Washington, D.C. Accepts payment of Condos in Bitcoin
In Washington DC four new condos were put up for sale and paid in whole or in part with bitcoin.
Residential Brokerage Venditti said the condos represented the first real estate offers in the district to accept bitcoin as a means of payment. He said he wanted to be on the cutting edge of new technology, and expect more bitcoin transactions in the future. His group has consulted his internal legal team and a securities company so that the sale can be processed in Bitcoin.
The condos have been converted into a single-family home, with stone counter-tops, recessed lighting, stainless steel appliances and hardwood floors in white oak.
One-bedroom condo on the first and second floor goes for $ 569,000 or 50 BTC and $ 665,000 or 59 BTC. A two-bedroom condo is available for $ 677,000 or 60 BTC, while a two-bedroom penthouse, offering a private rooftop terrace, is listed at $ 949,000 or 84 BTC.
Venditti said the developers are investing in bitcoin since they recognize that $ 8,700 worth of bitcoin in 2015 was appreciated as they now buy the entire building for $ 3 million.
Buyers use a bitcoin that is quite sufficient for any financing to ensure that the transaction can be completed as fast as possible, just as the value of bitcoin changes quickly.
Venditti also added the contract will contain a clause guaranteeing that buyers and sellers accept the risk that the value of bitcoin will change from the day of acceptance of the offer to bitcoin transfers from the buyer to the seller.
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