BRISBANE, QLD (Olympic City 2032)
Inner City - North
Property Name: Koala
Token Series Name: BRIKkoala
Token Price: US$80.00
Total Tokens for Sale: 33,000
Total Property Cost: US$2.6 million
Property Status: Established Home
Late November 2021
Long Purchase Process
Long process from purchase to settlement of property.
Lack of Transparency
The lack of transparency, frustration and honesty when buying and selling.
High Property Cost
High entry cost to buy property directly.
Minimum Property Cost in Brisbane, Australia US$400,000.
Cannot be easily sold.
Lack of potential Buyers.
Traditional Bank finance capacity requirements are too rigorous by focusing on two main areas.
1. Income levels to service loan.
2. Generally you have to provide 20% of the purchase cost of the property, as banks will only lend 80% of the cost of the property.
Long Financing Approval Time Frame
Long process time to obtain Finance Approval.
High Transaction Costs
Transaction Costs to exchange Property.
Buying: Legals, Finance Costs, Government Purchase Taxes
Selling: Real Estate Agent Fees (between 2% - 6%), Legals, Finance Costs and Government Taxes.
Servicing Loan Inflexibility
Inability to change loan commitments if income received changes due to negative situations in life.
Only Fiat currency is accepted
Only fiat currency is accepted when purchasing the property.
Geographic Location Restriction
Restricted in locations where you have your Real Estate Properties in your portfolio.
You either own 100% or 0% of the property.
Some people around the world have never had the chance to use a bank and build a credit rating.
BRIK Token Series: <Name>