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Navigating my first real estate purchase with crypto

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by COINS NEWS 68 Views

So, I've found this deal in the bay area that could really work well, seller is a "short sale" which means they are close to being foreclosed on and getting desperate, so I feel this property could work well. The plan is to sell some ethh and pick it up, fix the sheetrock and roof, spruce it up and make a good rental.

But the seller's agent won't accept an ethh wallet as proof of funds. She told my agent "Because you're making an offer in US $, your proof of funds must be denominated in that currency.". On top of that, they've also requested to see an anti-money laundering report on my portfolio that came back 36% red, which is too ''dirty'' for them, also for me lol because i don't know what triggered this lol, but nobody knew that until now.

I am planning to sell the ethh for $ as soon as the seller accepts , but don't want to incur too many fees and or have trouble about it being dirty, i don't wanna occur any freezes. Or if they aren't going to accept it? Does anyone have experience with this, is this normally accepted practice? Someone with experience in real estate, if you could help me out here.

submitted by /u/PAKiWASi
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