> The catch is that you'd be obligated to sell it at the price you selected if a buyer showed up.
A modification to that I read somewhere which I like is the buyer has to put in a cash over the barrel offer. Completely unencumbered cash for a period too long for any leveraged investor to tolerate. And enforcing that "cash"'ness is the courts will not enforce claims upon the property based upon pledging it as collateral for say, 2X median population lifespan years.
I'd also want to see a natural person exception and a bounty. If you are a natural person (non-corporate entity, real human), then your home is exempted from the bidding system. But if someone figures out a natural person individual claimed two or more properties under the exemption for some period (say a year and a day) or longer, then that someone gets their choice of properties illegally claimed under the exemption, with instant eviction enforced by the state immediately after the court-supported decision.
The intent of the modification is to disallow hacking the bidding system by tapping credit markets far beyond the reach of median homeowners and systematically outbidding them.
If your nightmare scenario is that credit markets are going to offer you your arbitrary asking price for your house I'd like to live in your nightmares :)
A modification to that I read somewhere which I like is the buyer has to put in a cash over the barrel offer. Completely unencumbered cash for a period too long for any leveraged investor to tolerate. And enforcing that "cash"'ness is the courts will not enforce claims upon the property based upon pledging it as collateral for say, 2X median population lifespan years.
I'd also want to see a natural person exception and a bounty. If you are a natural person (non-corporate entity, real human), then your home is exempted from the bidding system. But if someone figures out a natural person individual claimed two or more properties under the exemption for some period (say a year and a day) or longer, then that someone gets their choice of properties illegally claimed under the exemption, with instant eviction enforced by the state immediately after the court-supported decision.
The intent of the modification is to disallow hacking the bidding system by tapping credit markets far beyond the reach of median homeowners and systematically outbidding them.