Let's talk a little about a real incident that I did with bitcoin in the last 1 month and just processed the payment in the last 7 days. I have an investment of more than 1 bitcoin which is equivalent to $28,500 (estimate) at the time I processed the payment. I bought a plot of land measuring 850M2 with a total price of 0.6+ bitcoin or equivalent to IDR 200,000,000 at that time. This didn't happen by chance because I know that the landowner is one of those people who are also bitcoin users. Although bitcoin is not legal tender in my country but I did it without anyone knowing and it is a transaction involving only seller and buyer and so far I have processed this land certificate safely.
I tried to remain undetected making these payments because I knew I would be punished by the government if I announced them. The seller received my bitcoin payment directly to the exchange (from exchange to exchange) and I both signed the receipt that I had prepared as proof of payment written on stamp duty.
This is a real event, I told the seller that he has to convert his bitcoin directly to stablecoin if he doesn't want the money I paid in bitcoins for his land payments to fluctuate. So even though I know bitcoin shouldn't be used as a means of payment in countries that haven't legalized it yet, but it's always a useful option if a buyer and seller reach an agreement.
This is my short story with, so have you ever used bitcoin as a means of payment for the purchase of physical assets like land or anything else?
This story is also the first thread that I created in this forum. It will definitely feel special to me.
$28500 for a land of 850 sq. mt seems like a little expensive to me since I can buy the same land at $25000.
But again that also depends on the area and surroundings of the land. But it's good that you have used bitcoin to buy the land.
At the same time I hope you have verified the documentation at your end and completed all the formalities thoroughly.
In my country there's a registry amount set by the government on the property price by the government.
It's mandatory to pay that amount and then the rest amount should be handled by the buyer/seller.
So most of them use cash to evade from the tax. Bitcoin is a good alternative provided both the parties understand all the aspects of bitcoin.