Minimum Requirements

Property Owners

To get approved to list one’s property on Vessel, the homeowner must provide and pay for the costs of obtaining the following:

Initial home appraisal

Property title search

Homeowner(s)’ credit report and background check

Proof of identity, including government IDs

Statements showing existing mortgage balance(s) and insurance coverage

While we won’t work with candidates with histories of criminal activity, bankruptcies, foreclosures, and we won’t support properties that we deem to have a sufficiently high outstanding mortgage, we are willing to present homeowners’ unique situations to investors, such that investors can evaluate the risk and reward for themselves when making investment decisions.

Investors

We are not requiring investors to be accredited. The reason is that we believe these investments will not legally be classified as securities, and thus would not be subject to that body of law’s requirements. Our reasoning is that securities law applies when investment is made into an enterprise whose success depends on the effort of others. We have designed an investment contract that, when executed correctly, does not depend on the effort of others. Or, for that matter, on the efforts of anyone. Property income is not allocated to investors and investors’ would-be gain or loss from owner-caused improvements or damages are entirely offset.

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