Buying real estate with Bitcoin

[Abiky]

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?

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[avikz]

I don't think any real estate company in the world accepts bitcoin, apart from Japan! Because Japan is the first country where bitcoin were announced as a legal tender. But I don't think that is the case for the rest of the world. However, I found few websites where similar offers are being advertised. But I am not sure how legitimate they are. You can check the below links,

https://bithome.ch/
http://bitcoin-realestate.com/

But be very very cautious before connecting with them because their offers seems too good to be true! It may be a fraud as well! I really don't know about any trusted dealer where you can use your bitcoin to buy real estate!

[ChrisPop]

Bitcoin has become a recognised asset all over the world. It's just that most of the people are not comfortable with the high volatility on cryptocurrencies. That's the reason why many people have not started allocating a big part of their savings to it. Bitcoin can be exchanged to fiat at any moment so I don't see why would anyone reject BTC as a payment especially if they are not a big businesses that needs to respect a lot of regulations and accounting laws.

[The Sceptical Chymist]

This makes wonder whenever it's possible to buy real estate with Bitcoin?

This topic has been brought up before, as I remember seeing at least one other thread asking this same question--and I do find it an interesting one.  I do recall seeing someone selling their house on bitcointalk a few years ago.  The OP provided pictures and all, though I can't remember which country it was in.  And in another thread someone mentioned a huge real estate sale that happened with bitcoin being the payment method.

But those cases are isolated and rare to the best of my knowledge.  I don't think there are any real estate agents or mortgage brokers who deal with bitcoin routinely, nor do I think there's a huge demand for that service.  People barely spend bitcoin on little things, and the number of people with enough bitcoin to purchase a house or land is probably very small.

And besides, I see bitcoin as an investment more so than a currency.  Buying a house with bitcoin would be like buying one with gold or stocks.  It just doesn't make much sense--that's what fiat is for.

[Aikidoka]

I haven't seen people who buying estate with bitcoin but it could be possible in some countries like Japan, because we already know that bitcoin is legal in this country since months. It's really a good idea to buy houses with bitcoin and I hope that I can see that available in the future and in many countries in the whole world.

[viennemariela]

Well, I think real estate compared to the transactions you've mentioned is far bigger. I don't think any real estate company besides those in Japan, or may be not also, would take a risk.

[Step_By_Step]

Our community has enough wealthy people to support buying and selling of real estate, so it is bound to happen this decade.

[Ratash]

They should start using bitcoin as payment currency we are in 2020 and the technology is moving fast and with bitcoin's privacy and the dencentralized aspect people will be interested in it.

[Anora2020]

Beside the Bitcoin record with a highest rating, it is not far to do other variety by help of the very influence people in the community and other way of earnings by help of Bitcoin.

[LeGaulois]

If there is an increasing demand, don't worry, you'll suddenly see many real estate agencies that will start to accept Bitcoin right away. Particularly on high-value assets, they won't want to give up their sales commission. They will quickly learn how to use BitPay or other solutions.
Follow the money, if there is money to be made, everything can be bought with Bitcoin. As long there is a profit, you will always find someone to take it.

Furthermore, the real estate industry is one of the preferred channels for money laundering so I wouldn't be surprised if sales in BTC occur more than what we think or read here and there.

But a seller may not be interested in being paid in bitcoins and absolutely want the payment in fiat, the volatility argument or whatever, it's understandable (the simple solution would be to set the price in fiat and to pay with bitcoins). He may also have difficulties declaring to the fiscal agency the amount and/or the sale itself, etc. He also needs to trust the buyer a little more than the average buyer.

@The Pharmacist
I remember it, it was an apartment for rent in Croatia

[elisabetheva]

if it can, it is an update and is a significant progress and can be interpreted that bitcoin is highly recognized. this is certainly a very good news and will increase bitcoin . but is it as easy as thought because there are still many countries that have not recognized that bitcoin is a legal payment instrument other than fiat.
of course many regulations are made to be able to realize this and not easy it seems not yet for now.

[enhu]

The seller of a real estate property can be considered a real bullish BTC believer if he does that. When BTC going up to $20k again and media rushes to report everything about the technology of BTC, there may really be people selling their properties for BTC. My parents house is going to be for sale if my siblings agree, this is if they are up to fight for their share.

[Rengga Jati]

-snip- 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?

In my country, we cannot buy anything with Bitcoin except you convert it to Fiat on exchanges. You know that the laws in our country only authorize buy-sell with our national currency. So, it is still impossible to buy a single real estate with Bitcoin because no mainstream companies or businesses will agree with that payment.

