Buying real estate with Bitcoin

[jhonjhon]

Well, I'm not sure but I think I already saw a thread here stating that there's a country wherein a real estate company now accepts payment through bitcoin but not really sure maybe I have to try finding it but anyways, I think with today's adoption of bitcoin it is not impossible that some companies are now thinking of using bitcoin as another mode of payment. As far as I know, in our area, the only establishment that accepts bitcoin is a restaurant and a travel agency but haven't heard about real estate in our area.

[wack slacker]

Bitcoin is also a form of currency and its function for payment.  I have heard in the past that I can buy a car, buy a coffee or anything the authorities allow.
The case of real estate companies that allow Bitcoin payments is unlikely to be feasible and I don't know any company that can accept Bitcoin because of the unstable liquidity of Bitcoin.  I think that Bitcoin should only exist in private agreements and when carrying out legal procedures they should be implicitly declared to be a legal currency.  That means a Bitcoin exchange agreement between the owner and the buyer of the property.

[imstillthebest]

As long as the price of bitcoin is constantly changing, no one will want to sell or buy real estate in this way. It seems to me that only stablecoins can be used in this case

Stable coins are not so reliable and since real estate business involves a lot of money, I will never risk this much amount of money in stable coins. Rather I will prefer fiat currency for the real estate business and wait for bitcoin to become more stable and less volatile.

btc born as a volatile coin and i think it will also die this way  . that is why they built stable coins so that people can choose them if they prefer something that is stable  . stable coins are reliable because they are stable but btc arent   .

 stable coins are more suitable then to be used on this transaction because huge money is involved on here  . no one wants to regret once the deal was close because of the unstableness of the price  .  still there are people already done buying and seeling using btc and they are satisfied   .

[Abiky]

For real? I have seen a lot of sites that are accepting Bitcoin for payment for real estate. Since, I don’t invest in real estates I don’t know whether they are legit or not.

You can even sell your real estate for Bitcoin by using bitpay.com/real-estate. This is the only one I know that is legit because Bitpay is a well known platform. Their processing fee for receiving Bitcoin is 1%, as for someone that is sending I don’t know how much the fees are. The process is simple, though there is a paperwork to do, and then your buyer will receive an email from BitPay, and pay at a locked-in exchange price, which is then converted to your local currency before it’s sent to your bank account.

At least, a reputable Bitcoin merchant gateway is offering real estate services. But still, it's odd to find mainstream companies selling lands or houses in exchange for Bitcoin. After all, the world's largest cryptocurrency by market cap is still heavily unregulated worldwide. Not to mention, prices are volatile to an extent where the realtor could lose profit in an instant. It's better to use Fiat or even a stablecoin for this matter, in order to prevent many undesired losses.

Believe me, the time will come when Bitcoin will become useful as a currency for day-to-day payments. Scalability issues need to be solves ASAP in order to make Bitcoin a practical cryptocurrency for everyone. Luckily, the Lightning Network aims to change the way we use Bitcoin as a real currency and not as a store of value. With this, real estate companies can begin offering their services to people around the world without paying hefty fees or waiting hours for transactions to get confirmed on the Blockchain. The only downside is volatility as I've said earlier. But with a much liquid crypto market, this will be a thing of the past.

Nonetheless, with a proper regulatory framework from worldwide governments, it's possible that serious investors and mainstream companies will start adopting Bitcoin for their own benefit. This may take some time though, since governments are still finding their way into the crypto space. Hopefully, we'd get to see renowned real estate companies accepting Bitcoin payments within a couple of years from now. Just my opinion

[Debonaire217]

It is indeed a great development if we achieve the system where real estate could be transacted using bitcoin, I have read about the news before concerning a condo unit sold using bitcoin, though, that isn't real estate or land in the first place, it is near to the achievement of transacting real estate in the future. It might have a lot of diffulty for now as there isn't any strong laws and regulation or there isn't any at all, but sooner or later, when I do really think of it as possible. Think of a record concerning an investment rather than fiat, used to buy expensive things, if that is possible, bitcoin as well should be.

