There’s Now a Credit-Scoring Platform for Buying Luxury Real Estate With Crypto

RealOpen, a company founded by Christine Quinn, star of Netflix’s “Selling Sunset,” and her husband Christian Dumontet, the inventor of Foodler, has launched RealScore, the world’s first crypto purchasing power feature. 

RealOpen facilitates the purchase of luxury real estate with cryptocurrency by analyzing the buyer’s crypto assets and determining their reliable purchasing power. According to a press release, factors used to provide a score include the diversity of the basket of coins used to fund the offer, buyer-held cryptocurrency in excess of the offer price, and escrow duration. 

RealScore allows high-end real estate buyers and sellers real-time and credible context to evaluate the asset strength behind a specific offer. Dumontet said it allows buyers to shop with confidence. 

“Despite well-publicized crypto volatility, RealOpen provides a credible indication that a crypto offer is better than a cash offer,” said Dumontet. “A buyer today may be concerned with placing a crypto offer, given recent volatility, but similar to the way home buyers use other services to evaluate their buying power or mortgage monthly payments, our prospective clients can use their RealScore to get a better idea of what they can afford. Then they can offer and buy with certainty.”

RealOpen launched in April 2022 and recently expanded into the South Flordia real estate market and currently has exclusive listings totaling upwards of $200 million in volume. The company has partnered with One Sotheby’s International Realty agents Karley Chynces and Bozana Cavar, and has listings available for crypto purchase at the Aria Reserve, Diesel Wynwood Condominium, Regalia and Bentley Residences. 

John Parsianim, vice president of sales at Aria Reserve, said there’s a huge opportunity in buying real estate with cryptocurrency. 

“In real estate transactions, assets are continuously monitored from offer to closing, and we’ve found that a crypto offer can be just as competitive as a cash offer,” said Parsiani in a press release. “Traditional proof-of-funds letters for cash offers are only a snapshot in time and are simply static copies of balance statements. There is no ongoing information for the seller to reference during the escrow period, whereas cryptocurrency holdings can be continuously monitored. I’m excited to be partnering with RealOpen which provides a dynamic, real-time evaluation of the buyer’s purchasing power that can be viewed throughout the escrow period.”

RealOpen accepts any basket of cryptocurrencies including Bitcoin, Ethereum, Solana and stablecoins USDT and USDC.

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