Buying a home is expensive! You need lots of money — or, in Texas, lots of crypto.
According to The Dallas Morning News, a Zillow-like website has been launched by MyEListing, a startup located in Cedar Park, close to Austin. The platform enables individuals to list both commercial and residential properties for sale and offers the option to use either cash or cryptocurrency as payment.
The company's ASAP (Accelerated Sale and Purchase) program enables sellers to complete transactions in a single business day on the marketplace. Coinbase Commerce will facilitate the conversion of buyers' cryptocurrency to cash, while Millennial Title and Championship Title will manage the title work.
“We pre-clear the title, the seller pre-signs the sales contract, and we list the property to the seller's liking,” a statement from the company reads. “All parties involved then sign closing documentation via an online Zoom call, buyers have 30 minutes to send the full purchase price after clicking the ‘Buy Now’ button featured on the listing, and the process is finished.”
MyEListing doesn’t charge listing fees for properties, communication with other agents, or access exclusive market intelligence. Instead, the company aims to “empower real estate professionals from every corner of the industry with as many free resources as possible.”
Some homes in North Texas are available on the new site, including one in Grapevine. The site features a three-quarter acre home site along Hughes Road. The property is being offered for $499,000 in cash, or alternatively, 17.5 Bitcoin or 256 Ethereum.
Two additional commercial properties in D-FW have been listed on the platform. The first is an office building in Farmers Branch priced at $4.3 million, or alternatively, 150 Bitcoin or 2,208 Ethereum. The second property is a 40-acre commercial tract of land located at the intersection of Interstate 20 and Interstate 45 in Dallas, with an asking price of $3.9 million, or alternatively, 136 Bitcoin or 1,997 Ethereum.
As of now, the platform only allows Texas-based properties to be listed. However, the company intends to expand to two or three additional states by June.