[carlisle1]

some people have done that, even when you find out, surely you will see some people selling real estate for bitcoin, so I think there are some people who want to exchange bitcoin for it, especially for those who have benefited. So far, I have seen a number of times people exchange bitcoin for real estate, and for now, it's quite easy.

what do you mean by "For Now It's Easy"?can you please explain what does it mean?

yeah using cryptocurrrency to Purchase real estate is easy but accumulating bitcoin is harder than getting fiat.

As long as the price of bitcoin is constantly changing, no one will want to sell or buy real estate in this way. It seems to me that only stablecoins can be used in this case

same thoughts here mate,why would we needed to use crypto when we can just use fiat?not unless we are overflowing of bitcoins like whales so it is easy for them to just spend this precious currency.
but for us small time holders?i will prefer using physical money than my cryptos.

Stable coins are not so reliable and since real estate business involves a lot of money, I will never risk this much amount of money in stable coins. Rather I will prefer fiat currency for the real estate business and wait for bitcoin to become more stable and less volatile.

[Meowth05]

With the increased adoption of Bitcoin among mainstream businesses and companies alike, we've seen the possibility of exchanging our Bitcoin to tangible assets for our own benefit. The pioneer cryptocurrency has reached far enough to become recognized as a legitimate form of payment within the mainstream world. Institutional investors, and even banks have realized the benefits of Bitcoin, resulting in increased demand across the market. I've seen forex trading with Bitcoin, and even precious metal retailers which accept Bitcoin as payment.

This makes wonder whenever it's possible to buy real estate with Bitcoin? Because if it does, then there would be nothing left for Bitcoin to become used as a serious cryptocurrency for daily payments (other than scaling the Blockchain and increasing privacy). Do you think that mainstream companies or businesses will be able to accept Bitcoin for real estate? Or it is too early to tell? Any thoughts?

Bitcoin is seemingly getting closer to mainstream or we could simply say that is already been in adoption. Thus, I am pretty sure that there will be few businesses or companies who already have been accept this kind of monetary system. Moreover, since it is already been introduced and saw its potential I am pretty sure sure that there will be some individuals who is willing to take Bitcoin as payment for their P2P transaction. Hence, procurement of real estate via Bitcoin is therefore possible.

[wwzsocki]

Of course, one can buy real estate with Bitcoin, here one of many websites out there https://bithome.ch/.

I can't vouch for them or haven't done any research so advise to check everything before using.

There is plenty of such services on the web just search in Google: "Buying real estate with Bitcoin" and you will see/find them.

Additionally, there are already projects like Atlant which want to tokenize properties and sell them on a free market in centimeters, just imagine that.

[FaithInCrypto]

Maybe in some countries, they do accept Bitcoin as a form of payment for real estate properties but in my country, I don't think it is possible yet unless the owner is also a Bitcoin enthusiast and would prefer Bitcoin payments than fiat. So far I haven't heard someone do this in buying real estate property as the most possible way would be exchanging Bitcoin to fiat first before buying. As we all know, Bitcoin and the whole crypto is very unstable so I don't think this will be possible in the next few years or so.

[Reatim]

I don't think its possible to directly transact real estate transactions with bitcoin, too many legal issues. Maybe someone buying a car and the seller is accepting Bitcoin is something common but for real estate its not really possible to do directly.

Basically your real estate lawyer needs to get your funds to send to the sellers real estate lawyer, he most likely won't accept Bitcoin. Neither will the other lawyer. And if the seller still has a mortgage on their property the bank will want actual fiat and not Bitcoin to close the mortgage. I just don't see this being widely adopted anytime soon. Also what happens if the transaction is double spent? Exactly. Too many things can go wrong.

maybe it depends in which country we were?or who will be the buyer and seller?because since this is tackled here in crypto forum i think the main objective is to buy and sell with crypto enthusiast as well?i mean the buyer knows Bitcoin as also Seller so they can make a good dealings using Bitcoin?
sorry i am not that knowledgeable in real estate policy and rules but in my opinion that is basic to understand if both parties are Cryptonians.

