Well-renowned industry disrupter Propy recently completed the first real estate transaction in Vermont, performed entirely on Blockchain, the company announced.

About Propy

Propy is a property listing platform, transaction platform, and decentralized registry that helps eliminate fraud and accelerate real estate transactions.

In 2015, CEO Natalia Karayaneva founded Propy after being constantly frustrated by real estate transactions; Karayaneva believed these transactions all over the country were too time-consuming, too costly, and ripe with fraud.

Karayaneva saw blockchain as a way to solve those very problems and open doors for buying and selling internationally.

The Details

The groundbreaking Vermont transaction—the first of its kind—has the industry buzzing about the potential this brings to the world of real estate transacting.

Both parties involved in the Vermont transaction completed three distinct tasks, all on Propy’s blockchain—transferring payment by way of cryptocurrency, completing a title search and due diligence, and finalizing the transaction.

While the accomplishment is more than noteworthy, many real estate professionals may be unclear as to what exactly blockchain is and does.

What is Blockchain, Exactly?

Blockchain aims to redefine how both day-to-day and large-scope transactions are made.

Originally created a decade ago in support of Bitcoin, a cryptocurrency, blockchain has grown into a multi-million dollar spectacle seemingly overnight. Hundreds of companies, millions of fortunes, and billions of investment dollars have been gained and lost at the hands of Blockchain, which allows for individuals and corporations alike to transact without the need for an intermediary.

In other words, blockchain creates an A-to-B path for both seller and buyer without the need for credit card service companies, banks, stock exchanges, and government organizations—all of whom can contribute to monies moving more slowly and being less liquid.

While blockchain is a beacon of innovation, real estate is not exactly an industry known for keeping on the cutting-edge of technological growth and change. In many ways, real estate is far overdue for innovative and fresh methods of transacting. Blockchain could pose a perfect solution going forward, but we don’t see it becoming commonplace for years to come.

At Property Debt Research, we’re always on top of the latest technology and trends like blockchain. To keep up with industry trends and news, continue to visit our website!

On February 14, the Florida Department of Financial Services revised and replaced their recent interpretation regarding third party fees.  Per the new DFS statement “Title agencies are permitted to charge the third-party fees as long as the consumer has been notified.”

Thank you to the FLTA for their immediate action and commitment to all title insurance agents and agencies.

The updated guidance can be found at the link below:



Property Debt Research (PDR) will continue to follow DFS guidance on third-party fees. Should you need an immediate solution for these guidelines, PDR has a Pay Outside of Closing option for Municipal Lien searches that can be implemented at your request.

Meanwhile, while the underwriters and other members of the title industry work with FLTA to gain additional clarification on this guidance, PDR has already begun developing an advanced automation solution to be implemented once the guidance discussions are finalized.

PDR’s solutions provide the ability for your seller/buyer to pay for their Municipal Lien search outside of the closing and save you from increasing your closing fee due to third party fees.

Please feel free to contact our Client Relations team at (877) 543-6669 or orders@propertydebtresearch.com should you have any additional for questions of additional information regarding our existing Pay Outside of Closing option.

On June 15, 2017, the Florida HOA/COA Estoppel Certificate Reform bill – SB 398, was signed into law. The new law provides both the buyer and the seller with accurate information regarding any assessments, violations, or outstanding fees on the subject property. The new law will go into effect on July 1, 2017.

An HOA Estoppel Certificate or Estoppel Letter is required for each real estate closing which involves a property that is a member of a Homeowners Association or HOA/COA.

Prominent Features of the New Law

The HOA must designate on their website a person/entity for contact and include a street or email address for receipt of a written Estoppel request. It further provides for a cap on fees the association can charge for the Estoppel Certificate, as well as a standardized form of the estoppel certificate.

Specific revisions to the Fees allowed include:

  • The fee cap for owners that are current on their assessments is $250
  • If the owner is delinquent on assessments, an additional charge of up to $150 can be charged
  • If a Rush is required, a charge of up to $100 can be added for delivery within three (3) days

The provisions of the new law, HB 483 / SB 398, include specifications that require an Estoppel Certificate be provided in 10 days and be valid for a minimum of 30 days. If a title agent has prepaid for the estoppel fee and the closing does not occur, the association must refund the fee to the title agent upon written request within 30 days of the scheduled closing date and include reasonable proof that the closing did not occur. The association must reimburse the agent within 30 days after receipt of the refund request.

These new features will hopefully provide faster response times, increased transparency, and a more affordable fee structure.

For more detailed information about the HOA/COA Estoppel Certificate Reform Legislation, please visit:

Florida HOA Estoppel Certificate Reform SB 398

Standardized Estoppel Certificate Language, Florida Land Title Association FLTA


The Consumer Financial Protection Bureau (CFPB) has provided numerous online resources for information on the upcoming TILA / RESPA Integrated Disclosure Rule (TRID) changes.US Capitol-Building-TILA-RESPA-TRID

For a great deal of CFRB Information as it relates to TRID visit:

TILA-RESPA Integrated Disclosure rule implementation – Numerous Guides, Forms & Sample Forms

To narrow your search, review:

Loan Estimate – Sample Fixed Rate Loan:

Closing Disclosure – Fixed Rate Sample Loan:

If you are looking to purchase a home in the near future one of the most Frequently Asked Questions is:

Will the New Mortgage Disclosures Delay My Closing?

The date for Implementation of the CFPB is October 3, 2015



US House Representatives and industry professionals ask for Implementation Delay and “Hold-harmless” period through the end of 2015 for implementing the new Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures (TRID) rule.


CFPB TRID Implementation Date Official: October 3, 2015 >>Click to learn more

CFPB’s Proposed TRID Implementation Delay Receives Strong Industry Support.
Read more: CFPB Proposed Delay

and here: ALTA Statement on Proposed TRID Delay

CFPB says they will be “sensitive” to industry good-faith efforts.  Many feel uneasy about vague language.  Read more:  Consumer Finance Update

Find out more at:
ALTA: TILA-RESPA Integrated Disclosures (TRID)

CFPB says they will be “sensitive” to industry good-faith efforts.  Many feel uneasy about vague language.