I am looking for a business-smart web developer to turn my vision into a reality. I am creating a security deposit escrow business that holds payments for 3rd parties and releases those payments dependent on milestones and terms. This would need to be a combination of intelligent payment (ACH/eCheck & CC) software with some intelligent backend 3rd party management software built in ...in addition to the beautiful front end design that is standard for sites in 2020. The process flow of users on the site would be this:
1. Property owner inputs details of transaction on site - prompting invite emails to be sent to tenants.
-At this point, type of property (real estate, cars, + general property) and type of transaction (security deposit, milestone transaction, recurring rent payment, eClosing, etc.) are selected by property owner. Based on this, certain terms are recommended by site. Property owner inputs timeline, amounts, emails, amount of time after lease end date that funds are released (ie. 7-55 days).
2. Tenant logs in and accept terms of the transaction.
-It is possible for there to be multiple tenants per 'security deposit' (think of if a 4 bed room apartment has a security deposit and each person needs to pay part of security deposit) while there will only be one property owner. For this, the site should allow multiple people to login and pay - but there should be only 1 master tenant account per security deposit for dispute resolution purposes.
3. Tenants gets identity verified and makes payment (ACH, CC, or Wire)
- ACH and identity verification is done Via Plaid.
4. Funds are deposited are held in site's bank account and are shown in dashboard of both manager and tenants.
-Based on terms set in initial transaction, funds will be released back to buyer at a time scheduled at the beginning (this timeline is subject to extensions).
5. Property owner can take funds from the deposit before the lease end date if tenant does major damages or misses rent - they still have to submit report and request funds from tenant.
-They can get funds after acceptance from tenant. If tenant doesn't accept, it goes to our dispute resolution system.
6. Once security deposit term is over, property owner submits inspection report within 14 days after end of contract - report stipulates fund releases with comments.
-If there is a dispute, tenant needs to submit evidence contrary to inspection report. Then property owner has chance to rebuttal with evidence and then the Admin makes a final decision.
7. Based on managers report, funds are released to tenants (while some might be released to property owner) - once again, the tenants have right to dispute. If they dispute, each party submit evidence and we (the Admin) decides the outcome.
*API: Beyond this process, this functionality will be offered as a web app but it should also be offered as a API so that we can charge other sites to use our software on their own website.
*Revenue: This site will make money on transaction & holding fees
The whole process above should be automatic without any interference from the Admin unless there is a dispute among the property owners and tenants. This site is built primarily for real estate security deposits but it should be built flexibly to handle any property's security deposits (from cars to clothes to drones) and it should also be flexible to hold other types of Escrow payments (for example it should be able to hold the payment of a home's sale). It should be built to be a flexible transaction platform for low fee deals of different sizes it should be built with design and functionality similar to Escrow.com but with more ease-of-use.
This is the Payment Processing API: [login to view URL]
The front end of the site should look like this (w/ Escrow.com backend): [login to view URL]
Let me know any questions you might have - I look forward to seeing your proposals!
50 freelanceria on tarjonnut keskimäärin 5691$ tähän työhön
Hello. We are an expert web development team and have checked your Escrow Transaction Platform carefully. We can build your system without admin's support. Let's discuss more about the project. Bohdan.