How does it work?
General Overview
Q: What is Crypto Real Estate marketplace?
A: A platform where real estate transactions can be initiated and conducted using cryptocurrency as a medium of exchange. We are largest real estate marketplace where you can buy & sell properties with cryptocurrency. 1500+ listings in 40+ countries worldwide
Q: Is the process the same in all jurisdictions?
A: No, the process is jurisdiction-specific due to varying local laws and regulations regarding real estate and cryptocurrency.
Case 1: Seller Accepts Crypto Directly
Q: What are the steps for purchasing real estate with crypto directly from the seller?
- Find a Property: Search the marketplace for properties, inquire about a particular property and we will let you know whether the seller accepts cryptocurrency directly. Note: If you don’t find a particular property that meets your criteria on our website, feel free to inquire directly with us. Provide your specific preferences, and we will proactively search for a fitting property for you.
- Verify Legal Compliance: Ensure that using crypto for real estate transactions is legal in the jurisdiction where the deal takes place. Our experts will provide all the relevant information. Generally, all the locations represented on our marketplace are legally fit for direct crypto real estate transactions.
- Property Viewing: Together with our local partners, we help you arrange a visit to the property to assess its condition, location, and suitability for your needs.
- Conduct Due Diligence: Perform property inspections and legal checks.
- Secure a Crypto Wallet: Ensure you have a secure crypto wallet for the transaction.
- Negotiate the Deal: Agree on the price and terms with the seller.
- Transfer Cryptocurrency: Send the agreed-upon cryptocurrency to the seller. Utilize smart contracts for secure and transparent transactions whenever relevant.
- Complete Legal Formalities: Register the property as per local laws (see below).
Case 2: Crypto Needs to be Exchanged to Fiat
Q: How do I purchase real estate if I need to convert my crypto into fiat currency first?
- Find a Property: Search our marketplace for properties, inquire about a particular property and we will let you know whether the seller accepts cryptocurrency directly. In case the seller accepts fiat only, we will assist you through the crypto to fiat exchange process.
- Property Viewing: Together with our local partners, we help you arrange a visit to the property to assess its condition, location, and suitability for your needs.
- Compliance and Legal Checks: Ensure legality in your jurisdiction and perform all necessary due diligence.
- Choose a Crypto Exchange or Payments Provider: We will help you select a reputable crypto exchange or crypto payments provider to convert your cryptocurrency into fiat currency. We work with the largest and most reputable providers globally (Binance, Utrust etc). Our specialist will make sure that the conversion is optimized for tax & legal (KYC & AML) purposes.
- Negotiate and Finalize the Deal: Agree on the terms with the seller and prepare traditional contracts.
- Convert Crypto to Fiat: Execute the conversion, considering fees and exchange rates.
- Secure the Funds: Depending on the jurisdiction, you either transfer the fiat currency to a secure account first before completing purchase transaction or whenever legally allowed, you can also send the funds to the seller directly through the exchange partner.
- Payment and Legal Registration: Pay the seller in fiat currency and complete all legal formalities for property registration (see below).
Q: What additional considerations should I keep in mind?
A: Consider tax implications, exchange rate fluctuations, and transaction fees during the crypto payments transaction and / or fiat conversion. Our legal & financial advisors will be assisting you providing guidance and consulting along the entire purchase journey.
Completing Legal Formalities
Throughout the process and after the transfer is confirmed there is a range of legal formalities to legally register the property in the buyer’s name. Our real estate attorney and / or legal advisor will help you navigate these formalities, ensure legal compliance, and protect your interests. This process can vary depending on the jurisdiction, but generally includes the following steps:
- Preparation of Legal Documents: This includes drafting and finalizing the sale agreement and any other necessary legal documents that formally record the terms of the sale and the transfer of ownership.
- Verification of Seller’s Ownership: It’s crucial to verify that the seller has the legal right to sell the property. This usually involves checking the title deed and any related property records.
- Payment of Applicable Taxes and Fees: Depending on the jurisdiction, various taxes and fees may be applicable, such as stamp duty, capital gains tax, or registration fees. These must be calculated and paid as required by local laws.
- Property Registration: The property needs to be registered in the local land registry or equivalent government body. This formalizes the transfer of ownership and is a key legal requirement.
- Updating Local Authorities: Informing local municipal and tax authorities about the change in property ownership is often necessary for tax assessments and public records.
- Ensuring Compliance with Local Regulations: Depending on the location, there may be additional regulations to comply with, such as building codes or homeowner association rules.
- Legal Representation: Our real estate attorney and / or legal advisor will help you navigate these formalities, ensure legal compliance, and protect your interests.
Additional Information
Q: Where can I get more information specific to my jurisdiction?
A: Consult with our own real estate experts and / or financial advisor, or local partners who are knowledgeable about cryptocurrency transactions and local real estate laws.