She either accepts it "as is" or she forfeits the deposit and you put it back on the market for another renter.

And there were a couple of deals where I forfeited my EM because of that very thing.

So it is pretty much an all cash affair (no financing contingency)  And if you don’t come up with the cash the day after the auction, you forfeit a 5% deposit that you had to have placed in order to bid.Usually the deposit that you pay to bid is collected on the day of the sale, and is not refundable.

My RE lawyer advises against this: "failure to have a separate escrow account will forfeit your right to security deposit funds in all instances."

@Andy Gross What are you saying will be forfeited?

Deposits are forfeited if te lease is not completed in full for any reason up to an including but not limited to blah,blah.

At least then he´ll see that you are serious about finding a buyer within a fixed amount of time before forfeiting your EMD. 

If the loan fails to close this fee will be forfeited.

-tax forfeited house we are converting to a duplex.

After repairs ($40-75K) you might not get much higher rent since it's long term Tenants.If you think it's a good deal, make it yourself and forfeit your commission - just negotiate the price down like it would be for the regular buyersGood luck!