Are you able to buy a house with bitcoins yet?

Question

I dont know how real estate transactions work yet, but are Bitcoins acceptable yet? Does it depend on the seller?

Scott R. · Answer

It's bad? I dunno about that. I think it's still too early to tell.  The bitcoin I bought in 2016 is looking like a pretty good move. Buffet may not be a fan, but Chase, Goldman and other major institutions are now working with it. Quite a few hedge fund + analysts think we could be seeing quite a run up in the next few years.

Theresa Harris · Answer

As long as both parties agree, you can buy a house with anything.  Most people will want cash, so sell your bitcoins and get real money.

Andrew Freed · Answer

I have been pre-approved showing cryptocurrency as an asset. I am sure once I get to the closing stage, I will have to convert it to cash but you can at least delay the sale of the crypto if you think the asset might increase in value. Crypto is super volatile so a 10% increase in a 30-45 day period definitely seems reasonable.

Dave R Ludolph · Answer

@Scott R. We will. Ohhhhh boy we will.

Adam E. · Answer

A house can be "bought" with anything, as long as both parties agree to it. As home prices were booming in SF around 2015 buyers were paying sellers with stock equity in private companies that hadn't gone public yet. Those were crazy times.  Buying a home is just a trade of one good for another. It could be another property, cash, bitcoin, or some series of things that started with a paperclip.  https://en.wikipedia.org/wiki/...

All of that said, market norms typically dictate what is accepted which in turn is driven by perceived value and liquidity so most buyers probably wouldn't take bitcoin.

Sandy Sawyer · Answer

I think it makes more sense to sell the Bit coin & use the cash to buy real estate. I mean, it’s a hard enough thing to find the right property & negotiate terms. Bringing in another speculative means of payment muddies the waters as far as exactly what you are offering. It’s like you are asking the seller to gamble on the possibility that the Bitcoin will be worth even more by the time you close. Reminds me of “Let’s Make a Deal” (really showing my age now) where you pick one of 3 curtains to see what you bargained for. It’s too novel an idea to layer the risk you are asking the seller to take on. If you’re not careful, you’ll think you’re getting a great deal, but you are the sucker!

Dave R Ludolph · Answer

I know you can leverage your bitcoin for down payments! There are several companies doing this now! Some centralized and some decentralized!

Matthew Beans · Answer

As a loan officer... I can do loans using Bitcoin :)

Nathaniel J Mott · Answer

Bitcoin was designed to only have a certain amount in circulation. Scarcity gives it its value.

Chris Gawlik · Answer

Bitcoin is really bad. Just another fiat currency. Gets its value from what people think its worth. If investor confidence starts to fade the currency will drop like a rock. Its even worse then our own dollar.

https://www.cnbc.com/2018/05/0...

Are you able to buy a house with bitcoins yet?

Most Popular Reply