Buyer Questions
Find simple answers to common questions about making an offer, earnest money, digital closings, blockchain and the future of buying a home.
Can blockchain change how I make an offer on a home?
Yes. Platforms like Propy are already showing how blockchain-backed technology can be used as part of the offer process.
Your agent can submit an offer digitally with the price, terms, contingencies and supporting documents.
The offer can then be tracked as it is reviewed, accepted, rejected or countered.
You and your agent still decide what to offer and how to negotiate.
The technology doesn’t make the decisions—it helps make the offer process more organized, transparent and easier to follow.
Could I see when my offer was sent or received?
Yes. With a platform like Propy, the offer process can be much easier to follow.
When an offer is submitted through Propy, notifications can show when the offer has been:
Sent → Opened → In Review → Accepted, Countered or Rejected
This gives the buyer and their agent a clearer picture of what is happening with the offer instead of simply wondering whether it was received or reviewed.
The agent still handles the offer and negotiations. The technology simply makes the process easier to track.
How could earnest money work in a digital transaction?
With a platform like Propy, earnest money can be sent digitally instead of delivering a paper check or relying on traditional wire instructions.
After your offer is accepted, you can receive instructions to make your earnest money deposit securely online.
The funds are sent to the appropriate escrow account, and the digital transaction can provide confirmation and updates about the deposit.
For example:
Offer Accepted ✓
↓
Earnest Money Submitted ✓
↓
Deposit Received ✓
This can make it easier for you and your agent to know that an important step in the transaction has been completed.
The earnest money is still held through the appropriate escrow process—the technology simply makes sending and tracking the deposit more convenient.
Can earnest money be sent after normal banking hours?
Yes. With a digital escrow platform like Propy, earnest money can be deposited 24/7, including nights and weekends.
For example, Propy documented a transaction where a contract was signed at 9:00 PM on a Friday, and the buyer’s earnest money was deposited just four minutes later.
That means a buyer may not have to wait until Monday morning simply because their offer was accepted after normal business hours.
What happens to inspections and contingencies?
Inspections and contingencies still work according to your purchase agreement. Technology doesn’t take those protections away.
For example, if your offer includes a home inspection contingency, you still have the inspection completed and work with your agent to decide how to respond to the results.
With a platform like Propy, inspection information and related documents can be connected to the digital transaction, making it easier to keep track of this step. Propy has also integrated Inspectify into its platform to help buyers and agents manage inspections more digitally.
You might see the transaction progress like this:
Inspection → Scheduled
↓
Inspection ✓ Complete
↓
Documents ✓ Added to Transaction
↓
Next Step → Ready
Your agent still helps you understand your contractual rights, deadlines and options.
Technology helps organize and track the process—it doesn’t make the inspection decisions for you.
What is a digital closing?
A digital closing uses online technology to complete many of the steps involved in closing on a home.
Instead of everything requiring paper documents and in-person appointments, parts of the closing can be handled electronically.
With a platform like Propy, buyers and other authorized participants can manage documents, follow the transaction’s progress and complete certain closing steps online. Propy also offers online identity verification and notarization through its integration with Proof.
For example, your closing could include:
Identity ✓ Verified
↓
Closing Documents ✓ Signed
↓
Funds ✓ Received
↓
Closing Requirements ✓ Complete
↓
Deed ✓ Recorded
The normal legal requirements for transferring the property still apply. Propy specifically says the deed is still recorded with the local county while an additional record can also be placed on blockchain.
A digital closing doesn’t change what it means to buy a home—it changes how many of the steps can be completed and followed.
Could I sign closing documents digitally?
Yes. Many real estate documents can already be signed electronically, and platforms like Propy bring digital signing into the transaction process.
With Propy, documents can be sent for electronic signature through its DocuSign integration. Buyers and sellers can review and sign documents online as part of the transaction.
For documents that require notarization, Propy’s integration with Proof allows buyers and sellers to verify their identity and complete notarizations online or in person when available and permitted.
For example:
Closing Document → Ready to Sign
↓
Identity ✓ Verified
↓
Document ✓ Signed
↓
Notarization ✓ Completed, if required
You may be able to complete these steps remotely instead of having every document require an in-person appointment.
