FAQs

What is TokenLinx?

Welcome to TokenLinx, a blockchain-based platform designed to create a marketplace for carrying out property transactions and archiving, sharing, and leveraging critical land data generated and consumed during these transactions. Our goal is to make real estate transactions more efficient for both property sellers and buyers while providing a platform for those who work behind the scenes in the industry, to easily leverage existing data, and be compensated for data they create. TokenLinx offers a revolutionary solution that leverages the power of blockchain technology to streamline the property transaction process and create a more efficient marketplace for all parties involved. 

 

What is critical land data?

Critical land data refers to a set of important documents pertaining to the disposition of ownership of a property, such as deeds, liens, and mortgage servicing documents. These documents, along with others produced by entities that may affect the property, such as HOA restrictions, easements, and right of ways, provide a comprehensive understanding of the property's history and ownership. Additionally, critical land data includes documents describing the property itself, such as surveys, appraisals, and home inspections, as well as documents referring to improvements to the property, such as roof warranty or appliance manuals. These documents are essential for a proper understanding of the property, and their availability and accuracy are crucial in the property transaction process. 

 

Who produces critical land data?

Critical land data documents can be contributed to TokenLinx by a variety of sources. These include government agencies such as county recorders and registrars of deeds, financial institutions such as banks and mortgage companies, professional service providers such as surveyors, appraisers and home inspectors, and other entities such as Homeowners Associations (HOAs) and title insurance companies. Additionally, property owners themselves can provide critical land data documents pertaining to warranties, repairs or improvements to TokenLinx. These various sources provide a diverse range of information that is essential to the property transaction process and by using the TokenLinx platform, all these sources can be easily connected and their data can be shared and used in a secure and efficient way. 

 

What makes critical land data important to a real estate transaction?

Critical land data is essential for a proper understanding of a property and its history and is crucial to the property transaction process.  Access to historical critical land data can speed up the chain of title process and can result in faster closings. Without accurate and comprehensive critical land data, buyers and sellers may not have a complete understanding of the property they are purchasing or selling, leading to potential issues with title, ownership, and compliance. Furthermore, it can affect the assessment of the property value and the mortgage process. The availability and accuracy of critical land data is important to ensure a smooth and efficient property transaction process and protect the interests of all parties involved. 

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Who should use TokenLinx?

The ideal TokenLinx customer includes a wide range of stakeholders in the real estate industry. These include property buyers and sellers, real estate agents and brokers, title companies, mortgage companies, appraisal companies, home inspection companies, surveyors and entities with access to government agencies such as county recorders and registrars of deeds where public critical land data is recorded. Additionally, property owners, home builders, developers, and property managers can also be TokenLinx customers. These stakeholders will benefit from the secure and efficient sharing of critical land data and the streamlined property transaction process provided by the TokenLinx platform. The platform allows them to access and share the information they need in a timely and cost-effective manner, making their work easier and more efficient, and ultimately benefiting the end-users, the property buyers, and sellers.  

 

How do Title companies and vendors sign up for TokenLinx?

TokenLinx is currently conducting an ongoing pilot program in Texas with select title companies and their affiliated vendors. The goal of the program is to refine workflows and touchpoints to best position them within the TokenLinx user dashboard. The initial pilot focuses on the B2B aspect of building the backbone of the system to prepare it for release to property owners.  

 

When will TokenLinx be available to property owners?

While the exact date of public availability of the TokenLinx platform has not yet been determined, the company is actively working on refining the platform through a B2B pilot program and will make it available to the public as soon as it is fully developed and tested. The company is committed to providing a reliable and efficient solution for the real estate industry and will ensure that the platform is ready for release to the public before making it available. 

 

When will the title company pilot program be completed?

The pilot program for title companies is set to conclude in Q2 of 2023 for Texas. This important step in the development of the TokenLinx platform allows the company to test and refine the platform with real-world usage. The data and feedback gathered during the pilot program will be used to improve the platform and ensure that it is ready for widespread adoption. After the completion of the pilot program, TokenLinx will be a major sponsor of the annual TLTA conference, where the platform will be officially demonstrated to the public. This will be an opportunity for title companies and supporting vendors to learn about the platform and its capabilities, and to be added to the onboarding queue to begin utilizing the platform. The company is excited to share the progress and outcome of the pilot program and the official launch of the TokenLinx platform to the public at that time.