The earnest deposit of 40% from the accepted offer is a significant indicator of buyer commitment, but it may be forfeited if the deal falls through due to relisting.While the second highest offer of $2.855M is attractive and already under contract with a substantial earnest deposit, the decision to relist for potentially more (up to $3.15M) involves weighing the risks and rewards carefully.

toward the purchase that they agree to forfeit if they don’t buy the property by the end of the lease.

For example:"In the event that the Tenant does not decide to move into the property, they forfeit all of their security deposit and monies paid to Landlord.

If for whatever reason you waive the contingency, you will forfeit your ability to cancel the purchase contract if there are some serious issues with the home and will not get your EMD back.

I did hold a property for one month with a holding fee to be applied to the sec dep upon lease signing OR forfeited should they back out. 

It's worth forfeiting the interest rate at 4% if it means you can generate a better return with the capital you deploy.

So, perhaps I’ve forfeited a chance for great wealth, But, as Clint Eastwood once said “A man’s got to know his limitations”.  

The tenant still has the ability to back out - only they'd forfeit the hold deposit.

In a case like the example above, a strong claim may be made that the use was commonly known and continual if the claimant maintained and used the property frequently.Therefore, if you find yourself in a situation like the example discussed above, you need not forfeit your strip of land to your neighbor notwithstanding an erroneously placed fence if you can prove the elements of adverse possession.

They will need one in order for you place a bidThe far better strategy is to forfeit your commission by putting zero in the selling agent commission field as:- You don't have to split any commission with your broker -You don't have to pay income tax on your split - You can win a bid with a 3% plus $1 from a regular buyer.