GO through court after numerous cancellations and postpone you go to the court and they do not show up so you can collect via collection company.

Sale dates get postponed all the time, just depends on the account history, servicer and investor guidelines, and what actions the borrower may be willing to take in last resort scenerio.

A foreclosure is just postponed a month from Sheriff sale from the first mortgage.

The most successful "preforeclosure" investor I ever met bought almost all of his deals by tracking sales that were postponed due to bankruptcy.

Should I postpone the closing date till they complete the work?

The numbers Asking price 220kBuying price 185K including 5k closing costCash due at closing 4.8k  Reno 46k + 10% contingency   ARV 259kProjected cash flow when we rent the property after a year.Monthly Income:$1,900.00 Monthly Expenses:$1,618.82 Monthly Cashflow:$281.18 Pro Forma Cap Rate:6.43% NOI:$16,654.00 Total Cash Needed:$8,282.00 Cash on Cash ROI:40.74% Purchase Cap Rate:7.04%Closing this deal was not as smooth as closing my duplex deal and because I have learn so much throughout the whole process that I felt compelled to share my experience on BP so other people can avoid the mistakes I've made.Closing was originally scheduled for 6/5 but it was postpone due to mistakes on my part that I've outlined below.

If you truly believe you can make much higher returns then the math would suggest it would work, but ultimately if you have trouble along the way and have setbacks you would be postponing your future.  

I've notified them that this closing has to be postponed and the seller will need to negotiate with me to come up with a solution for the mold remediation.

At the same time, doing so would likely mean postponing the purchase of my first rental property.

The underwriter wants to make us rewrite the contract, get a second appraisal at my clients (seller) expense, and postpone the closing.