[dimonstration]

I think there

Maybe in some countries, they do accept Bitcoin as a form of payment for real estate properties but in my country, I don't think it is possible yet unless the owner is also a Bitcoin enthusiast and would prefer Bitcoin payments than fiat. So far I haven't heard someone do this in buying real estate property as the most possible way would be exchanging Bitcoin to fiat first before buying. As we all know, Bitcoin and the whole crypto is very unstable so I don't think this will be possible in the next few years or so.

There are already companies who accept BTC in their real estates business though it's still limited. I remember the very famous Primalbase Project before which sold out in few days in their ICO. They are building their buildings now in different countries and investors pay thru BTC. Existing real estates companies may not accept the risk as its volatile but those who are starting can consider it as long as they know how to trade or knows how to handle the risk.

[bryant.coleman]

You can purchase real estate for Bitcoin, using sites such as Bitpremier and there is nothing unusual about it. But all these sites use a third party payment processor to immediately convert your coins to fiat currency. You are paying the amount in Bitcoin, but the prices are pegged in either United States Dollar or Euro and in the end the individual who is selling the property will be receiving the money in fiat. Due to the volatility associated with Bitcoin, it is not practical to accept it directly for such transactions.

[kotajikikox]

As long as the price of bitcoin is constantly changing, no one will want to sell or buy real estate in this way. It seems to me that only stablecoins can be used in this case

so what do you mean?it is impossible to happen that bitcoin can be used as payment method for real estate ?is that a joke mate?
there are time that Bitcoin can be a payment specially when both are crypto user the buyer and seller just like what said above me.

maybe in some fees there will be fiat concerns as the attorney and other people might need to be paid by fiat.

[Abiky]

You can purchase real estate for Bitcoin, using sites such as Bitpremier and there is nothing unusual about it. But all these sites use a third party payment processor to immediately convert your coins to fiat currency. You are paying the amount in Bitcoin, but the prices are pegged in either United States Dollar or Euro and in the end the individual who is selling the property will be receiving the money in fiat. Due to the volatility associated with Bitcoin, it is not practical to accept it directly for such transactions.

That's the real issue. Why accept Bitcoin if you're going to quickly convert it to Fiat? If Bitcoin wants to be used as a real currency for day-to-day transactions, people and mainstream businesses need to "hodl" it instead of converting it to another currency. Of course, this is largely attributed to Bitcoin's volatility in price across the market. As long as Bitcoin fluctuates in price, businesses and merchants will have no choice but to convert BTC into Fiat for financial stability.

I'd be surprised to see real estate companies accepting Bitcoin directly without having to rely on a payment processor for immediate Fiat conversion. But so far, nothing like this exists yet. I believe that the most trustworthy way to buy real estate is through BitPay. After all, it's one of the most trusted payment processors for BTC to Fiat transactions in the mainstream world. I've seen many shady companies accepting Bitcoin for payment which are not widely recognized worldwide. To my knowledge, renowned real estate companies in the US haven't accepted Bitcoin yet. So it'll take a long time before someone will be able to buy real estate confidently with their Bitcoin.

Nonetheless, time will tell us if accepting Bitcoin or any other cryptocurrency for real estate will be worthwhile. As long as the crypto/Blockchain space remains widely unregulated, mainstream real estate companies will continue to rely on Fiat payments within the mainstream world. Just my thoughts

[MWesterweele]

You can purchase real estate for Bitcoin, using sites such as Bitpremier and there is nothing unusual about it. But all these sites use a third party payment processor to immediately convert your coins to fiat currency. You are paying the amount in Bitcoin, but the prices are pegged in either United States Dollar or Euro and in the end the individual who is selling the property will be receiving the money in fiat. Due to the volatility associated with Bitcoin, it is not practical to accept it directly for such transactions.

