Can you Buy A House In Arizona With Cryptocurrency?
The short answer is Yes. You can buy a house with cryptocurrency. You can also sell a house for cryptocurrency. You can even do the whole transaction on the blockchain. This makes the transaction more secure and quick.
It’s completely possible to buy a house in Arizona using cryptocurrency. I’m not talking about you having to liquidate crypto into cash and then purchase. I mean you can legitimately pay for the home using cryptocurrency.
When I have a client that wants to purchase a house using cryptocurrency I have a special title company called Propy that is capable of accepting payment for the house in crypto and can then pay the seller in crypto or exchange it into cash for the seller if they so desire.
I’m really excited for this new ability that Propy provides, because it will allow more people to be able to purchase a home using crypto, but could also bring more legitimacy to the crypto community by tying it to real property. It will also allow sellers to accept offers from more buyers and not cut them out simply because they don’t use fiat money.
Propy is a special title company that specializes in this type of transaction as well as having the appropriate legal support to carry out such transactions. This is important since in real estate transactions it is important to Know Your Customer (or KYC in short) to avoid money laundering.
The title company also has the ability to make an NFT for your property that can be transferred on the blockchain while simultaneously transferring ownership rights of the actual property in the local jurisdiction of the property itself.
Propy has all of these abilities while still doing everything else a traditional title company would do as well. This doesn’t limit them to only dealing with cryptocurrency and NFT’s but allows them to bridge the gap between current title practices and title practices of the future.
I’d have to say my favorite thing Propy is doing is allowing people to use the value they have stored in their crypto wallets and purchase something as stable as real estate. If you want to know about purchasing a home using cryptocurrency in Arizona give me a call at 480-252-3608.