Neat idea.
I think you actually have to spell out "dies" in order for this to work within the rules, though.

"Dies" means "put into a graveyard from the battlefield". Other rules say that objects only go into their owner's graveyard (if they would go to another graveyard, they go to their owner's graveyard instead).

Personally, I'm a great fan of making "Dies" be permitted as an instruction as well as a description.

But yeah, current templating doesn't like it.

Also, does this have to be quite so expensive? I guess turning bounce and phasing into bury can be quite useful.

Yeah, 3 seems perfectly reasonable for this. It makes Undo into Curtains' Call, and Mistmeadow Witch into some hideous Plaguebearer variant. It doesn't have any obvious ties to specifically black mechanics... oh, except that "one turn reanimation" as seen on Dawn of the Dead, Goryo's Vengeance, Whip of Erebos etc is able to repeatedly get the same creature back.

Double in the cost is still very sensible to stop every blue and/or white flicker/bounce deck splashing for this.