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Author Topic: [WTS] Selling ~1.5 acres vacant, buildable land in North Carolina, USA  (Read 15103 times)
jgarzik
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March 20, 2013, 05:37:44 AM
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Build your dream cabin near the river!   Asking $28,000, or the equivalent in bitcoins (~55 BTC as of this writing) for vacant land in Wake County, North Carolina totalling approximately 1.5 acres.

Lot #11 is full of young pine trees.  Used to be a garden, 40 years ago.

This lot is less than 0.5 mi to the Neuse River, and has only a slight slope.

Utilities available: electricity, cable TV, Internet, phone, water (well), septic tank.

Nearby:  Walking distance to Neuse River, Wil-Mar golf course.  Short drive to Knightdale or Raleigh.  Easy access to I-540 highway, which takes you straight to the airport.

Pictures: http://gtf.org/garzik/holly-lake/

Map/GPS addresses: 3329 Holly Lake Trail, Raleigh, NC 27604

Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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March 20, 2013, 08:06:24 PM
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Bump.  (next bump if something changes, or a week+ from now)


Title report?

I am poor, but i do work for Coin Smiley
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jgarzik
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March 20, 2013, 09:32:19 PM
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Bump.  (next bump if something changes, or a week+ from now)


Title report?

Summary:  Clean title w/ title insurance obtained when I purchased these lots.  Currently there is one associated lien, the mortgage on the collective two lots (one debt, two lots).

Can furnish more details to serious inquirers.


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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March 21, 2013, 05:13:09 AM
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Bump.  (next bump if something changes, or a week+ from now)


Title report?

Summary:  Clean title w/ title insurance obtained when I purchased these lots.  Currently there is one associated lien, the mortgage on the collective two lots (one debt, two lots).

Can furnish more details to serious inquirers.



you've been in bitcoin for years don't you have a crapload already ? Lol Tongue
jgarzik
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March 21, 2013, 05:26:39 AM
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you've been in bitcoin for years don't you have a crapload already ? Lol Tongue

Under 200 bitcoins currently.  I spend mine, and have given away over 15,000 BTC in years past as developer bounties.

This land sale is another example of same:  you create a bitcoin economy when you buy and sell with bitcoins.


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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March 21, 2013, 05:43:59 AM
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i've only been involved a couple months but I spent 9 ! . Ideally I would like my paychecks to get automatically converted into bitcoins. Then I would pay everything with them if I could. If it were possible.

jgarzik
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March 21, 2013, 09:21:29 PM
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Some info about the area:

     http://en.wikipedia.org/wiki/Wake_County,_North_Carolina
     http://www.visitraleigh.com/

Wake County is a growing area, a good real estate investment according to some:
http://www.newsobserver.com/2013/02/23/2702528/california-billionaire-bets-on.html

Wake County was one of the areas relatively untouched by the subprime mortgage crisis, and its population continues to grow.

Only ~3 hours to the Atlantic Ocean, by car.


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March 22, 2013, 04:08:13 AM
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Only 1166 bitcoins? Hmm, I've probably got that laying around somewhere...
jgarzik
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March 22, 2013, 04:19:34 AM
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Only 1166 bitcoins? Hmm, I've probably got that laying around somewhere...

Due to bitcoin's value volatility, the purchase price is indexed to the US Dollar, and would be converted a couple days before closing/settlement.

So at present market price, $70,000 is more like 953 BTC Smiley


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March 22, 2013, 07:10:26 PM
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How much are property taxes?
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March 22, 2013, 07:32:32 PM
 #11

How much are property taxes?

.5340 for Wake County http://www.dor.state.nc.us/publications/2012-13_countytaxrates.pdf

jgarzik
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March 22, 2013, 08:12:54 PM
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Answering some questions left by a private inquirer:

Q. Does this include permission to build on the vacant land?  (Apparently in some countries the right-to-build may be separate)

A. In Wake County/NC/USA, a construction permit is required.  The purpose of the permit is an engineering evaluation, to ensure you are building a safe building.  As long as your submitted engineering plans conform to local building codes, you may build as you like, when you like.



Q. Are foreigners permitted to purchase this land?  Are corporations permitted to purchase?

A. Yes and yes.  The county's Register Of Deeds will require a name and mailing address for public records and property taxes.  Property taxes must be paid in USD, not BTC.


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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jgarzik
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March 22, 2013, 08:19:17 PM
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For the purposes of property tax calculation, these are the assessed values, according to Wake County:

Lot #5: $67,146 (paid $412 for property taxes in current tax year)
Lot #11: $58,900 (paid $361 for property taxes in current tax year)

The tax values are above listing price, and in my opinion, are over-valued.  The property values are re-assessed every few years, but you can always go through a months-long appeals process to "short circuit" that.


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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jgarzik
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March 27, 2013, 08:57:57 PM
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It has come to my attention that Lot #11 was mispriced, and is actually being sold below cost.

The new price for Lot #11 is $33,000 (or bitcoin equivalent).  The other prices are unchanged.

Snapshot, based on $87.99 current price:

     Both lots ($70,000):  795 BTC
     Lot #5 alone ($45,000):  511 BTC
     Lot #11 alone ($33,000):   375 BTC


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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Fiyasko
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March 27, 2013, 09:09:06 PM
 #15

Oh this is cool!, I would Love to see Land purchased with bitcoins!, purchasing land is a great feat for anyone!
I can see it now in the online headlines "Man buys acres of land using bitcoins" and then up goes the value of coins!

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March 27, 2013, 09:11:31 PM
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It has come to my attention that Lot #11 was mispriced, and is actually being sold below cost.

The new price for Lot #11 is $33,000 (or bitcoin equivalent).  The other prices are unchanged.

Snapshot, based on $87.99 current price:

     Both lots ($70,000):  795 BTC
     Lot #5 alone ($45,000):  511 BTC
     Lot #11 alone ($33,000):   375 BTC



$70k=
$45k=
$33k=

for information only

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March 27, 2013, 10:27:08 PM
 #17

Unfortunately, North Carolina is a bit far afield for me.

But best of luck to you!

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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March 27, 2013, 10:31:58 PM
 #18

Good initiative, good luck.

homeyhomedawg
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April 09, 2013, 05:30:45 AM
 #19

lol, what a small world, I live in wake county
My dad owns 4 houses in wake county and if you provided more information I'm sure he would look into this
jgarzik
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April 09, 2013, 06:11:31 AM
 #20

lol, what a small world, I live in wake county
My dad owns 4 houses in wake county and if you provided more information I'm sure he would look into this

Send a PM, and I'll be happy to provide any additional information needed.


Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
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