The penthouse in the Netherlands is expected to be fully purchased with bitcoins for a total of one million euros.
The sale will be the very first real estate purchase in the Netherlands fully paid with bitcoin.
According to the Dutch online publication NOS, the buyer of a penthouse in Veghel is going to buy the property entirely with bitcoin. The property is currently on sale for a million euros.
First 100% Bitcoin Real Estate Purchase in the Netherlands
According to Van de Laar Mackelaardii of Sint-Edenrode, the purchase will be completed “in a few days.”
“Yes, basically we have someone who wants to buy it,” says Bart Greimans of Van de Laar Makelaardij. “Now we are figuring out exactly how to organize all this, but we will succeed,” he said.
Greimans believes the deal will be done. But selling real estate for cryptocurrency is rare. He states that there is no example of how cryptocurrency transactions are conducted to buy real estate. “… We need to work with lawyers to make sure everything is written correctly, for both the seller and the buyer.”
However, Greimans admits it is an exciting experience. Because it gives the business a chance to see how it can work.
Buying real estate with bitcoin is not a common practice around the world. At the same time, the real estate association NVM says that no trend has yet been observed.
BTC volatility makes selling difficult
NVM’s Mark van der Lee believes that bitcoin price volatility makes it difficult to determine the exact amount of real estate sales when using bitcoins. He says, “With the current system, this is almost impossible.”
Additionally, van der Lee believes that if the two parties are happy to close a Bitcoin deal, they will be happy to help. Lack of knowledge on how to access and use Bitcoin seems like a stumbling block.
Van der Lee admitted that he has no problems with BTC transactions. However, he does not think that the use of bitcoins is at the stage where it will still become a common use for purchases. Say, “I don’t think the market has gotten to this point yet. ”
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