That's the real issue. Why accept Bitcoin if you're going to quickly convert it to Fiat? If Bitcoin wants to be used as a real currency for day-to-day transactions, people and mainstream businesses need to "hodl" it instead of converting it to another currency. Of course, this is largely attributed to Bitcoin's volatility in price across the market. As long as Bitcoin fluctuates in price, businesses and merchants will have no choice but to convert BTC into Fiat for financial stability.

I'd be surprised to see real estate companies accepting Bitcoin directly without having to rely on a payment processor for immediate Fiat conversion. But so far, nothing like this exists yet. I believe that the most trustworthy way to buy real estate is through BitPay. After all, it's one of the most trusted payment processors for BTC to Fiat transactions in the mainstream world. I've seen many shady companies accepting Bitcoin for payment which are not widely recognized worldwide. To my knowledge, renowned real estate companies in the US haven't accepted Bitcoin yet. So it'll take a long time before someone will be able to buy real estate confidently with their Bitcoin.

Nonetheless, time will tell us if accepting Bitcoin or any other cryptocurrency for real estate will be worthwhile. As long as the crypto/Blockchain space remains widely unregulated, mainstream real estate companies will continue to rely on Fiat payments within the mainstream world. Just my thoughts

You have a point its good to hold your Bitcoin than converting it in fiat than used it for your daily liviing, also still good to have Bitcoin for long time because the value of it is increasing. Also I feel regret for not having take advantage of a situation to hold it for long time especially when the value of Bitcoin rise. I think before I buy a real estate Im make sure I have extra money through my salary from my work so that my bitcoin will remain to my wallet and hold it.

[BuNga_cute]

We could just buy real estate with bitcoin, but the conditions are whether the country where the real estate has legalized bitcoin.
If the country prohibits the use of bitcoin as a payment then this real estate transaction cannot occur. If a transaction is forced
to occur, it will involve legal problems in the future. It turned out that real estate sales were not legal.Because buying real estate
is different from buying goods, there are a number of documents that must involve government institutions.

[gundala]

I don't think its possible to directly transact real estate transactions with bitcoin, too many legal issues. Maybe someone buying a car and the seller is accepting Bitcoin is something common but for real estate its not really possible to do directly.

Basically your real estate lawyer needs to get your funds to send to the sellers real estate lawyer, he most likely won't accept Bitcoin. Neither will the other lawyer. And if the seller still has a mortgage on their property the bank will want actual fiat and not Bitcoin to close the mortgage. I just don't see this being widely adopted anytime soon. Also what happens if the transaction is double spent? Exactly. Too many things can go wrong.

It's not easier, it looks even harder. Especially if you already talk about the law. We know that bitcoin is full of controversy and its use is restricted in some countries. So this needs to be studied specifically so that it is not in vain. If fiat is more effective, why complicate it? Is not it?

Another story if the real estate provider offers alternative payments with crypto, surely they have also considered it legally. But if you remember cryptocurrency is very volatile, it's quite difficult to be used as a price reference.

[FanatMonet]

There have been offers on the market for a long time, but, for the most part, in any case, people do not yet trust such a purchase en masse. Too strong a bitcoin exchange rate can change, and if it grows, it’s good, but if it falls, then it incurs losses for the seller.

[taufik0911]

sooner or later realestate large companies will definitely accept bitcoin or cryptocurrency. This is only a small comparison, namely a large smartphone company, that is, Samsung currently uses blockchains on its newest smartphone, it proves that cryptocurrency must be received sooner or later.

[Mia44]

I have read an article about a car dealership in Texas, USA accepting bitcoin to pay, even a Rolls-Royce car, It is also a great asset. So using bitcoin to buy real estate is feasible, it's just a matter of sooner or later and maybe it happened.