4 ms·
Do you have data on how often neighborhoods come together as a collective and pool their money to bid on a property, not with the intent of actually purchasing
by throwawaycities 4y ago
Do you have data on how often neighborhoods come together as a collective and pool their money to bid on a property, not with the intent of actually purchasing but just to drive up the price because they don’t like the prospective buyer?
- Ekaros 4y agoAnd aren't bids binding? They either have to buy, pay some penalty and still have the buyer get the house...
- throwawaycities 4y agoI suppose it depends on the jurisdiction, but I would think it makes sense to protect both potential buyers and sellers, that an earnest money deposit would be required for a winning bid subject to forfeiture.