And aren't bids binding? They either have to buy, pay some penalty and still hav... | Hacker News

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		Ekaros on April 19, 2022 \| parent \| context \| favorite \| on: Canada bans foreign home buyers for two years And aren't bids binding? They either have to buy, pay some penalty and still have the buyer get the house...

throwawaycities on April 19, 2022 [–]

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.

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