13 BTC Loan - Land Collateral

[goducks]

Hi,

New to this website and had a general question. I am looking at a 13btc loan (~$9k) for 8 weeks. I have 2.5 acres located in Southern California last evaluated at roughly a worth of nearly $11k.

Is land something that can be used as collateral? Appreciate any help and insights.

[OmegaStarScream]

I assume it's not unless of course you can give to the lender (who should be from the same country and area as you).
Land get probably more valuable over the years and in case the whoever gave you loan won't give you back your land , what are you going to do and how you are planning to prove what happened in Bitcointalk in the court ? sounds complicated to me. So it's probably not valid collateral with all meanings .

[goducks]

Ok good insight, my thought process behind it would be to create a rocket lawyer legal agreement between both parties to avoid any issues.

[mrhelpful]

You need to provide more in detail information with what youre asking here similar how you`ll post a car as a collaterol.

The information such as the paper work and the title of ownership is verified with you, also mineral rights, if you have any.

I doubt this will get fulfilled, since most arent willing to lend when the price of bitcoin is gone up.

[goducks]

Thanks for the response.

I was more so asking to see if it would be an option even to have land as collateral. I am asking for 13 btc (~$9k) for 8 weeks for a repaid interest of 1 btc. I can provide proof of land ownership/personal information if interested, please PM me for that information.

Sorry once again, new to the website and still learning about the process but happy to clear up any questions/concerns or hop on a phone call.

In terms of the btc price fluctuating, is it possible to lock in the rate at the current trading price?

[Quickseller]

It can easily cost a large mortgage servicer $15,000 to foreclose on a delinquent mortgage, and I would anticipate that a person owning a single loan would probably incur greater costs to foreclose on a property, especially in a state like CA.

Also, before anyone should ever accept land/real property (eg a house) as collateral, they should get a title report and title insurance, which will also add to the costs of the loan (even if the loan is repaid on a timely basis).

[goducks]

Thanks for the feedback, those are good alternatives to keep in mind. I didn't think so many fees would be in consideration, figured it could be easy as a car title switch. Still open to hear if others are interested, I thought it would provide good collateral given the loan amount.

But appreciate the advice and information, will read more into it on my end.

[jonald_fyookball]

those kinds of deals require a note on the property done through a proper legal team.  theoretically possible
if the lender knows what he is doing.

also i'm pretty sure you are lying 

[goducks]

Pretty sure I am lying? I know you deal with a lot of attempted scams on this site, but please do not categorize me with such. Happy to provide any information and do all proper legal procedures if we were to move forward.

So please do not try to tarnish my post for your lack of belief, because I will happily hop on a call, meet in person (if near by), Skype, etc.

[jonald_fyookball]

Pretty sure I am lying? I know you deal with a lot of attempted scams on this site, but please do not categorize me with such. Happy to provide any information and do all proper legal procedures if we were to move forward.

So please do not try to tarnish my post for your lack of belief, because I will happily hop on a call, meet in person (if near by), Skype, etc.

what county is it in?

[Quickseller]

Pretty sure I am lying? I know you deal with a lot of attempted scams on this site, but please do not categorize me with such. Happy to provide any information and do all proper legal procedures if we were to move forward.

So please do not try to tarnish my post for your lack of belief, because I will happily hop on a call, meet in person (if near by), Skype, etc.

what county is it in?

I have 2.5 acres located in Southern California

The United States

[goducks]

Specifically Kern County.

[Atomicat]

Specifically Kern County.

I might fulfill this loan without interest if you find a trustworthy escrow on this forum to hold the collateral.

[goducks]

Ok I am interested, sorry new to this website. Can you tell me the steps behind finding a good escrow source here? Also curious why you would want to move forward with no interest here? Are you just hoping the loan defaults?

[eaLiTy]

what are you planning to do with a loan of 13 BTC since the price are increasing are you planning to play the vanishing act  ,if you own the property why dont you go to a bank and take out a loan,it is a simple process rather than asking here i guess

and if anyone wants to provide a loan here,sure that can be made possible with the help of a lawyer with the proper documentation

[Atomicat]

Ok I am interested, sorry new to this website. Can you tell me the steps behind finding a good escrow source here?

You can find a list of good escrows here: https://bitcointalk.org/index.php?topic=855778.0

Also curious why you would want to move forward with no interest here?

I believe that loans should be interest free because the one asking for it is facing hard times and charging interest only makes it harder for him. Just my 2 cents.

Are you just hoping the loan defaults?

No I prefer to see the loan paid back.



Do you want this loan to be a USD-tied one? IMO, A USD-tied one will be better because if it was purely BTC-based you would end up paying much more than you borrowed due to the increased bitcoin price.

[goducks]

I actually did want the loan to be currency tied and not btc tied because of halving. Appreciate the gesture generally I thought it would make no sense to you as the lender unless there was an incentive for you to loan to me.

I did attempt with the bank but they did not have any loans with interest rates that would help given the value of the land. I was told it had to be worth at least double the amount of the loan value I am requesting.

Happy to hop on a call and get lawyers to talk out next steps if need be. Once again I have nothing to hide, so the fact that I continue getting doubted makes me want to continue to answer / provide any proof you have.

Please keep the questions coming. Btw all property tax payments are up to date.

[CoinHopper]

11k in land in California, seems too cheap. Is the land contaminated?

[goducks]

No it's literally a deserted area in Southern California. Please look up real estate in Kern County and look at the going rates.

[CoinHopper]

No it's literally a deserted area in Southern California. Please look up real estate in Kern County and look at the going rates.

I can give it it a look. Do you want to sell the land. Maybe I can buy it from you but I would only be prepared to pay half of what it's worth.