I think this may happen in countries that legalize the Bitcoin and allow the citizens to use it for payment tool. Yes, for the examples: Japanese, Germany, Switzerland, etc. Check the more information here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

*If the Bitcoin is legal for a payment tool in a country. Then, there is a chance to buy real estate there.

[vicoma]

There are some projects that are tokenizing their real estate. For example, Instant Assets Tokens is a real estate company that are accepting digital assets in an exchange for real estate properties. To summarize it all, digital assets holds the future.

[dothebeats]

This makes wonder whenever it's possible to buy real estate with Bitcoin?

This topic has been brought up before, as I remember seeing at least one other thread asking this same question--and I do find it an interesting one.  I do recall seeing someone selling their house on bitcointalk a few years ago.  The OP provided pictures and all, though I can't remember which country it was in.  And in another thread someone mentioned a huge real estate sale that happened with bitcoin being the payment method.

But those cases are isolated and rare to the best of my knowledge.  I don't think there are any real estate agents or mortgage brokers who deal with bitcoin routinely, nor do I think there's a huge demand for that service.  People barely spend bitcoin on little things, and the number of people with enough bitcoin to purchase a house or land is probably very small.

And besides, I see bitcoin as an investment more so than a currency.  Buying a house with bitcoin would be like buying one with gold or stocks.  It just doesn't make much sense--that's what fiat is for.

https://bitcointalk.org/index.php?topic=508254.0

I'm not entirely sure whether this is what you're talking about or not, but I do remember a couple of threads mentioning that they were selling their properties for bitcoin. If ever they were successful though, I'm pretty sure they had a hard time dealing with tax and all that sort of stuff but hey, at least they profited from that deal so all is well!

As for it being a plausible idea or not: nonone knew. It was an entire gamble from the start and I know for a fact that the sellers of the property/ies know that as well. There really isn't much to be had on bitcoin back then and all people clinging on to after going all in is hope and luck. It'd be rare to find genuine brokers/real estate agents selling properties for bitcoin--though of course there are rare exceptions from exotic properties and all that high-end stuff.

[diahsw]

I think it can be done, if all real estate parties understand bitcoin. Unfortunately, in the real estate company there are still many who do not understand bitcoin, so it is very difficult to explain them from the start ... !!

[SophieMil996]

This makes wonder whenever it's possible to buy real estate with Bitcoin?

This topic has been brought up before, as I remember seeing at least one other thread asking this same question--and I do find it an interesting one.  I do recall seeing someone selling their house on bitcointalk a few years ago.  The OP provided pictures and all, though I can't remember which country it was in.  And in another thread someone mentioned a huge real estate sale that happened with bitcoin being the payment method.

But those cases are isolated and rare to the best of my knowledge.  I don't think there are any real estate agents or mortgage brokers who deal with bitcoin routinely, nor do I think there's a huge demand for that service.  People barely spend bitcoin on little things, and the number of people with enough bitcoin to purchase a house or land is probably very small.

And besides, I see bitcoin as an investment more so than a currency.  Buying a house with bitcoin would be like buying one with gold or stocks.  It just doesn't make much sense--that's what fiat is for.

Yes, a lot of people believe that bitcoin is an investment.

I don't forget that bitcoin is meant to be a currency.

[Twinkledoe]

I think it can be done, if all real estate parties understand bitcoin. Unfortunately, in the real estate company there are still many who do not understand bitcoin, so it is very difficult to explain them from the start ... !!

Exactly! Because most of them heard about bitcoin or blockchain, but in reality, they don't even know where to start or how to make a transaction. Once they fully grasp the nature of bitcoin and how it is being manages, then, they can proceed the acceptance of bitcoin. But with the high cost involved in real estate, it is not common to use bitcoin or cryptocurrency in this industry but rather they still prefer to transact using fiat currency. But yes, it is possible.

[boyptc]

It's not early. I think with few search on google, you'll see those sellers that are willing to accept bitcoin for their properties. Like this --> https://cryptopotato.com/bitcoin-buys-real-estate-15-3m-condo-sold-using-bitpay/

But with the use of bitpay.

[Shasha80]

In my opinion it is very unlikely that buying real estate with bitcoin, because bitcoin is used to pay for smaller things alone rarely
especially in large quantities such as buying real estate. Looking at volatile bitcoin prices is very risky to make transactions buying
real estate. So bitcoin is more suitable as a digital asset like it is stock and gold, because in my opinion for buying real estate is
better if you use fiat.