| This falls into the central conceit of crypto "I can avoid laws" I think you'll find that laws are harder than you think, and less forgiving of clever loopholes like this. Frankly, I don't know why less regulation on most people's largest purchase is considered a good thing. You also don't really understand the cost drivers. The escrow company should have cost maybe 1%. You didn't have to do that at all. You could have offered to skip escrow, given cash directly to the seller and recover from them if the contract goes sideways. You also don't understand real estate law.
>Default on the mortgage is now a much simpler and faster eviction process since the homeowner is legally just a tenant of the DAO. It is easier to evict a foreclosee than a tenant in most jurisdictions. > one of the massive frictions that existed n 2008, where foreclosures went slow as molasses because formal title and liens got lost in byzantine county clerks across the country. 2008 moved slowly for two main reasons. 1, politically, no one wanted to move fast. 2, the mortguages were all chopped up, sub contracted, etc, and it was unclear who had rights to forclose on the house because of teh mounds of subsequent obligations. |