If they are approved, and back out, they forfeit the 1 months rent.

Perhaps one could forfeit future profit but that is never guaranteed.

If full payment is not made within 24 hours, they buyer forfeits the deposit made at the auction.AND, A TAX LIEN?

It seems to me that based on current case law (Chase Plaza, Liu, Green Parks), there is an outstanding question of law as to whether a Condo Association foreclosure for more than it's 6 month superpriority lien entirely forfeits it's superpriority status of even it's 6 months of back assessments, and becomes entirely subordinate to the first deed of trust.

One was allegedly going out of business, the second was a party who previously owned some of the properties I was purchasing (and subsequently forfeited them to the bank).  

There is a 10-day demand for possession, but that is given because if the borrower fails to vacate within time limits, he/she forfeits their post-foreclosure redemption rights.The appropriate lawsuit is ejectment, not eviction.  

It looks like if he didn't return the deposit or send the receipt of damages and the charges corresponding to the damages then he forfeits the deposit all together.

With that being said if you were to still bid on one of these properties without actual cash to close to deal you will more than likely forfeit your deposit ($2500) in my area that you put down before bidding.

In this case, their credit score is that something of value, however their credit score is already forfeit during the foreclosure process so their score is already toast unless they find a solution. 

The down payment would be non-refundable so if I fail to aquire financing in time the earnest money would be forfeited.