Updated almost 2 years ago on . Most recent reply
HELP PLEASE EXPLAIN: Using Cryptocurrency to buy a house
I received an offer can someone please help me. I am lost, I never seen this in my 13 years of real estate. I got a full price offer on my house for 125K however, the STIPS read this:
""30% of the price is to be PAID in Troptions Gold Cryptocurrency POC. Valued at $200/coins."" Can anyone please tell me what this means? Will I have a full price offer when all said and done?
""30% of the price is to be PAID in Troptions Gold Cryptocurrency POC. Valued at $200/coins."" Can anyone please tell me what this means? Will I have a full price offer when all said and done?
My guess is that the buyer structured this to where the purchase price will be $87,700 for the property. Just not sure.
Thank you!!!!!!
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Tell them no thanks. They are free to sell their cryptocurrency and then use that money as try downpayment.
You are promising to credit them $200 per unit. What if they are only worth $50? What if it costs 20% to sell? What if the “crypto coins” are stolen?
Who knows if they’re trying to scam you or the IRS but don’t make yourself part of it.