Bitcoin Forum

We are all aware that it is take time to transfer BTC from one wallet to another one. In this case when you are purchasing something big with BTC like house or car all parties has to be secured. What is the best way to secure seller to get BTC when all documents are signed?

The safest way and no options on your list are transactions directly (face to face). To buy physical property with an expensive value, of course you have to do some signatures of the approval / agreement document in writing. Payment or delivery of property or goods is carried out at that time (or depending on the agreement in the MOU)

Agree. Process for buyer is standard. The question is how to secure seller of not getting his BTC. For example in UAE we are securing funds in bank in the way of manager's cheque. In  this case at the moment of signing transfer documents seller gets his funds and buyer property or car... Is there any similar way with BTC? I have seen a lot of escrow wallet services online but not really sure that they can be trusted and they are expensive.

Do the transaction in person like others are saying.

Also, if you're going to transact huge amounts of value(like a car or a house), just increase the transaction fee so you wouldn't wait for long. Probably a $5 transaction fee would be next to instant, why not pay that fee? Just for the peace of mind for both parties, and also so that you wouldn't be wasting any time.

do smart contract

Draw up the relevant documents and have them signed, it should also state the exchange rate for bitcoin to fiat at that time.
Ensure it's a direct transaction, done face to face. Asides this, just take the necessary precautions as when paying with other currencies.
You would surely need a lawyer, but that lawyer does not have to act as an escrow, as the transaction can be done instantly using high transaction fees

The only real safe way to trade is face to face. Even then it is hard to trust them, meet in a very public place in the middle of the day, just like in the movies

Your first two options in the vote are the same. An escrow is literally a third party. What that third party does outside of offering escrow services or how you interact with them is irrelevant. Escrow is the only true way to secure yourself in a transaction.

Buying a car or house using bitcoin is not dissimilar from using any other currency. You still need to transfer the money. That money transfer can happen physically (i.e., I give you $10,000 or 3.3 BTC) in an envelope or a hard wallet) or electronically/virtually (i.e., account:account or wallet:wallet transfer). There's still a need to trust the party. If you don't know the party or have low trust that they'd follow through if a problem occurs, use a third party.

And when selecting an Escrow use one that has something to lose, like their reputation as an escrow, if they fall through with the transaction.

Good luck to you.

I think that the safest way to use is of course the lawyer because he will give us the opportunity to be sure that we have actually purchased this or that thing with the help of bitcoins

I think the best way is next to the seller or buyer. When you buy something really big like a car, house or say a piece of land outside the city in any case you will meet with a person to sign certain documents. In this moment, you can easily carry out a transaction by taking a laptop.

Always use a third party as an escrow or transfer money from wallet to wallet with that third party present. Don't send coins without signing documents first.

The safest way would be to either send the coins to a wallet owned by your lawyer who would act as escrow and release coins when you get paperwork and keys.

The second safest way would be to meet at the notary's office sign the paperwork and send coins there with witness present.