Lofty enables you to place a buy order for any property that has ever been listed on Lofty thanks to our trading platform. You can buy directly from other property holders in less than a minute.
To place a buy order for tokens, first go to the Lofty Marketplace.
Once there, click on the property you would like to purchase tokens in.
Once you've opened the property page, click the Buy button on the bottom right hand side of your screen, as seen in the image below.
After you click the Buy button, you will be able to place a buy limit order to purchase your tokens.
We will walk through each of the fields above in the sections below.
Property token quantity
Property token quantity is the total number of property tokens that you want to include in your buy order.
If you prefer to enter a custom amount of tokens instead of the pre-loaded amounts, click Custom on the right side of your screen.
Here, you will select the payment method (USD or Crypto) you would like to use to purchase tokens with.
Any previously used payment methods (bank account, card, or crypto wallet) will be selectable after you click on the "Payment Method" section.
You can also add a new payment method by clicking the "Add Payment Method" button located on the top right corner.
You will also have the option to apply your rental income or gift certificate balance to the transaction during the checkout process. You can do this by clicking the "Add rent balance" button, located in the bottom right corner.
You can then apply any portion of your rental income or gift certificate balance towards your purchase.
If you are funding your transaction with your crypto wallet, you will be prompted to select your payment method on this step.
You can fund your Buy Order using ALGO or USDCa. USDC is a 1:1 representation of the US dollar on the blockchain.
Limit price per token
This is the maximum price per token that you will pay. Your buy order can only match with a seller that is willing to sell at or below this price.
The limit price is automatically set to an "estimated price" equal to the current estimated price, based on HouseCanary data — HouseCanary is the largest property valuation company and is widely considered to set the industry standard for residential real estate valuations.
If you prefer to purchase tokens for sale at a different price, you can enter that price in the field shown below.
This is the count of days after which your order will expire if it is not already fully filled, and at that time any unfilled portion of your order will be cancelled. The order expiration is a fixed 30 days for now; Lofty will allow you to change this in the future.
If your order expires, your unspent funds will be returned to your Lofty Wallet upon order expiration. Funds are returned to your Lofty Wallet even if the order was placed using an External Wallet in order to guarantee that you receive your returned funds.
Once you have filled in all of the information above, click the Preview order button at the bottom right of your screen.
You will then be able to preview your buy limit order before submitting it.
Once you confirm the information is correct, click Submit order to put in a buy limit order on the Lofty Marketplace.
If you are using Lofty Wallet, you are done! If you are using an External Wallet, you must manually open the wallet and sign the transaction within 60 seconds of clicking Submit, otherwise your order will not be submitted.
Now your buy limit order is active, and your payment is sent to escrow where it is securely stored. Funds will be paid to a seller if your order is matched, and any unspent funds will be returned to your Lofty Wallet if your order expires or if you cancel it.
If you navigate back to the property page, you will see an Open buy order button.
Click this button to view your buy order in detail.
Here, you can also cancel your order and see any order updates as well.
You can also access all orders in your Order history menu — just click an given order to see the order detail view.