System, method and computer program product for facilitating real estate transactions

Abstract

A method is provided that includes providing a service including providing (a) seller information relating to properties of sellers, and/or (b) buyer information relating to buyers. A buyer and seller are engaged (for an engagement period) in communication regarding a property of the seller. During the engagement period, communication between the engaged buyer and/or seller, and other buyers and/or sellers is restricted, including (a) restricting other buyers from accessing or removing, from the service, at least some seller information relating to the respective property of the respective seller, and/or (b) restricting other sellers from accessing or removing, from the service, at least some buyer information relating to the respective buyer. Then, if a real estate transaction is concluded regarding the respective property, the buyer is insured against a loss of income due to default of one or more tenants of the property.

1 . A method comprising: 
 providing a service including one or both of (a) providing, to one or more buyers, seller information relating to one or more properties of one or more sellers, or (b) providing, to one or more sellers, buyer information relating to one or more buyers,    engaging, for an engagement period, one of the buyers and one of the sellers in communication regarding a property of the seller, the property comprising an income-producing property having one or more tenants;    restricting communication between one or both of the engaged buyer or seller and one or both of other buyers or sellers during the engagement period, restricting communication comprising one or both of (a) restricting other buyers from accessing or removing, from the service, at least some seller information relating to the respective property of the respective seller, or (b) restricting other sellers from accessing or removing, from the service, at least some buyer information relating to the respective buyer; and    insuring the buyer against a loss of income due to a default of one or more of the tenants if the engaged buyer and seller conclude a real estate transaction regarding the respective property.    
     
     
         2 . A method according to  claim 1 , wherein one of the engaged buyer or seller comprise an initiating party, and the other of the engaged buyer or seller comprise an initiated party, and wherein the method further comprises: 
 receiving a selection of the initiated party from the initiating party before engaging the buyer and seller, the initiating party having selected the initiated party at least partially based upon information provided to the initiating party, the information comprising seller information when the initiating party comprises the engaged buyer, or buyer information when the initiating party comprises the engaged seller, and    wherein engaging one of the buyers and one of the sellers comprises engaging the initiating party and the selected initiated party.    
     
     
         3 . A method according to  claim 1 , wherein insuring the buyer comprises: 
 providing a policy to the buyer, the policy defining a default of at least one tenant of the property based upon a financial inability of at least one tenant to pay rent, the one or more tenants of the property comprising one or more existing tenants when the policy is provided to the buyer;    determining if a tenant defaults under the policy; and if an existing tenant defaults,    determining a policy benefit, and remitting the policy benefit to the buyer arrangement.    
     
     
         4 . A method according to  claim 1 , wherein insuring the buyer comprises insuring the buyer in accordance with a level of protection, the level of protection having been determined based upon a percentage of an income received or expected to be received from the property, the income being determined at the conclusion of the real estate transaction regarding the property.  
     
     
         5 . A method according to  claim 1 , wherein insuring the buyer comprises insuring the buyer without interaction with the tenants of the property.  
     
     
         6 . A method according to  claim 1  further comprising: 
 collecting a fee for providing the policy, the fee having been established based upon a price or value of the respective property.    
     
     
         7 . A method comprising: 
 providing an insurance policy to an entity in connection with a transaction affecting ownership of an income-producing property including at least one tenant expected to pay rent, the policy defining a default of at least one tenant of the property based upon a financial inability of at least one tenant to pay rent, wherein the at least one tenant comprises at least one existing tenant of the property when the policy is provided to the entity; and    insuring the entity under the policy, the entity being insured against loss of a income due to default of at least one tenant of the property.    
     
     
         8 . A method according to  claim 7 , wherein providing a policy comprises providing a policy that also defines a level of protection, the level of protection having been determined based upon a percentage of an income received by the entity from the property.  
     
     
         9 . A method according to  claim 8 , wherein providing a policy that also defines a level of protection comprises providing a policy that defines a level of protection comprising a percentage of a net operating income (NOI) received by the entity from the property.  
     
     
         10 . A method according to  claim 7 , wherein insuring the entity under the policy comprises: 
 determining and remitting a policy benefit to the entity if a tenant defaults under the policy, the policy benefit being determined based upon a rental income due from the defaulting tenant.    
     
     
         11 . A method according to  claim 10 , wherein determining a policy benefit comprises determining a policy benefit based upon an income due the entity from the property before the tenant defaults, and an income due the entity from the property after the tenant defaults, and wherein the income due the entity from the property before and after the tenant defaults is at least partially based upon the rental income due the entity from the defaulting tenant.  
     
     
         12 . A method according to  claim 7 , wherein providing a policy comprises providing a policy to the entity without interaction with the at least one tenant of the property.  
     
     
         13 . A method according to  claim 7 , wherein providing a policy comprises providing a policy also defining a level of protection, the level of protection having been determined based upon an operating income of the property at a conclusion of the transaction affecting ownership.  
     
     
         14 . A method according to  claim 13 , wherein providing a policy comprises providing a policy also defining a term, the term having been determined based upon the conclusion of the transaction affecting ownership.  
     
