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Updated 12 days ago, 11/08/2024
Payment through BITCOIN
Hi! I'm under the process of buying a house, not using a realtor.Contacted the seller through email and responds to me always.
I'm just a little bit skeptical in this transaction.
Is there anyone buying real estate using BITCOIN? The seller want me to pay 1%emd through Bitcoin , then
he'll show me the house. They sent me contract of purchase and I'm still holding into it. I'll pay thru this if this is real deal
but how do I know I'm dealing with the right person?
EMD before seeing the house and directly to someone else ... in Bitcoin ... sure shot way of losing your money ... most likely its a scam ..
- Rock Star Extraordinaire
- Northeast, TN
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Don't do it. Cash is king. As in real cash backed by the full faith and credit of the United States government, however shaky that may seem ;)
- JD Martin
- Podcast Guest on Show #243
@Annabelle A. Let's say you move forward . What legal options do you have, if something goes wrong? How much legal $$$ could this cost you? To put it nicely, I would proceed with extreme extreme caution, if I were in your shoes.
Everyone you ever need to do business with will offer enough transparency to show their authenticity and legitimacy.
With the internet there is an abundance of good people to do business with and most are fighting to prove they are such. The ones still hiding in anonymity are the obvious scammers.
Also, bitcoin in this instance is a pretty glaring red flag.
1. Nobody pays an EMD before seeing the house. You pay an EMD when you submit your offer, and then you only give it to your realtor.
2. Nobody is using bitcoin to buy and sell real estate in normal situations.
3. There is absolutely no way for you to get your money back from someone after paying them in bitcoin.
4. As much as investors tend to complain about realtors, I'd strongly suggest that YOU need one since you sound very new to the game. They are FREE for you as a buyer, and the only sellers in my experience that are trying to get you to not use a realtor are either trying to rip you off or are crazy. Realtors also have insurance, tons of regulation, and hopefully experienced brokers that are all very interested in protecting you from scams during the home sale process.
This is a scam. Like the Mens' Wearhouse TV guy says: I GUARANTEE IT
Absolutely not run as far away as you can from this person, they are at the very least shady if not an outright scammer.
WOW! I'm overwhelmed with all the responses. Thank you for warning me in this situation.
Gladly I reached out to you guys! Thank you so much for your time and for saving me...
I'll try to get a realtor and see how this one goes. I'll update you.
@Annabelle A. SCAM - move on. Bitcoin can't be taken back and is untraceable which is why they want you to pay that way. Any deposit should by held by a third party in escrow.
How did you get the person's email address?
Emd before looking at the house? I don't think so.
Do I HAVE to use a realtor? No. I don't and a haven't in a VERY long time .
Bitcoin for payment? Sure! I use it quite often as well as other cryptocurrencies and they're gaining popularity. I also take pesos, gold, silver, cars, motorcycles, trade houses, airplanes, stocks, bonds.... etc... to piece a deal together and get paid! And you should too! It's called business. Never limit yourself as to how you're gonna get paid.
99.99% of the time, I've come out ahead because I've taken the extra step to accommodate my customer.
Here's one for you all....
"You'll NEVER go broke taking a profit."
Jus' saying....
Originally posted by @Account Closed:
How did you get the person's email address?
I found through the website “My House Deal.com... which shows great discount and when I clicked on that property, it will show the contact person. So I initially contacted him thru email. On that website shows a lot different price compared to Zillow.
Originally posted by @Angel Gutierrez:
Emd before looking at the house? I don't think so.
Do I HAVE to use a realtor? No. I don't and a haven't in a VERY long time .
Bitcoin for payment? Sure! I use it quite often as well as other cryptocurrencies and they're gaining popularity. I also take pesos, gold, silver, cars, motorcycles, trade houses, airplanes, stocks, bonds.... etc... to piece a deal together and get paid! And you should too! It's called business. Never limit yourself as to how you're gonna get paid.
99.99% of the time, I've come out ahead because I've taken the extra step to accommodate my customer.
Here's one for you all....
"You'll NEVER go broke taking a profit."
Jus' saying....
@Angel Gutierrez:.. Thanks for sharing your open minded with crypto world. I’m sure it’s a business... but for novice like me and new to Bitcoin, we always have this high risk that we can’t afford. Hopefully I will learn that too to be in the same game.
@Annabelle A. Don't pay EMD in any way before seeing the property.