Buying or selling a home involves a lot of things, it also raises questions. In this column ‘Ask Bob’, real estate expert/broker Bob Bartikoski of RE/MAX Paradise Homes Bonaire answers a real estate question from a reader. This time:
Question: I found a property on Bonaire and I’d like buy it. Can I use bitcoin to pay for my purchase?
That’s a really good question. If you want to purchase a house using bitcoin you will need to convert your bitcoin into either US Dollars or Euros, depending on the currency you decided to use to purchase the property.
The Notaris are unable to process real estate sales in bitcoin as they don’t have an appropriate bank account to hold the funds in escrow while they are working on the transfer.
The Notaris is also required to confirm that the source of the funds you use to purchase your property is legitimate and not money laundering, so they will probably ask you for additional documentation about the source of the bitcoins. The requirements can vary depending on your situation so it is best to discuss your specific situation with the Notaris when you are ready to purchase your dream property on Bonaire.
Do you want to buy or sell a house in Bonaire, or do have a real estate question for Bob? email him at: [email protected]. Call for free from the US: 1-866-611-7362 or Bonaire: +599-717-7362. See all our listings here.