{"id":7561,"date":"2019-10-17T08:30:11","date_gmt":"2019-10-17T15:30:11","guid":{"rendered":"https:\/\/propy.com\/browse\/blog\/?p=7561"},"modified":"2019-10-10T18:32:31","modified_gmt":"2019-10-11T01:32:31","slug":"propy-first-transaction-europe-latvia","status":"publish","type":"post","link":"https:\/\/propy.com\/browse\/propy-first-transaction-europe-latvia\/","title":{"rendered":"Propy’s First Transaction in Northern Europe"},"content":{"rendered":"\n
\"Latvia<\/figure>\n\n\n\n

Even though Propy’s main focus falls on the U.S. market, the company continues to generate attention all over the globe. Propy\u2019s Transaction Management<\/a> Platform has been used to purchase land in Niseko, Japan<\/a>, to register deeds in Vermont<\/a>, and to swap crypto for real estate in Seville, Spain<\/a>. <\/p>\n\n\n\n

Most recently, the platform was engaged in transferring ownership of a former school building and a tract of agricultural land in Latvia. The transaction was Propy\u2019s first in the Baltic country.<\/p>\n\n\n\n

The Property<\/h3>\n\n\n\n

Located in Valka on Latvia\u2019s border with Estonia, the parcel is part of the picturesque North Latvia Biosphere Reserve. The grounds include orchards, a pond, and the Omu\u013ci School. The school was closed in 1975 and has since been put to use as a cultural center, library, post office, dentist office, and canteen.<\/p>\n\n\n\n

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The Buyer<\/h3>\n\n\n\n

Eva Cildermane found the property on Facebook, where it was advertised by a holding company. She did some research and saw potential in the building and its surroundings. \u201cI can call myself old-fashioned,\u201d she said, \u201cas I believe that things should be fixed and repaired, not thrown away or torn down.\u201d<\/p>\n\n\n\n

Eva plans to convert the area into a retreat for busy creatives. She explained, \u201cSometimes all we need is to inhale deeply and then click the \u2018restart\u2019 button.\u201d<\/p>\n\n\n\n

Cildermane speaks from experience. As an entrepreneur, her schedule is hectic and requires extensive international travel. She saved herself additional air miles by relying on the latest in transaction management tech to buy her new property remotely.<\/p>\n\n\n\n

Propy Delivers Speed and Security<\/h3>\n\n\n\n

Propy\u2019s all-in-one design enabled her to manage the entire deal online. All documents, including a formal request to the municipality, were sent and signed electronically. The buyer paid her deposit, remaining balance, and fees via online banking. A notary public confirmed her identity by video conference. Four days later, Latvia\u2019s digital Land Registry notified that their database had been successfully updated with the transfer of title. Meanwhile, Propy’s platform had committed the deed to the blockchain.<\/p>\n\n\n\n

\"Propy<\/figure>\n\n\n\n

Just the Beginning<\/h3>\n\n\n\n

The case was Propy\u2019s first foray into Latvia, but it won\u2019t be the last. The company’s transaction platform streamlines the purchase process, permitting a quicker, more secure transaction for all involved. That has appeal for internationals like Cildermane and locals Latvians alike.<\/p>\n\n\n\n

Propy’s Transaction Management Platform<\/a> is easily customizable and adaptable to any jurisdiction and workflow. Though the company’s main focus remains within the U.S. market (U.S. agents, brokerages, and homebuyers), we are happy to acknowledge the use of our product all over the globe.<\/p>\n\n\n\n

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