Could they close without my Permission?

[Dolores Ruiz]

I need advise desperately. I put a foreclosure property under contract with a realtor in another state. At the advise of the realtor we bid at a price that was 2k under the listing price and was awarded the property. The problem: the realtor told us that the property was going to require 30k worth of work, however, when the contractors went into the property and gave us a bid it came out at 48k. After going back and forth with issues with the hard money lender and the seller (the property was put under a company name and the hard money lender does not do loans under a company name and the seller who is a bank was not going to allow a name change).

The numbers just don’t work for me so I have decided to back out of the deal. Last night I got a call from my partner and he is telling me that the realtor needs a copy of my Articles of Incorporations so she could get our deposit back. I currently am on travel so I don have them, but I got to thinking could they close on the property without my consent? Or just close on the property under my company name and change the name after closing. I thought about this because the bank did not want to change from the company name to my name when we requsted. So what is stopping them from moving forward with the closing under my company name. My question is can they do this? Is it legal? And if they do close without my consent what should I do and how can I find out? Finally, does the bank need a copy of the Articles of Incorporation to close and if they don’t have a copy could the closing proceed. Your advise is always appreciated.