Canada bans foreign home buyers for two years

Re:Canada bans foreign home buyers for two years by throwawaycities on Tuesday April 19, 2022 @09:23AM (#31082729)

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?

[ Parent | on HN ]

Re:Canada bans foreign home buyers for two years by Ekaros on Tuesday April 19, 2022 @09:43AM (#31082960)

And aren't bids binding? They either have to buy, pay some penalty and still have the buyer get the house...

[ Parent | on HN ]

Re:Canada bans foreign home buyers for two years by throwawaycities on Tuesday April 19, 2022 @11:05AM (#31084120)

I 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.

[ Parent | on HN ]