Do you have Bitcoin in your investment portfolio? Are you thinking you’ll use it when you want to buy your new home in North San Diego County? Do you even know if this is really possible, or just a pipe dream? Yes, buying a home with Bitcoin is possible and you can use it, but you have to follow some serious rules first.
The United States government wants to follow the money and Bitcoin is no different. If you have enough in that Bitcoin account to allow you to either buy a new home for all cash, or put down a sizeable down payment, you have to convert it out into US dollars first. Then, it has to sit in a bank account, or investment account, for 60 days. Once you’ve done that, you can use it just like any other funds you might have.
The sixty day rule is a must. It’s the same rule one must follow if they have funds over seas and want to purchase a home in the US. The government wants to be able to trace it and follow the money. Therefore, be prepared to park it for two months. Do that, it’s good as gold.
North San Diego County has beautiful homes to buy once you have the US dollars.