Or the landlord might just want to spite the tenant, or he might want to sell to a “new” buyer who turns out to be business partner/cohort/shell LLC/etc.
It’s even better than that because it is illegal to make bids on a property you sell so the seller name a price and if someone want to buy it at that price it’s sold. Most of the time buyers tries to bargain on markets where the demand is low
This happened a lot during the Great Depression. But then I believe the owners found a way to withdraw the auctioned property if the minimum bid didn’t suit them. The French law might bring back the Penny Auction by saying, “You put it up for bid - a sale has to go through.”
Are people really accepting less money so they don’t sell to brown people? Like why would you care? You’re selling the property. You don’t have to deal with the new owners if you happen to be racist.
I’ll add, as a minority there are neighborhoods that are off limits because I know I would not be accepted, and, I have an “ethnic” name, so I assume some bias may be held towards people selling in neighborhoods like that.
Granted, this article was from all the way back in… last week.
“An African-American woman’s quest to buy a pricey condo near the Virginia Beach Oceanfront – impeded by the white homeowner’s refusal because of her race – is just the latest example.”
“…landlords frequently use subtle methods or mask the real reasons why they don’t want people to move in.”
The neighbors care. So unless you don’t live in that town it could make for some interesting neighborly interactions. Wouldn’t be surprised to find court cases of neighbors suing for loss of property value.
There have been auctions in the past, mostly farm, that the community got together to drive off outsiders and then proceed to lowball every item on the auction. They would then return everything to the owner after the auction.
It was a fine ‘fuck you’ to the bank, until the bank closed or sold out because they no longer had the assets and cash reserves needed to stay open themselves. Which then screwed the rest of the community over.
More precisely, when you sell the tenant has the right to buy it first.
If the landlord is thinking of accepting an external offer under the initial price then he has to ask again to the tenant if he would buy it at this lower price.
In France there is a law that forces you to sell to your tenant if he has the highest bid
Why would you need a law to make someone sell to the highest bidder?
Because sometimes there’s a tie
Or the landlord might just want to spite the tenant, or he might want to sell to a “new” buyer who turns out to be business partner/cohort/shell LLC/etc.
It’s even better than that because it is illegal to make bids on a property you sell so the seller name a price and if someone want to buy it at that price it’s sold. Most of the time buyers tries to bargain on markets where the demand is low
This happened a lot during the Great Depression. But then I believe the owners found a way to withdraw the auctioned property if the minimum bid didn’t suit them. The French law might bring back the Penny Auction by saying, “You put it up for bid - a sale has to go through.”
They can still do that through proxy buyers. If you go to enough auctions, it’s easy enough to pick them out.
Wouldn’t most people sell to the highest bid anyway?
Never any history of racial segregation in the housing market, nope. No Sir. Never.
Are people really accepting less money so they don’t sell to brown people? Like why would you care? You’re selling the property. You don’t have to deal with the new owners if you happen to be racist.
Gotta keep the community pure.
I’ll add, as a minority there are neighborhoods that are off limits because I know I would not be accepted, and, I have an “ethnic” name, so I assume some bias may be held towards people selling in neighborhoods like that.
Granted, this article was from all the way back in… last week.
“An African-American woman’s quest to buy a pricey condo near the Virginia Beach Oceanfront – impeded by the white homeowner’s refusal because of her race – is just the latest example.”
“…landlords frequently use subtle methods or mask the real reasons why they don’t want people to move in.”
Virginia Mercury News
The neighbors care. So unless you don’t live in that town it could make for some interesting neighborly interactions. Wouldn’t be surprised to find court cases of neighbors suing for loss of property value.
There have been auctions in the past, mostly farm, that the community got together to drive off outsiders and then proceed to lowball every item on the auction. They would then return everything to the owner after the auction.
It was a fine ‘fuck you’ to the bank, until the bank closed or sold out because they no longer had the assets and cash reserves needed to stay open themselves. Which then screwed the rest of the community over.
Yes but we had our fair share of assholes
More precisely, when you sell the tenant has the right to buy it first.
If the landlord is thinking of accepting an external offer under the initial price then he has to ask again to the tenant if he would buy it at this lower price.
Umm, you can legally sell it to someone else and not the highest bidder?
Not in France. If the tenant wants it, the tenant gets it