The legal requirements still depend on the document and where the property is located, but technology can make much of the signing process digital and more convenient.
Blockchain provides the technology. The legal structure determines what the token represents.
Could closing funds be sent digitally?
Yes. Digital closing technology can provide different ways for funds to move through a real estate transaction.
With Propy, traditional buyers can still use familiar payment methods such as ACH or wire transfers. In certain transactions, Propy also supports digital assets such as USDC, Bitcoin and Ethereum through its crypto escrow services.
For example, a buyer using a traditional mortgage could still have the lender send the loan funds to closing and send their required funds using an approved traditional payment method.
A qualified buyer using digital assets may have additional options available through Propy’s crypto escrow process.
You do not need cryptocurrency to have a digital closing.
The important difference is that technology can make the payment and escrow process more connected, trackable and accessible online.
What is a digital deed?
A digital deed is an electronic version or digital record connected to the legal document used to transfer ownership of real estate.
With a platform like Propy, the traditional deed is still recorded with the appropriate county just as it normally would be.
Propy can also create a blockchain record connected to the transaction. Rather than putting your personal information directly on the public blockchain, Propy says it creates a unique digital fingerprint, or hash, that can be used to help verify the transaction and its documents.
For example:
Home Purchase ✓ Complete
↓
Deed ✓ Recorded with County
↓
Blockchain Record ✓ Created
↓
Digital Verification ✓ Available
The county record remains an important part of the legal property record.
Blockchain provides an additional digital record that can help verify information connected to your purchase and deed.
Would my deed actually be stored on a blockchain?
Not necessarily as the entire deed itself.
With Propy’s transaction platform, your deed is still recorded with the appropriate county as part of the normal legal process. Propy then creates an additional blockchain record connected to the transaction.
Propy explains that it can create a unique digital fingerprint, called a hash, for the transaction. The blockchain record is used to help validate documents and does not contain your personal information.
A simple way to picture it is:
Deed ✓ Recorded with County
↓
Digital Fingerprint ✓ Created
↓
Blockchain Record ✓ Recorded
↓
Document ✓ Can Be Verified
Your actual property records still follow the legal recording requirements where the property is located.
The blockchain record provides an additional way to verify information connected to your deed and transaction.
Good to Know
Blockchain real estate technology is continuing to evolve. Propy has also introduced an OnChain Title Registry that can record certain deed-related information on blockchain and connect it to a protected digital deed record.
These newer systems are designed to work alongside existing property-recording requirements as the technology and regulations continue to develop.
Would I still need a title or escrow company?
Yes. Title and escrow still play important roles in a real estate transaction.
Title professionals help research the property’s ownership history and identify issues that may need to be addressed before closing. Escrow helps securely handle funds and other parts of the closing process.
With a platform like Propy, technology can bring more of these steps into one connected digital transaction. Propy even operates its own blockchain-enabled title and escrow services.
For example:
Title Search → Completed
↓
Closing Funds → Escrow
↓
Documents → Signed
↓
Deed → Recorded with County
↓
Blockchain Record → Added
The traditional protections and legal requirements are still part of the transaction.
Blockchain doesn’t simply replace title and escrow—it can provide technology that helps make the process more connected, transparent and easier to verify.
Good to Know
This is an area that could continue to change.
Propy says that when it records a deed on blockchain, it creates a permanent record connected to the title search and title status. Propy says this could help simplify title research during a future sale or ownership transfer.
That doesn’t mean title professionals are no longer needed. It means their tools and the way property history is researched could evolve as more records become digital and blockchain-connected.
Would I still need a real estate agent?
Technology is changing the role of the real estate agent, but it doesn’t necessarily replace one.
Platforms like Propy can already automate parts of a real estate transaction. Propy AI can read purchase agreements, create transaction timelines, track deadlines and help move a closing forward. Its technology is designed to make more of the transaction digital and automated.
A real estate agent can still provide something the technology doesn’t automatically provide: representation, local market knowledge, property guidance, negotiation and help making decisions when something unexpected happens.
