Smart contracts are known to automate processes involving document verification or mortgage approvals by writing a piece of code that will, in turn, cut down the lengthy and tedious process of buying a property.
‍**For example**, a smart mortgage contract can remove the need to depend on intermediaries and the constant back and forth between parties involved. Moreover, you wouldn't be waiting months for mortgage approvals.
The code for the smart mortgage contract will grant your mortgage request the moment all the documents and requirements defined are fulfilled.
‍In addition, when you rely less on brokers, banks, agents, and lawyers, these processes will significantly reduce the associated costs and processing times.
So, blockchain technology and smart contracts enhance markets' liquidity and function as listing agents, payment brokers, or legal documenters.