Case Study: Real Estate Transaction

Introduction

This case study outlines the need for and implementation of a digital communication solution for real estate transactions. Real estate transactions involve the exchange and management of numerous sensitive documents. The process can be complex, insecure and inefficient. This case study examines how IURIO makes document exchange during real estate transactions more efficient, secure and transparent.

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Background information

Real estate transactions, especially in property development projects or apartment building purchases, are complex due to the large number of stakeholders involved (sellers, buyers, notaries, lawyers, tax advisors, banks, investors) and the exchange of sensitive documents. Compliance with the General Data Protection Regulation (GDPR) poses a particular challenge here.

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Task

1. Protection of sensitive information: Real estate transactions require the exchange of many sensitive documents. Compliance with the GDPR and the protection of personal data, such as tenant lists and rental agreements, are essential.
   
2. Unmanageable correspondence: Exchanging information by email harbors risks such as loss of information and misplacement, which can be expensive or jeopardize the deal. In addition, emails can easily be intercepted and misused.
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3. Transmission of large files: Plans, renderings and many rental contracts lead to bulky transmissions. Insecure tools can lead to data loss due to undelivered shipments and delays, which can hinder the purchasing process.
   
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Solution

IURIO offers a comprehensive solution that covers both contract negotiation and closing. The most important features include:

A. IURIO data room:

1. Secure data and information exchange during the entire real estate process. IURIO uses full client-side encryption. This means that all data is not only encrypted during transmission, but also on the server and therefore cannot be viewed even by IURIO employees.
2. Documents can be edited simultaneously and access managed separately.
3. Large volumes of data are exchanged securely and in compliance with data protection regulations.
4. All activities are recorded, so there is an audit trail for every user and every document.
5. The document versions are secured via a blockchain and can no longer be manipulated.
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B. Qualified signature:

1. Purchase offers and contracts can be signed more quickly using a qualified electronic signature, which speeds up the process up to the purchase contract with the notary and makes it more secure.
2. The notary can be consulted directly in IURIO and the entire notarial deed can be carried out digitally via IURIO.
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C. IURIO Taskboard:

1. The task board is particularly useful for managing property development projects, but also for smaller processes.
2. It enables efficient distribution of information and tasks, minimizes errors in planning and approval matters and therefore saves time and money.
3. Management of property development projects in accordance with BTVG: Overview of customers/buyers and open tasks.
4. Status display: Efficient distribution of information and tasks within the team and stakeholders.
5. Quick assessment of projects: Better and faster purchasing decisions.
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Conclusion

The use of IURIO leads to a more efficient, secure and transparent processing of real estate transactions.

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