For example:
Technology can help:
Track deadlines ✓
Organize documents ✓
Provide transaction updates ✓
Automate routine follow-ups ✓
Your agent can help:
Evaluate the property ✓
Structure your offer ✓
Negotiate terms ✓
Protect your interests ✓
Navigate problems ✓
AI can help manage the transaction. Your agent can help you make the decisions within it.
Good to Know
This is one of the areas of real estate that is developing quickly.
Propy describes its long-term vision as creating “self-driving” real estate transactions for agents, buyers and sellers. Its technology is already automating more of the administrative work that traditionally required people to manually manage each step.
That could continue to change what buyers and sellers can do themselves and what they choose to rely on an agent for.
The future may not be about technology replacing the agent—it may be about changing which parts of the transaction require the agent’s time and expertise.
Could blockchain make buying a home faster?
Yes, technology can help speed up parts of the home-buying process.
Platforms like Propy combine blockchain, AI and automation to reduce some of the waiting and manual work involved in a transaction.
For example, Propy offers:
24/7 earnest money deposits
Real-time transaction updates
Automated deadline tracking
Digital document management
AI-assisted title and escrow workflows
Propy has documented an earnest-money deposit completed just four minutes after a contract was executed, and says its technology can open escrow outside normal business hours.
That doesn’t mean every home purchase will close immediately. Inspections, financing, appraisals, title work and other requirements can still take time.
Technology can help remove unnecessary delays while the important steps and protections of the transaction still take place.
Good to Know
This is developing quickly.
Propy says its digital closing technology has demonstrated closings in as little as 24 hours in some circumstances, and it is using AI and automation to reduce work that traditionally required manual processing.
That doesn’t mean a 24-hour closing is typical or possible for every buyer. A financed purchase with inspections, appraisal and lender requirements may still take considerably longer.
But it shows something important:
The technology isn’t necessarily making people rush through the transaction. It’s trying to reduce the time spent waiting for routine processes to happen.
Is blockchain currently being used to buy homes?
Yes. Blockchain is already being used in real estate transactions today.
Propy has completed real estate transactions using blockchain technology in the United States and internationally. Depending on the transaction, buyers can still use traditional dollars and financing, while blockchain technology works behind the scenes to help record and verify parts of the transaction.
There have also been transactions that use cryptocurrency or other digital assets.
For example, Propy has facilitated:
Traditional home sale → Recorded on blockchain ✓
Home purchased with cryptocurrency ✓
Real estate sold through an NFT structure ✓
Deed recorded with the county + blockchain record ✓
One early U.S. example was a home in St. Petersburg, Florida, sold through Propy in 2022 for 210 ETH, approximately $654,000 at the time. Propy has also documented a traditional Orlando property sale where the deed was recorded with the county while a blockchain record was added to the transaction.
And the technology hasn’t stopped there. Propy continues to develop blockchain title, escrow, crypto-payment, and on-chain real-estate products.
So blockchain real estate isn’t just an idea for the future—parts of it are already being used today.
Good to Know
You don’t have to buy a home with cryptocurrency to use blockchain technology.
A traditional home purchase can still use U.S. dollars, a mortgage, a real estate agent, title and escrow while blockchain operates behind the scenes as part of the transaction record. Propy has specifically described traditional transactions on its platform that use fiat payments and mortgages while settlements are recorded through its blockchain protocol.
At the same time, newer options are developing for buyers who do own digital assets. For example, Propy now works with Milo on a process where eligible buyers can use Bitcoin or Ethereum as collateral for a mortgage without necessarily selling the crypto, while Propy handles blockchain-enabled title and escrow.
What happens if the technology fails or I lose access to a digital account?
Using blockchain technology doesn’t mean your home ownership exists only inside an app or online account.
With a platform like Propy, the normal legal steps of the real estate transaction still take place. The deed is recorded with the appropriate local government office, while blockchain provides an additional digital record connected to the transaction.
Propy also says buyers and sellers can participate in transactions and sign documents without having their own Propy account, depending on how the transaction is set up.
