Oh yeah, I had to provide all that too. What I just fond absolutely wacky is how there is some sixty day time window that "ages" funds to the point that you don't have to explain anything about their provenance. I would definitely tell those looking to buy a house with bitcoin funds to:
1) Don't think you can just go swing your bitcoiner schlong around the real estate market, before "aging" those funds as dollars in a bank account for two months
2) Get an institution that does in-house portfolio loans, meaning they approve, process, underwrite, and service the loan IN-HOUSE (as opposed to those that turn around and sell your loan to another bank or farm underwriting out). Their approval amdunderwriting process are a lot more flexible.
3) Do not refer to your proceeds of bitcoin as "bitcoin" trades or sales. Just say you sold assets and let them ask for more information if they need it. It's been 15 years and these people still bristle at the mention of crypto. This will cause them to ask a lot of nonsense questions (even before processing) and they won't even understand your answers anyways. Talking about bitcoin until you absolutely need to just unnecessarily confuses the process.
Rich Nost
npub1zw…yvpu5
2024-07-22 23:12:42
in reply to nevent1q…9024
Author Public Key
npub1zw7ftkfpezmtym8n2j2fvnd0smunztl9pyjys0fxdqne08vq397s5yvpu5Published at
2024-07-22 23:12:42Event JSON
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"content": "Oh yeah, I had to provide all that too. What I just fond absolutely wacky is how there is some sixty day time window that \"ages\" funds to the point that you don't have to explain anything about their provenance. I would definitely tell those looking to buy a house with bitcoin funds to:\n\n1) Don't think you can just go swing your bitcoiner schlong around the real estate market, before \"aging\" those funds as dollars in a bank account for two months\n\n2) Get an institution that does in-house portfolio loans, meaning they approve, process, underwrite, and service the loan IN-HOUSE (as opposed to those that turn around and sell your loan to another bank or farm underwriting out). Their approval amdunderwriting process are a lot more flexible.\n\n3) Do not refer to your proceeds of bitcoin as \"bitcoin\" trades or sales. Just say you sold assets and let them ask for more information if they need it. It's been 15 years and these people still bristle at the mention of crypto. This will cause them to ask a lot of nonsense questions (even before processing) and they won't even understand your answers anyways. Talking about bitcoin until you absolutely need to just unnecessarily confuses the process. ",
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