Mansions at Acqualina #3001
17749 Collins Ave, Sunny Isles Beach, FL 33160
Seller will accept Cryptocurrency as payment.
When it comes to real estate, people are starting to make purchases with some types of funding that are a bit different from the traditional way of buying a home. They are using Bitcoin, a form of cryptocurrency, to buy their homes. This is helping to bring the currency even more into the mainstream, and it is changing the way that people view Bitcoin. Over the course of the last couple of years or so, there have been more and more companies willing to work with buyers who want to utilize cryptocurrency.
The Early Days of Using Bitcoin for Real Estate
In 2013, a real estate broker company in Manhattan called Bond New York began to accept digital currency for real estate transactions. They claim to be the first company in real estate using Bitcoin, and while they might have gotten in early with cryptocurrency, plenty of other companies have started to see that this is just another means by which people can buy a home. Those real estate companies who do not embrace the idea of working with cryptocurrencies like Bitcoin are limiting themselves.
In October of 2013, a homeowner in Long Island said that he would accept Bitcoin for the home he was selling. He believed that this tactic would help to get his home more attention, including attention from younger buyers and international buyers. The seller, Phillip Preuss said that he was already utilizing the cryptocurrency for other things, and he thought it would be a good fit for real estate. At that time, very few people in real estate had any idea what cryptocurrency and Bitcoin even was, but those times are changing.
The first company to conduct a Bitcoin only transaction in Texas goes to Kuper Sotheby’s International Realty. This purchase was finalized in the summer of 2017 and the sale of the home, which was a newly built custom property, was smoother than even the agent expected. She said that it only took about ten minutes to change the Bitcoin to US dollars, and the deal was complete.
With people finally understanding Bitcoin and how it works, we are starting to see it crop up more, with more uses of Bitcoin in real estate deals; and this is likely to continue.
Are You Using Bitcoin for Your Properties?
Bitcoin has already made an impact in restaurants and in many retails stores. It was only a matter of time before it started to become a part of real estate transactions, as well. If you are looking for a home in the Miami area, and you have Bitcoins that you would like to use with the transaction, whether it is for part of the payment or the entire payment, Sunny Isles Real Estate can help. In addition, if you have a home that you would like to sell, and you want to entertain the idea of taking Bitcoin as payment, we can help you facilitate those types of sales.