So losing access to a website account would not mean you suddenly lose ownership of your home.
A simple way to think about it:
Your Home Ownership → Does not depend on a password
County Property Record → Still exists
Transaction Documents → Still maintained
Blockchain Record → Additional verification
If you have trouble accessing a Propy account or verification code, Propy provides account recovery and customer support options.
Technology helps support and verify the transaction—it doesn’t make your ownership dependent on remembering a password.
Good to Know
There is an important difference between losing access to a Propy account and losing the private key to a cryptocurrency wallet.
Some newer on-chain real estate products may use digital wallets, NFTs or other blockchain-based ownership structures. Those systems can have different access and recovery requirements than a traditional home purchase using Propy’s transaction platform.
As blockchain real estate develops, buyers should understand exactly what is being stored on-chain, what remains in traditional property records, and what recovery options are available before using a particular product.
Do I need cryptocurrency to buy a home using blockchain technology?
No. You do not need to own cryptocurrency to participate in a blockchain-enabled real estate transaction.
With a platform like Propy, a buyer can still purchase a home using traditional U.S. dollars and, when applicable, traditional mortgage financing.
Blockchain can work behind the scenes to help record and verify parts of the transaction without changing the type of money you use to purchase the home.
For example:
Traditional Mortgage ✓
U.S. Dollars ✓
Title & Escrow ✓
County Deed Recording ✓
Blockchain Verification ✓
Propy also supports certain transactions involving cryptocurrency and digital assets for buyers who choose to use them, but that is a separate option.
You can benefit from blockchain technology without ever owning Bitcoin or another cryptocurrency.
Good to Know
Blockchain and cryptocurrency are related technologies, but they are not the same thing.
Cryptocurrency is one use of blockchain. Blockchain can also be used for things such as verifying documents, recording transaction information and creating a verifiable history connected to real estate.
That’s why a home purchase can use traditional dollars while blockchain technology works in the background.
Crypto-Backed Financing
Milo offers financing that allows qualified buyers to use eligible cryptocurrency holdings as collateral for a real estate loan instead of selling the crypto first.
The cryptocurrency helps secure the loan while the buyer finances the property.
The simple idea: your crypto can help you finance real estate without requiring you to sell it first.
What does using Bitcoin as collateral for a mortgage mean?
Using Bitcoin as collateral means you pledge your Bitcoin to help secure a loan rather than selling it for cash.
You still own the Bitcoin, but it is held or controlled according to the loan terms while the loan is outstanding.
Because cryptocurrency prices can change quickly, borrowers should understand what happens if the value of their collateral falls and whether additional collateral could be required.
How does the Better Mortgage + Coinbase crypto-backed mortgage work?
Better Mortgage and Coinbase offer a financing option that allows qualified buyers to pledge Bitcoin as collateral toward financing their down payment instead of selling the Bitcoin first.
The home purchase uses a traditional conforming mortgage from Better along with a separate Bitcoin-backed loan for the down payment.
This allows an eligible buyer to use the value of their Bitcoin while continuing to hold the asset rather than selling it to fund the down payment.
Do I need cryptocurrency to get a mortgage?
No.
Buyers can still use traditional mortgage options such as conventional, FHA, VA and other available loan programs.
Crypto-backed financing is simply another option that may be available to buyers who already own eligible digital assets.
Do I have to sell my cryptocurrency to buy a home?
Not necessarily.
You could choose to sell cryptocurrency and use the proceeds toward your purchase, but some newer financing options allow qualified buyers to use cryptocurrency as collateral instead of selling it.
The available options depend on the lender, cryptocurrency, property and buyer’s qualifications.
Is a crypto-backed mortgage the same as paying for a home with cryptocurrency?
No. They are different.
When you buy with cryptocurrency, digital assets such as Bitcoin may be used as payment for the property in a supported transaction.
With crypto-backed financing, you use your cryptocurrency as collateral to borrow money while keeping the crypto rather than using it directly to pay the seller.
Curious About the Seller's Side?
See common questions sellers may have about offers, earnest money, digital closings, blockchain and the future of selling a home.
