Buying real estate with crypto?
- Thread starter freedomseeker
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It is feasible, and is becoming more and more frequent. You just need to have a lawyer/notary (depending on the requirements of your country) that understands crypto.
You can find plenty of solutions in the USA, I have myself purchased a property in crypto in the Caribbean and I am selling a beachfront villa in the Bahamas with a 5% discount if paid in crypto.
From a legal point of view, a real estate can be bought with anything, as long as the seller agrees, including seashells.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I'm curious why would you offer such a discount... what makes the difference/advantage?
Because I don't hold fiat, so if I were to receive fiat on a bank account, I would then move it to an exchange for conversion, waste time with due diligence, accounting, exchange fees etc. The 5% discount covers what I would instead lose in terms of time, fees and stress.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
ok, I get it, however 5% seems rather big discount for all that anyway
if you don't hold fiat and will sell for BTC how will you pay your taxes if any?
5% is fine for me, very happy to pay for avoiding having to deal with banks. If the buyer doesn't like crypto, bad for him, he will pay 5% extra. In fact, I should better set a price in crypto and apply a 5% surcharge for fiat payment. 😛
I buy fiat for everyday expenses on a monthly basis if I don't happen to have received enough from business and I will use fiat to pay the lawyers, duties and real estate agent commission if I don't manage to convince her to accept crypto.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I know of someone in Cyprus accrpting crypto payments for selling apartments for investment which also have a rental income at 3.5-4%. KYC is held to a minimum and buyer only just makes a statement on the sales contract that the crypto funds are from legitimate sources.
This seems a bit shady”¦ in the crypto real estate deal I made we (buyer and seller) had to indicate the wallet addresses in the deed, in addition to all the usual requirements.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Nothing shady actually, wallet addresses and other identification information required to close the sale are there but they are also kept tighty to ensure a smooth transaction.
I'll say I'd gladly shave off 10% on prices to be paid in crypto. Or like you say a penalty for fiat payment even better.
So you just keep everything in crypto/stables and off-ramp as needed?
Exactly! Mostly in DeFi for % and some Lombard loans for a few non crypto financial investments
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
One must do his own research with DeFi, there is no “regulator” to save your a*s. A couple platforms i invest in are clearly Ponzi schemes, and I treat them as such. Ponzi schemes are the best investments when spotted early, it's free money!
For Lombard loans, any bank that deals with digital assets should be able to set them up. I don't recommend any bank in particular because I consider all banks to be criminal operations and I treat them as such.
You could also get a loan against crypto on a defi platform, use it to buy traditional financial products and use those products to obtain a Lombard loan - and repeat if you wish.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Wasn't really interested in ponzi schemes etc (FYI relief defendants can be investors)
I was specifically referencing the property.
Ah sorry, there is a post somewhere here with photos (Bahamas beachfront villa).
The property is not officially for sale yet, I'm still renovating it but it is possible to buy at this stage and complete the interiors to one's own taste.
Renderings:
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
so basically it's money laundering...
Just because you turn a blind eye to the source of the money is no excuse. Le's face it....We know what is really going on here.
Hello
Its weird that you assume that everyone buying stuff with crypto is doing money laundering.
I agree. It's a fraction of the money floating in crypto that is used for such kind.
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Why would you assume this? I have completed several real estate purchases for clients using crypto, the KYC that is being undertaken is very thorough, completing due diligence on the wallets themselves using appropriate KYC tools. There is nothing shady here, provided that all proper checks are completed.
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