periodic Payments This proposal is now in status: FINISHED. Voting Results: * Good idea 59% 566,232 VP (19 votes) * Bad idea 41% 394,757 VP (7 votes) * Invalid question/options 0% 0 VP (0 votes)