Bitcoin Forum

Has anyone used bitcoin to purchase real estate or sold real estate for bitcoin?

I have a property that I was thinking of putting up for sale and to only accept BTC.

Its a three double bed next to the new Chinese business quarter in London Docklands. Next to the Thames river and there is a new super fast train service that crosses London and we have a station nearby all of which is due for completion in the next year or so.

http://www.london.gov.uk/media/mayor-press-releases/2013/05/mayor-announces-1bn-deal-to-transform-royal-albert-dock-into

http://www.crossrail.co.uk/benefits/#

750 BTC. Just think that wouldn't have got you a pizza 2 years ago.

Using the funds to buy some bitcoin Neptune mining gear. ;D

Wonder how the transaction would work..  If 60-day closing, price could change quite a bit after initial offer was accepted in bitcoins.  Would have to be an all bitcoin transaction, banks would be funny using this with financing I think.

I also have some property I would sell for bitcoins too.

Also wonder about the tax implications..  No taxes??  How about paying off the rest of mortgage at closing?  Bank be okay with you accepting bitcoins?

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Wonder how the transaction would work..  If 60-day closing, price could change quite a bit after initial offer was accepted in bitcoins.  Would have to be an all bitcoin transaction, banks would be funny using this with financing I think.

I also have some property I would sell for bitcoins too.

Also wonder about the tax implications..  No taxes??  How about paying off the rest of mortgage at closing?  Bank be okay with you accepting bitcoins?
[/quote]

The risk is that there are property taxes for the purchaser.

I have factored:

1. having to exchange some BTC to pay off some of the mortgage.
2. my costs
3. buyers costs, including property taxes
4. selling as an owner in the UK there is no capital gains tax on the primary property
5. may have to set-up trust for the buyer if they want to remain relatively unknown