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Gary Frimann, CRS, GRI, SRES, REALTOR and Broker, Notary (Eagle Ridge Realty / Signature Homes & Estates)

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Rainmaker
832,412
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

We had a home listed here the seller wanted to be paid in Bitcoin. I am not sure what happened in the end it was back in March, seller wanted 12.5 Bitcoins. CRA states that when sellers is using Bitcoin same tax rules apply. (CRA = Canada Revenue Agency)

 

Nov 01, 2021 06:35 PM
Rainmaker
4,773,444
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

There has been no limit of real estate stories about all kinds of things happening but do such things really occur?  Well, it's true that the stories never end.  And that's my position on the subject.   At least kinda.  🙃

Nov 01, 2021 06:02 PM
Rainmaker
1,544,344
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The escrow company I use has handled those transactions and I've attended a webinar on them from someone who's bascially invented the process for California.  Personally, I'd steer clear of any transaction that did not at least convert them to real money first.

Do know a guy who had a listing where the seller included an NFT of the house with the sale of the house.  He got some good press from that.  Apparently the guy was known for making NFTs.

Nov 01, 2021 10:35 PM
Ambassador
5,028,145
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have not heard of it happening but I believe it will in the future.  It seems like cryptocurrency is the future.  Governments don't really support it though since it would take away some of their abilities to be corrupt, haha.

Nov 02, 2021 04:28 AM
Ambassador
6,740,884
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

No, we use real money here.

Nov 02, 2021 01:48 AM
Ambassador
3,290,128
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

It is suggested to use cryptocurrency for day trading or online purchases. Have not heard of anyone purchasing a home with it Gary. 

Nov 01, 2021 06:25 PM
Rainmaker
1,272,429
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I've heard stories but never anything that was confirmed

Nov 02, 2021 06:44 AM
Rainmaker
696,674
Ray Henson
Retired - Goodyear, AZ
Retired Real Estate Agent

I have not seen anyone make a purchase with Cryptocurrencies.  I hold a small amount of cryptocurrencies.  I will not buy anything with them.  I am going to hold for at least five years and see what happens.  If things go well, who knows, I might buy a house with crypto then.

Nov 02, 2021 05:23 AM
Rainmaker
5,532,837
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Nope. So happy to be retired in these confusing times. And my grandson is happy too!

Nov 02, 2021 04:21 AM
Rainmaker
4,397,089
John Pusa
Glendale, CA

Hello Gary Frimann, CRS, GRI, SRES I heard about somebody buying a home using cryptocurrency, but I don't think it was true.

Nov 01, 2021 07:59 PM
Rainmaker
1,467,009
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I have heard that there is a broker in Southern Cailfornia who seeks clients who want to sell/purchase using cyrptocurrency. I have not heard of any transactions using such currency in my market.

Nov 02, 2021 07:05 AM
Rainmaker
8,207,877
Roy Kelley
Retired - Gaithersburg, MD

Nope.

Nov 02, 2021 04:12 AM
Ambassador
3,441,240
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I wonder if that person had insider information about the stock?  

I do not know of any real estate transactions using cryptocurrency. 

Like Raymond Henson, eXp Realty I own $XXXXX of cryptocurrency and the plan is to hold it for 5-10 years. 

I recently attended a Zoom webinar sponsored by the Silicon Valley Bar Association. The attorney presenting was definitely knowledgeable in that arena. 

Nov 02, 2021 08:35 AM
Rainmaker
6,040,265
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have not yet heard of any.

Nov 02, 2021 07:03 AM
Rainmaker
1,873,328
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I have not heard of 'actually' happening. Lots of rumors & stories like Michael Jacobs states. 

Nov 02, 2021 06:00 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I have been asked if seller will accept bitcoin. A: No
I have noticed on MLS remarks bitcoin as consideration.
I am unaware of any closing using crypto-currency.
I think I'll run this by my broker and see if this is an option based on the one imposing the rules.

Nov 02, 2021 04:46 AM
Rainmaker
1,303,462
Peter Mohylsky,
PMI. Destin - Inlet Beach, FL
Call me at 850-517-7098

The stories run rampant but I have no actually experience.  I guess it could happen.  I am not old enough to see horses and cows being exchanged for property but I have heard those stories too.  

Nov 02, 2021 07:30 AM
Rainer
509,499
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

I'm not aware of any (yet).  

Nov 02, 2021 04:26 PM
Rainmaker
5,774,106
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Gary,

We have heard it happening, but we do not know whether or not it is true.  As a seller, I would not accept cryptocurrency.  A

Nov 02, 2021 07:59 AM
Rainmaker
667,392
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Have not come across anyone yet, but know quite a few investing.

Nov 03, 2021 04:18 AM
Rainmaker
830,533
Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

A realtor/friend has a client from Argentina who wants to buy a house down here and wants to pay with bitcoins

Nov 02, 2021 12:18 PM
Rainmaker
685,002
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I know there are those who have, but I am not aware of anyone I know personally who has.

Nov 03, 2021 10:09 AM
Rainer
424,833
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

I know of two where they exchanged/sold into dollars like a stock sold to send a dollar wire. The company I work for is working on a loan with crypto currency.

Nov 02, 2021 03:51 PM
Rainer
421,185
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

no attorney here will take crypto currancy.  However, one buyer got "cash" from her brother for bitcoin so she kinda did.

Nov 02, 2021 10:51 AM
Rainmaker
1,655,012
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC • Short Sale • Probate

Yes, I'm in the escrow with a bit-coin buyer ( down payment only, since mortgage rates are so low). It is the second time I work with a digital currency dowpayment~ and both times the lenders have no to little idea how to deal with such client. No other issues. 

Nov 19, 2021 09:54 PM
Rainmaker
794,119
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I haven't heard of anyone buying with crypto and look at it like playing musical chairs.  Someone will be left without a seat.

Nov 03, 2021 11:09 AM
Rainmaker
935,558
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I've heard it was done somewhere, but I think it will be a rarely used method.

Nov 03, 2021 08:53 AM
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