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1  Economy / Marketplace / Re: Luxury 32 Acre Estate for sale in Bitcoin (Oregon) - Contact me if interested on: January 28, 2014, 02:35:10 PM
It's ok if you don't have experience with real estate transactions in the US and Europe. I'm happy to explain a bit to you. A title company's role goes far beyond a financial intermediary. A mass adoption of BitCoin will not change the fact that you can not simply give money to a person and get real estate in return. How do you know what you're getting?  

The role as a financial intermediary in a real estate transaction isn't a title company's primary role and isn't at all the point.

How do you know that you're getting what the seller says when you send him money for the property? How do you know you aren't paying 5000BTC for a property with $6Mil USD liens against it. How do you know that all prior owner liens have been properly cleared and won't be your liability (happens all the time).  How do you know that a guy posting in a forum is the owner at all?

Title companies don't earn any profit from interest or anything else from buyers or sellers. In fact, this is illegal.  The money intermediary part if the transaction is an operating loss for a title company.

I agree with you, escrows will go away with BitCoin transfers, good riddance. But if you send someone BitCoin or any other currency for real estate and think you own it just like that and no one will get defrauded, you're dreaming.

There are some necessary controls in place in our world that work to protect people. I'm obviously a believer in BitCoin and looking forward to introducing new ways for the general public to be able to "on ramp" into the BitCoin ecosystem.  

Without title companies accepting BitCoin, no one will really be able to buy real estate using BTC, that's a fact.
Stay tuned for more details...
2  Economy / Marketplace / Re: Luxury 32 Acre Estate for sale in Bitcoin (Oregon) - Contact me if interested on: January 28, 2014, 03:34:36 AM
As a seller, you actually don't receive any money from the buyer, the title or escrow company does. In the US, the title or escrow company of the buyer's choosing is actually the party that would need to accept BitCoin to facilitate any real estate transaction with BTC. Unless a buyer is willing to purchase property on the word of the seller without searching or insuring the transaction or what he/she is buying. That's a very foolish move.

I represent a nationwide title company that will publicly announce in February that we are accepting BitCoin for the purchase of real estate. We are the first in the US that can truly facilitate a real estate transaction with BitCoin. No real estate broker or seller receives money from any buyer for property in the US. Stories you see about them "accepting BitCoin" are publicity stunts. We are able to handle these transactions now.

When we launch in February, you will also be able to list your property on our site, the first real estate title/escrow company accepting BitCoin.

I'd be happy to help insure a buyer for you and make this transaction happen in BTC!
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