Closing Real Estate with Bitcoin (Recap)

We just wanted to take a minute thank everyone who showed up at Bitcoin in Real Estate Seminar today. The turn out was unprecedented!

In case you missed it, here is a quick recap of what buyers agents and listing agents should concern themselves with when using Bitcoin to close a real estate transaction. Buyers Side

• Find a Title Company that converts Bitcoin

• Write contract as cash

• Inform your buyer of conversion process

• Fee’s associated with conversion 1-3%

• Underwriting and Processing time to convert to cash 3 Days

• Buyer must go thru underwriting to convert anything over 10K

• Prepare buyer to source and season bitcoin on financed deals

• Funds be converted 48hrs prior to close

Sellers Side

• Bitcoin is volatile. Get proof of funds.

• Buyer converts to cash and goes thru underwriting

• No Bitcoin to Bitcoin transactions

• Typical cash transaction

• Who Pays Title???