MHA-Consult – a partner of MHA Property Finder – works closely with a regulated cryptocurrency exchange, which can enable a purchaser to buy real estate using his or her cryptocurrency.
Once the purchaser has decided on the property he wishes to buy and that he wishes to pay for all or part of it using cryptocurrency, the purchaser will set up an account directly with the cryptocurrency exchange for the purchase.
The purchaser will inform the cryptocurrency exchange of the timing of the proposed purchase and the amounts involved.
The cryptocurrency exchange sends the purchaser an invoice in Euros with its equivalent in cryptocurrency. Given the volatility of the market, the invoice is regularly updated.
The purchaser sends the cryptocurrency directly to the cryptocurrency exchange, where it is automatically sold into USD, converted into euros and then sent directly to the lawyer or notary handling the purchase. On receipt of the funds, the lawyer / notary will then be in a position to complete the Preliminary Contract and Deed of Sale once the local legal formalities have been completed.
The cryptocurrency exchange uses AML technology, which is recognised by a number of different supervisory authorities, to validate the legitimacy of the cryptocurrency. If this cannot be validated by the exchange, the cryptocurrency will be returned directly to the purchaser.
