Questions regarding selling real estate for Bitcoins

[OrenG]

Hi,

Being a newbie (here) I'll just post my Q here for now.
I have a property I'm currently putting in the market for just above $500,000. (official ask is $525K). It's a beautiful beachfront house in Nicaragua, inside a well established community, right by some of the most amazing surfing beaches in the world. The house is renting throughout the year, and Nicaraguan laws making international investment and ownership very easy. (Think Costa Rica about 15 years ago)

I'm thinking about offering it for bitcoins. My questions:
1) I'll obviously be willing to use an Escrow service, and willing to pay commision. I fully own the deed to the house and can  wait until the deed is transferred. Are there any bitcoin Escrows that are specializing in Real Estate?
2) I would like to convert most of the coins back to fiat. Considering the amount and volatility, what's the best way to do it quickly? I don't want to stay "long naked" bitcoin for days.
3) As alternative to #2: What's the best way to hedge a bitcoin? Are there any reliable tradable futures / options?
4) Can I reasonably expect/ask for a higher $ value because of the risk? Or simply because I'm aiding someone transferring his bitcoin wealth to Real Estate wealth?
5) Any other things I should be aware of?

Thanks for any input!

[hilariousandco]

Hi,

Being a newbie (here) I'll just post my Q here for now.
I have a property I'm currently putting in the market for just above $500,000. (official ask is $525K). It's a beautiful beachfront house in Nicaragua, inside a well established community, right by some of the most amazing surfing beaches in the world. The house is renting throughout the year, and Nicaraguan laws making international investment and ownership very easy. (Think Costa Rica about 15 years ago)

I'm thinking about offering it for bitcoins. My questions:
1) I'll obviously be willing to use an Escrow service, and willing to pay commision. I fully own the deed to the house and can  wait until the deed is transferred. Are there any bitcoin Escrows that are specializing in Real Estate?
2) I would like to convert most of the coins back to fiat. Considering the amount and volatility, what's the best way to do it quickly? I don't want to stay "long naked" bitcoin for days.
3) As alternative to #2: What's the best way to hedge a bitcoin? Are there any reliable tradable futures / options?
4) Can I reasonably expect/ask for a higher $ value because of the risk? Or simply because I'm aiding someone transferring his bitcoin wealth to Real Estate wealth?
5) Any other things I should be aware of?

Thanks for any input!

Use bitpay. It converts straight to fiat and there's no need for an escrow. I don't see why anyone would pay more than it's worth in BTC. Usually people give discounts.

[OrenG]

Thanks for your answer.
I'm not sure I follow you completely about bitpay.

Use bitpay. It converts straight to fiat and there's no need for an escrow. I don't see why anyone would pay more than it's worth in BTC. Usually people give discounts.

I wouldn't mind not using an escrow, but I assume someone paying 700BTC would want it. Does bitpay somehow escrows the coins?

[hilariousandco]

Thanks for your answer.
I'm not sure I follow you completely about bitpay.

Use bitpay. It converts straight to fiat and there's no need for an escrow. I don't see why anyone would pay more than it's worth in BTC. Usually people give discounts.

I wouldn't mind not using an escrow, but I assume someone paying 700BTC would want it. Does bitpay somehow escrows the coins?

Bitpay is just a payment processor. I don't see why you would need escrow if you're doing the deal in person or through lawyers. They send you the funds via bitpay, then you sign the deeds over. Bitapay deposits the cash in your bank.

I'd save onto some if not all of those Bitcoins if you can afford to. I'm sure they'll be worth a hell of a lot more later in the year.

[OrenG]

I don't see why you would need escrow if you're doing the deal in person or through lawyers.

Because with lawyers, the money is usually wired to the lawyer's escrow first, and I doubt that the Nicaraguan lawyer would do a bitcoin escrow...

[hilariousandco]

I don't see why you would need escrow if you're doing the deal in person or through lawyers.

Because with lawyers, the money is usually wired to the lawyer's escrow first, and I doubt that the Nicaraguan lawyer would do a bitcoin escrow...

Find one that will. Is there any reason why you want to accept Bitcoin, especially when you're just going to convert it straight to fiat? Or is it just a way to cut out the costly bank fees etc?

[OrenG]

Or is it just a way to cut out the costly bank fees etc?

Yeap, reduce transaction costs, speed etc.
I'm also still thinking that for anonymity / tax reasons someone who holds bitcoins would be willing to pay a premium on the price. I'm not sure though.