In many states, you are required to have cash in hand, in the form of a cashiers check inorder to bid on these properties and to purchase them.

"To be frank, since the TARP money came in, they are still selling off (properties at auction), but they kind of took a step back." . . .Real Estate Disposition LLC (REDC), which claims to be the nation's largest real estate auction company, held 300 ballroom auctions in 2008 and sold nearly 33,000 foreclosed homes for $3.4 billion -- a seven-fold increase in sales volume and nearly triple the proceeds the company generated in 2007.Company CEO Jeffrey Frieden said he expects to "smash that record" this year as banks and lenders continue to amass a huge inventory of foreclosed homes and are more motivated than ever to sell their inventory. . . .Some observers fear that if the massive amount of debt the government is taking on to stimulate a recovery, inflation -- and higher interest rates -- are inevitable consequences.

, two deeds are created to be held by the escrow agent for the benefit of the buyer and seller.

It's only the timing & lack of timing we have available now, which has handed us our difficult circumstances.

Oh and one more thing - homeownership and a lack of personal responsibility do not go hand in hand.

I was consistently nailed for loose hand rails, smoke detectors with the batteries taken out, Fire extinguishers out of date or not in place, loose door knobs, typical renter mentality stuff, the lines in the parking lot were not dark enough one year.

i think it's that MLM based rehab funding program...as soon as I saw it's mlm, I didn't bother to read but if somebody has first hand experience with it.Chime IN

Jon -Correct me if I'm wrong, but I believe that's if the rental has been held for less than 1 year.

Essentially, they accepted an offer which was no longer valid; thus, there is no contract.If, on the other hand, they accepted your offer within the prescribed period of time, you now have a contract.

Since you already have it in hand, I believe you are bound by law, at least here in CO, to refund the rent from the time period when its re-rented.