     
         15 . A method according to  claim 7  further comprising: 
 collecting a fee for providing the policy, the fee having been established based upon a price or value of the property.    
     
     
         16 . A system comprising: 
 a facilitator arrangement configured for providing a service including one or both of (a) providing, to one or more buyers, seller information relating to one or more properties of one or more sellers, or (b) providing, to one or more sellers, buyer information relating to one or more buyers,    wherein the facilitator arrangement is configured for engaging, for an engagement period, one of the buyers and one of the sellers in communication regarding a property of the seller, the property comprising an income-producing property having one or more tenants,    wherein the facilitator arrangement is configured for restricting communication between one or both of the engaged buyer or seller and one or both of other buyers or sellers during the engagement period, restricting communication comprising one or both of (a) restricting other buyers from accessing or removing, from the service, at least some seller information relating to the respective property of the respective seller, or (b) restricting other sellers from accessing or removing, from the service, at least some buyer information relating to the respective buyer, and    wherein the facilitator arrangement is configured for insuring the buyer against a loss of income due to a default of one or more of the tenants if the engaged buyer and seller conclude a real estate transaction regarding the respective property.    
     
     
         17 . A system according to  claim 16 , wherein one of the engaged buyer or seller comprise an initiating party, and the other of the engaged buyer or seller comprise an initiated party, 
 wherein the facilitator arrangement is further configured for receiving a selection of the initiated party from the initiating party before engaging the buyer and seller, the initiating party having selected the initiated party at least partially based upon information provided to the initiating party, the information comprising seller information when the initiating party comprises the engaged buyer, or buyer information when the initiating party comprises the engaged seller, and    wherein the facilitator arrangement is configured for engaging the initiating party and the selected initiated party.    
     
     
         18 . A system according to  claim 16 , wherein the facilitator arrangement is configured for insuring the buyer by: 
 providing a policy to the buyer, the policy defining a default of at least one tenant of the property based upon a financial inability of at least one tenant to pay rent, the one or more tenants of the property comprising one or more existing tenants when the policy is provided to the buyer;    determining if a tenant defaults under the policy; and if an existing tenant defaults,    determining a policy benefit, and remitting the policy benefit to the buyer arrangement.    
     
     
         19 . A system according to  claim 16 , wherein the facilitator arrangement is configured for insuring the buyer in accordance with a level of protection, the level of protection having been determined based upon a percentage of an income received or expected to be received from the property, the income being determined at the conclusion of the real estate transaction regarding the property.  
     
     
         20 . A system according to  claim 16 , wherein the facilitator arrangement is configured for insuring the buyer without interaction with the tenants of the property.  
     
     
         21 . A system according to  claim 16 , wherein the facilitator arrangement is further configured for collecting a fee for providing the policy, the fee having been established based upon a price or value of the respective property.  
     
     
         22 . A system comprising: 
 a facilitator arrangement configured for providing an insurance policy to an entity in connection with a transaction affecting ownership of an income-producing property including at least one tenant expected to pay rent, the policy defining a default of at least one tenant of the property based upon a financial inability of at least one tenant to pay rent, wherein the at least one tenant comprises at least one existing tenant of the property when the policy is provided to the entity,    wherein the facilitator arrangement is configured for insuring the entity under the policy, the entity being insured against loss of a income due to default of at least one tenant of the property.    
     
     
         23 . A system according to  claim 22 , wherein the facilitator arrangement is configured for providing a policy that also defines a level of protection, the level of protection having been determined based upon a percentage of an income received by the entity from the property.  
     
     
         24 . A system according to  claim 23 , wherein the facilitator arrangement is configured for providing a policy that defines a level of protection comprising a percentage of a net operating income (NOI) received by the entity from the property.  
     
     
         25 . A system according to  claim 22 , wherein the facilitator arrangement is configured for insuring the entity under the policy by determining and remitting a policy benefit to the entity if a tenant defaults under the policy, the policy benefit being determined based upon a rental income due from the defaulting tenant.  
     
     
         26 . A system according to  claim 25 , wherein the facilitator arrangement is configured for determining a policy benefit based upon an income due the entity from the property before the tenant defaults, and an income due the entity from the property after the tenant defaults, and wherein the income due the entity from the property before and after the tenant defaults is at least partially based upon the rental income due the entity from the defaulting tenant.  
     
     
         27 . A system according to  claim 22 , wherein the facilitator arrangement is configured for providing a policy to the entity without interaction with the at least one tenant of the property.  
     
     
         28 . A system according to  claim 22 , wherein the facilitator arrangement is configured for providing a policy also defining a level of protection, the level of protection having been determined based upon an operating income of the property at a conclusion of the transaction affecting ownership.  
     
     
         29 . A system according to  claim 28 , wherein the facilitator arrangement is configured for providing a policy also defining a term, the term having been determined based upon the conclusion of the transaction affecting ownership.  
     
     
         30 . A system according to  claim 22 , wherein the facilitator arrangement is further configured for collecting a fee for providing the policy, the fee having been established based upon a price or value of the property.