Buying Real Estate with Crypto Currency. In the last year, we’re starting to see home sellers stating that they will accept Cryptocurrency as payment. What type of buyer would use Crypto? Well, quietly 13% of real estate transactions are using crypto.
Crypto is designed to be free from government manipulation and control—although, as they have grown more popular, this foundational aspect of the industry has come under fire.
The cryptocurrencies modeled after Bitcoin are collectively called altcoins, and have often tried to present themselves as modified or improved versions of Bitcoin. Though some of these currencies have some impressive features that Bitcoin does not, matching the level of security that Bitcoin’s networks have achieved has yet to be fully realized. What does this mean to the buyer who has crypto? You can leverage an asset other than cash and can close in 24 hours.
The four major types include utility, payment, security, and stablecoins, of all cryptocurrencies, the most common are utility and payment tokens.
Buying Real Estate with Crypto Currency. What types of bitcoin will be accepted by today’s sellers? Stablecoins, Ethereum Bitcoin. Bitcoins are the most accepted tokens. There are also Defi tokens, NFTs, and asset-backed tokens.
Is Escrow different? Not really. The title records are on the blockchain, in addition to the title company. “Propy” is the company that manages the transaction.
One downside of crypto is that it is a volatile form of currency and its price constantly fluctuates relative to the value of other currencies. The home buyer and seller have to agree to a valuation on the RPA document, then any subsequent fluctuations are reconciled at the close of escrow. ABRI – will give loans based on your Crypto Assets. This lender will loan up to 40% on the dollar.
Click, Click, Close. When using Crypto a real estate transaction can close in as little as 24 hours.