Buying & Selling Flagstaff Real Estate with Bitcoin
Bitcoin and cryptocurrencies have created a new form of wealth, particularly for those who purchased at its lowest value. Bitcoin is being used in over 250,000 transactions daily and its usage is only increasing. Bitcoin’s usage is only growing, and so too will its usage in real estate transactions.
Finding Real Estate Agents That Use Bitcoin
When using bitcoin to make your real estate transaction, you must be aware of real estate agents and companies that have experience of using bitcoin in the sale or purchase of a home. Knowledge in currency exchanges, wallets, platforms, smart contracts, property preparation and marketing are critical for successful transactions.
Using Bitcoin To Purchase A Property
If you plan to use cryptocurrency to purchase a property, you must first inquire whether the seller is accepting bitcoin. If the seller does not accept bitcoin, you must convert your cryptocurrency into traditional currency using a third-party website.
Some other options:
- Use your crypto as collateral.
- Direct crypto from buyer to seller.
- Use NFTs.
There are many advantages to purchasing a home using bitcoin, including:
- If you have made a profit from investing in bitcoin, buying property using the currency is a great way to consolidate your profits.
- Investing in property gives you a chance to diversify your assets.
- Real estate transactions favor cash buyers, and using bitcoin is like being a cash buyer, which can give you more negotiating power
Using Bitcoin To Sell A Property
If you wish to sell your property in exchange for bitcoin, you must first find a real estate and title company that has experience using bitcoin to make real estate transactions.
When listing your property, you must determine whether you are listing it only for bitcoin buyers or if you are willing to accept other cryptocurrencies or traditional currency. Once it is listed, buyers will make offers in your preferred currency or USD, and you can accept the offer and sell your home for Bitcoin.
Some of the advantages of selling a home using bitcoin include:
- The chance of appreciation offered by owning bitcoin.
- If you open up the sale of your home to bitcoin buyers, you will widen your audience and attract more cash buyers.
Agents:
If you're a little (or a lot) overwhelmed with the potential of a listing or buyer that wants to use crypto for real estate, let's talk. We are happy to assist you in completing the transaction successfully as a member of your team.
Crypto Holders:
Looking for crypto backed mortgages without cashing out? Check this out:
Summary
Like many other transactions, real estate transactions are starting to accommodate the use of cryptocurrency to buy and sell houses.
Buying and selling for bitcoin is indeed possible and grants sellers the opportunity for gains and portfolio diversity.
Chad Dragos is the first and only (known), Crypto Certified Agent for Flagstaff and all of northern Arizona. We use the latest platforms, technology and advancements to help secure your financial future.
