Contact Us For A Consultation
302-644-7181 Lewes
302-697-4900 Camden

Accepting bitcoin for residential real estate a risky trend

In almost every industry, the trend of cryptocurrency is having an impact. Residential real estate is no different. Delaware real estate buyers, sellers and professionals should be aware of some of the activity in other states and how it may impact their markets in the future.

Among the activity are home listings, primarily in California and Florida, where Bitcoin is being accepted as tender. In New York City, a pair of condos were recently put in contract to sell using the cryptocurrency. There are many questions this activity raises. Is this the best option for large real estate purchases, given the high-risk nature of this fluctuating currency?

Those looking to purchase residential real estate with Bitcoin will be taking a bit of a gamble, as the currency has changed values by a large margin over the past year. In fact, the amount of Bitcoin that would be needed to buy a $45 million home in April 2017 could have purchased 13 such buildings by the year's end. Some real estate professionals and developers, such as the developer of the aforementioned New York City condominiums, insist that despite these dramatic fluctuations, cryptocurrency is here to stay.

There are some obvious drawbacks to using or accepting a currency that could dramatically alter in value at a moment's notice. However, one benefit of accepting the currency that other sellers have experienced is extensive news coverage and advertising of residential real estate for sale. Delaware sellers and buyers alike should think carefully before entering into any real estate deal, especially such an unorthodox one. A real estate lawyer can help answer any questions people may have about legal matters related to buying or selling property.

Source: buzzbuzzhome.com, "Should you think twice before buying a home using Bitcoin in the US?", Robert Clark, April 13, 2018

No Comments

Leave a comment
Comment Information

What Our Clients Say About Us…

My wife and I would like to take this opportunity to highly recommend the legal practice of Bonnie Benson and her very professional staff… Bonnie and her staff are organized, engaged in the client's case and they communicate effectively.

Read More
Latest Blogs
Get The Help Now

Need Answers Now? Contact Us Immediately

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

your success. our commitment. elder counsel excellence in elder law  and special needs state bar delaware association

Camden Office
306 East Camden Wyoming Avenue
Camden, DE 19934

Phone: 302-697-4900
Fax: 302-697-4901
Camden Law Office Map

Lewes Office
33718 B Wescoats Road
Lewes, DE 19958

Phone: 302-644-7181
Fax: 302-644-7182
Lewes Law Office Map

We Accept visa mastercard discover network
Review Us