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by SOLAR_FIELDS
1423 days ago
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It’s an interesting idea, a few loopholes come to mind: If the option to sell is at anytime through the year, there is the risk of city being on the hook when values tank across the board. If the exercise window is only say a month after the appraisal this risk is diminished. I could see this system being used to exploit uneducated homeowners and essentially con them into selling below market value. Not sure how to lower the risk of this one happening. |
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2. I don't see the exploit? If they sell below market value then the government gets the profit.