Could you explain in detail of how the process would go if won?
Like, meeting in person, how long it would take etc.
Most of it is at the bottom of the Auction thread (
https://bitcointalksearch.org/topic/house-in-germany-for-1btc-no-reserve-222896) but I've linked it below for you, please note that escrow is not essentially needed, as the winner can transfer the Bitcoins whilst at the actual house and signing the documents if so desired. Escrow is offered because of previous complaints/desire for an escrow. If you want to meet Bitcoin_Bob in person (assuming to conduct the sale) then you'll have to discuss that with him, keep in mind that he lives in Canada.
As to how long the process would take .. depends on how the winner goes about it, if they want to visit the house, just do everything via lawyer, use an escrow, visit Bitcoin_Bob, etc, etc, I'm going to throw out a wild guess and say a couple of weeks, though, ye, heavily depending on the wishes of the winner of the auction.
If you win:
1. On bid acceptance, you must send a deposit of 500 Euros to the notary in Germany, or the equivalent BTC to the escrow.
2. On confirmation of the deposit, a ‘purchase agreement’ is sent to you signed to show I accept your bid. You then sign the agreement to say you legally agree to buy the house.
3. You then post the original (of the agreement) to the notary and send a copy to me. You will also need to sign a ‘POA’ for the notary to act on your behalf, at your local German consul, or go to Germany. I suggest you check where the nearest German consul is before getting too involved here. If you are not prepared to travel to your nearest local German consul then this auction is not for you.
4. The deal is now legal, the notary will begin the transfer of the title. You will pay the owed funds in BTC to the escrow.
5. We will send a certificate of ‘all payments received’ to the escrow, signed and notarized. This document, when given to the German notary, is irrevocable proof that you have paid for the property and we will have no way whatsoever after that and the purchase and sale agreement has been given to the notary, to prevent the property being registered in your name.
6. The escrow transfer the funds to the seller (us) and sends the certificate of payment received, via registered email, at the same time.
Viewing
If you wish to view the property then please contact me with your name, method of travel and photo ID and I will authorize you to visit and tell the local police and neighbours you are going to be there. This will prevent your arrest. Any damage done by any visitors will be reported as criminal damage.
Taxes-120 euros a year.
Legal fees 500 euros plus aprox 7% of the total purchase price declared for transfer tax and notary fees.
Publicity Upon winning the auction
with the winners agreement, I will keep people updated on how the sale is going via this thread. This is to show as much transparency as possible and to show that deals like this can really happen with Bitcoin. I will ask any interested press to respect the winners privacy, unless the winner is interested in press publicity, I am happy to give a statement myself pre-completion, after that, statements may require the winners agreement.
