If you fail to show up with the $95,000, you forfeit your $5,000 bid and the property would be auctioned off again.So your bidding money is at risk until you pay the balance.After you win the bid, there is a 10 day redemption period in Florida where the owner can more or less "claw back" the property by paying all the money that is owed to the lender that is foreclosing.  

I have clarification that it is now allowed for the transfer of title into an LLC that you are the majority owner of (borrower(s)) without any seasoning period if you used the second home occupancy loan.

I’m 21 and I’ve had this house a few years and lived in it for a period of time.

Gemini AI can help:Key features of an Ohio Land Contract:Installment Payments: The buyer agrees to purchase the property through regular payments over time, rather than a full upfront payment.Seller Holds Title: The seller retains legal ownership of the property until the full purchase price is paid.Agreement Length: The contract typically extends beyond one year.Property in Ohio: The land in question must be located in the state of Ohio.Improved Property (usually): Land contracts in Ohio normally involve property with a dwelling on it (a house).Here are some additional points to consider:Recorded Contract: A valid land contract must be recorded with the appropriate county recorder's office.Contract Content: The contract should include specific details like the names of the parties, property description, purchase price, payment terms, and down payment amount. 

The previous owner cannot stay there during the redemption period.

I’m working in getting under contract with a wholesaler for the first time, wondering what amendments I should look for in the contract from a financing contingency or inspection period etc or if that’s just for on market deals, would love to hear anyone’s input!

And if you want to keep things as they are or place your own tenants, make sure your offer includes the requirement that the seller not extend, renew, or replace any leases!

We bought a rental house in Alabama that had been a foreclosure and it was still during the 1 year Right of Redemption period when we bought it.

@Jieun KimCaywoodIn general your plan can work, but be careful about over-extending yourself financially.  

In my opinion- If you are outside of the due diligence period and the seller has committed to repair all of the damage and replace everything that has been stolen from the property then the seller has the right to keep your EMD.