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Title: So you want to buy a house. Now what? Post by: nak on November 21, 2013, 10:53:27 PM I'm sure this has been asked a lot already, but if you've got a big stash of bitcoins, say enough to buy a house - how do you get such vast amounts of BTC into fiat?
I read about the guy in Norway, it how did he manage to actually convert the BTC into a deposit for a house. Title: Re: So you want to buy a house. Now what? Post by: mb300sd on November 21, 2013, 10:55:37 PM Sell slowly on exchange, transfer as needed, make wire transfer to seller when ready.
Thats basically what I did... Taxes are gonna be a bitch this year tho. The buying process is a lot easier when theres no bank involved. My real estate agent did most of the work. Title: Re: So you want to buy a house. Now what? Post by: BadBitcoin (James Sutton) on November 21, 2013, 11:34:56 PM I'm sure this has been asked a lot already, but if you've got a big stash of bitcoins, say enough to buy a house - how do you get such vast amounts of BTC into fiat? I read about the guy in Norway, it how did he manage to actually convert the BTC into a deposit for a house. there should be someone local who might be interested in trading for cash directly, www.localbitcoins.com, however that's quite a bit of money. it might be possible to find someone who'd be interested in selling their house for bitcoins, I definitely would, if your in a deeply bitcoin penetrated area that could be alot cheaper. Title: Re: So you want to buy a house. Now what? Post by: corebob on November 21, 2013, 11:52:50 PM I think he got it exchanged to fiat using a German exchange. Because of some controversy he was only able to exchange about 25% of he's coins. The rest is on hold, probably because of legal issues.
After that he payed something like 28% tax Title: Re: So you want to buy a house. Now what? Post by: Firedrake on November 22, 2013, 01:34:30 AM Does anybody know what happened here? I can't find any info afterwards...
http://business.financialpost.com/2013/03/21/canadian-bitcoin-house-for-sale/?__lsa=aa7f-c1c9 Title: Re: So you want to buy a house. Now what? Post by: forevernoob on November 23, 2013, 03:08:56 AM Say you wanna buy a house for 250k.
Hire 10 runners and pay them a fee of 10%. Every "runner" will trade your bitcoins on localbitcoins and get cash for it. This way you won't attract too much attention, especially if you ask the runners to do multiple trades. (maybe 5K each trade?) Only problem remaining is getting the people selling the house to accept cash. Title: Re: So you want to buy a house. Now what? Post by: pr9me on November 23, 2013, 04:46:28 PM Say you wanna buy a house for 250k. Hire 10 runners and pay them a fee of 10%. Every "runner" will trade your bitcoins on localbitcoins and get cash for it. This way you won't attract too much attention, especially if you ask the runners to do multiple trades. (maybe 5K each trade?) Only problem remaining is getting the people selling the house to accept cash. All of this requires a lot of people that you can trust... Title: Re: So you want to buy a house. Now what? Post by: forevernoob on November 23, 2013, 05:39:48 PM Well it's possible to do with 3 people trading 5k intervals.
But then it would take around 16 trades per guy. Title: Re: So you want to buy a house. Now what? Post by: Amph on November 23, 2013, 07:58:23 PM pay it in bitcoin
problem solved |