The Broker

Ethereum Smart Contract assure us the transaction between both parties involved in a contract is authentic. But do you really trust anybody on the Internet? What if the seller doesn't send you the product after you paid the price already? What if the buyer doesn't confirm or even pretend he/she didn't get the product?
 
That's why we have a person in the middle of the contract who checks the product, document, money transfer, product delivery, and do other validation stuffs. We call them, the Broker. The same thing can happen in the Smart Contract. 

In this Smart Contract, we have 3 paries invloved. The seller, they buyer, and the broker. Let's think about their roles in case the seller wants to sell a house.

For more details, please check this
Please try with testnet before you spend the real Etherum money on this.
Also you might need an Ethereum/USD price calculator.

Open or create a contract


my last contract :

Item information

Contract status : NOT CREATED
Minimum 0.1 Finney (0.0001 eth ~ 25Cent) to 0.01% of the price will be sent to the developer.
Only the creator (Broker or Seller) can change this.

If you are

The Seller

The Seller is the owner of the house. The Seller decides the price of the house, can select the Broker, and set the fee for the Broker. The Seller can 'abort' the contract only at the 'created' stage.

The Broker

The Broker is the validator, and the witness of the contract. In the earlier stage of selling a house, the broker can check all the documents the seller or buyer give in (the history of the house, insurance information, inspection report, etc). At the end of the contract, the buyer sends the money and once all paper process is done (the Buyer is now officially the owner of the house), the broker confirms it. Only after that, the money is sent to the seller, and the given fee is sent to the broker. 

Only the broker can cancel the contract if there's any fraud found or any of the seller/buyer don't want to continue. If the contract is canceled after the buyer sent the money, the money is safely returned back to the buyer.

The Buyer

The buyer sends the money, give in required documents to the broker for validation. 

Either the seller or broker can create a new contract. Only the creator can set the price information, and the fee for the broker. 

When selling a house, usally the realtor will do the broker's role so the realtor will create the contract from hise/her PC, set the seller information (Etherum address) and the fee the broker will take from the price. Or a seller can create a new contract, asking somebody else like lawyer do the broker's role. The seller can set the information of the person doing the broker's role, his Ethereum address fee and the fee to that person.

1st stage. Set who's the seller or broker


Set Broker info

Broker address Broker fee (in ETH)

Set Seller and Broker Fee

Seller address
Broker fee (in ETH)

2nd stage. Broker checks the documents and item, and finally confirms.


Validate the documents

Press this if you checked all the document or status of the item.

3rd stage. Buyer confirms the purchase by sending the price.


Confirm purchase

You can purchase this only when the status is 'Validated', which means a broker confirmed all the documents or item as valid.
* The seller can not change the price once you press this.

4th stage. Broker check item delivery is done. Now the moeny actually will be sent.


Confirm transfer of item

Press this if you checked the item is delivered to the buyer. Without this, the money can not transferred to the seller (and you).

If anything gone wrong, abort the contract. Any moeny spent by the seller will be returned.

Abort the contract

Abort this contract. Once the contract is locked or validated, you can't.

Abort the contract

Abort this contract if you find any fraud or violation.
Time Event