Lol. Lmao, even.
Unfortunately, banks plan for this tactic anymore.
this post was submitted on 12 Apr 2025
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Now every property bid has a hold and its a waste of everyone's time.
A naive libertarian might see the anti-competitive auction as fair.
Someone with awareness of history might note the unfair laws which led to banks wresting land from farmers. Then realize that nothing was fair.
“Hey I’ve got the papers, whether it is just or legal really isn’t my problem and I’m sorry for your situation anyway give me the farm.”
“Hey be that as it may the whole community has decided that whoever takes this farm is going to get hit with a bunch of ax-handles.”
“Unfair, injustice”
If you tried that today, someone online would come in and buy up that property. We have no defense against monetary predators like we used to.
I'd think banks probably just have a reserve price these days (a minimum price they'll accept on the property).
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