Real Estate for sale for Bitcoin

[Debbie Thomas]

I have an off-market lake front 76-acreage property in Austin, TX. The asking price is $16.9M.  I have been talking with the seller about accepting Bitcoin (It's now up to $50K.) I spoke with a Real Estate Attorney and a title company in Austin that have both had Bitcoin transactions.  I was just wondering if anyone out there has experienced this?  They said the contract is done as a CASH deal.  The Bitcoin is exchanged to USD through Bitpay. I'd love to hear from someone who has done a Bitcoin Real Estate transaction!

[Nathan Gesner]

You can buy a house with anything you want as long as both parties agree. I wonder how many chickens it would take to purchase a $16.9 million property?

Bitcoin is volatile and I would be worried about protections. I've heard you can't reverse a bitcoin transaction, so if you're taken for a ride, there's no getting off.

Bitcoin is worth $46,000 today but it was worth $57,000 just five days ago. So your buyer may be able to afford the property when they make the offer, but then two weeks later they can only afford the garage and one bathroom.

If I were the agent, I wouldn't bother unless I were an absolute expert on bitcoin. If you do decide to go through with it, you may want a strong agency agreement that ensures you are paid with traditional funds, period.