A third party will handle conversions to US dollars and enable the purchase of real estate with bitcoin in four states.
Harbor Custom Development will accept bitcoins for your real estate properties. The company said the integration would be facilitated by a third party, which would also handle a custody arrangement. Harbor operates in Washington, California, Texas and Florida.
Harbor Custom Development Inc.
“We embrace technological advancements in our industry and seek to guide their impact in the future,” said Jeff Habersetzer, director of operations for Harbor Custom Development, in a statement. “Harbor is pleased to be the first national home and land developer to introduce our portfolio to the global cryptocurrency market with over 200 million users.”
Harbor is involved in all aspects of the land development cycle, including land acquisition, title, project infrastructure construction, home construction, marketing, sales, and management of various residential projects. The company operates in Washington, California, Texas and Florida.
Harbor said it would accept cryptocurrency payments through a third-party company that would handle the conversion to US dollars and hold the funds on escrow until the transaction closed. Despite accepting bitcoin and other cryptocurrencies, Harbor sales will continue to be denominated and settled in US dollars.
Sterling Griffin, president and CEO of Harbor, said it is a “significant step for the company” to offer its real estate products and services to individuals and institutions that hold cryptocurrencies.
Harbor said it focuses its efforts on acquiring land with “scenic views” to develop and sell residential properties within a 20- to 60-minute drive of some of the major U.S. metropolitan centers. Its residential projects, which include apartments, condominiums , single-family homes and luxury homes, are currently concentrated in the Puget Sound area of western Washington; Sacramento, California; Austin, Texas; and Punta Gorda, Fla.