Did a basic lease I found online(I know not the smartest way to go, but I was in a panic trying not to loose my daddy’s house) I’ve just read the Turners book, The Book on Managing Rental Properties.

The reason its a 6 month rate lock and extension is because it is a brand new built (started construction Jan) and bank still should not charge me 2 times for the rate lock, if they don't give me any waiver of atleast 2k, i guess i am going to cancel this deal even if i loose the $1792 (non-refundable = 1300 for initial rate lock and 492 appraisal) money with this bank. 

Damon Bounds

My POS Eclipse probably have people pity me and give me the deals for a great price ^_^This is a really odd backstory man... but then again, being in this business finding distressed sellers, you are bound to find odd stories.

Ideally, I would have the paragraph state that the buyer (me) can back out at anytime before closing, but the assignee is bound to the purchase of the house once they sign.

You'll just waste a week of your life and they will loose the house anyway. 

If I sell my home am I bound to receive the US dollar?

Didn't do diddly for 6 months but work, sweat and learn.Then it all started to break loose! 

Do I need contracts, a lawyer, property manager or is it just a person to person thing where we have a loose agreement?

If you loose the bid, your cc is not charged.