This usually transpires when the fair market value of the replacement property is less than that of the relinquished property.

I wanted to make sure I made an introduction before too much more transpired.

What exactly transpired - i.e. did you sign a lease, did you give them a deposit, did you give them any rent?

But you have already confirmed the latter did not yet transpire.

Greetings BP, I feel compelled to write an introduction post given the recent events that have transpired and the support I received from BP.

They're responsible for the deposit, regardless of what transpired between them and the former owner.

Can you let us know anything that has transpired?

Some things have transpired over the last few weeks and my contractors are telling me that crackheads have been coming by.

Let us know what transpires. 

The original Lender's title policy doesn’t insure the new mortgage created for you when you refinance, and it also doesn’t provide protection against events that may have transpired between the original purchase and this refinance (e.g. liens, legal judgments, etc).Having said all that, just because you'll need to obtain a new Lender's title policy, doesn't mean YOU need to pay for it.