Then paying half upon completion of the work.At the very end I have this:1.If you do not wish to comply with these remedies, you may leave the property within 30 days of the posting of this noticea.You will forfeit your security depositb.You will not be exempted from complying with the terms of the Lease agreementc.You will not be exempted for paying rent for the months that you have occupied the premises (rent will not be prorated)d.You will not be relieved of responsibility for damages to the propertye.You will not be evicted and thus will not have an eviction on your credit history if you remove all of your property from the premises within 30 days, return all keys to Landlord, leave the property as you found it (including but not limited to clean and free of debris) and do not cause any further damagesEviction is costly for myself as well as for you.

Is it forfeited by the owner?

Dep is forfeit if renters change their mind.

Thanks PNW, Mr Castillo.I guess I was trying to make the idea too general :oops: .More specifically, when I search the Wayne County Tax website using property ID numbers gained from Zillow, I sometimes come across properties whose status is "forfeited", and others whose status is "delinquent".

The area I live in has been struck hard by foreclosures and delinquent taxes.In today's paper there are 140 properties forfeited to the state for non-payment of taxes and a sale is scheduled later this month.Can anyone give me a quick step-by-step list of what YOU would do if you were going to flip one of these properties?

I am referring to the situation where the buyer's financing is approved and the seller has met all his obligations, but the buyer does not bring the closing funds nor execute the purchase/loan documents.I know the earnest money is forfeited, and a lawsuit might follow, but what about insurance and letting the insurer sue to recover?

In addition, my understanding is that putting your personal residence in a LLC will cause you to forfeit the $250K ($500K if married) capital gains tax exemption on the sale of your house!!!

Buyers can get ugly too, especially when they forfeit their option due to to late payments which will make the evildoer attempt to waste your time in court.

Period.First, once the option expires you forfeit the money youpaid for it.

This is common, and it meant that if the home had real problems, he could back out of the deal later without forfeiting his deposit.