Adding a property on Fabrica is the first step to make it digital and sell it online.
If you already own a property (that you bought "off line"), you can load the property on Fabrica in a few easy steps through a guided process.
The steps are:
- Provide property information (address of APN)
- Sign the trust agreement online
- Schedule a notary
- Sign the Trust Deed in front of the notary
- Wait till the system does its magic..
Let's get into the details, step by step.
First, click on "add a new property" from your dashboard.
You'll be able to either add a property by its street address or to provide the APN/FIPS code that identifies the property. You should use the latter only if you don't have a street address: this is very common for vacant land.
A few seconds later, you'll see a screen with a recap of all the information of the property. We're usually able to pull all the information required from public sources, but it's important that you verify that all the information is correct (such as the Legal Description of the Property which you should carefully verify with the original deed that was signed when you originally bought the property to make sure that it matches).
The successor field is the only field that we can't pre-fill automatically. The successor is the person who will become the owner of the property, should you die or become incapacitated. To protect your property, it's very important that you nominate someone here. Don't worry: you'll be able to change it anytime you want.
Once you continue, a Fabrica Trust will be automatically generated with the information you provided and presented on screen so you can read it and sign it. After you sign it, a copy will be sent to you by email and you'll also always be able to read the document from your property page.
After you sign the Trust, a Deed will be generated. The Deed is the document that you will sign to grant the property into the Fabrica Trust. Don't worry: you are the owner of the Fabrica Trust and as such you'll have full control and benefit of the property, but it will gain new super powers.
The Deed needs to be signed in front of a notary. It's an important step to verify your identity. In California you'll need to meet with a notary in real life. To do so, you can either print the deed and meet with a notary close to you or we can't take care of everything: we'll send a notary to your place at your earliest convenience.
The notary will have the deed already printed, will verify your identity and you will sign the deed in front of him.
After that.. you just sit and wait: we'll take care of putting together all the documents, record the deed at the county recorder to protect your property and notify you once the process is completed. The whole process usually takes a few hours, and you'll be kept posted along the way.