If you don't win, the hold is automatically released after the auction within 2 business days.If you are the highest bidder, you will sign the purchase contract, wire your earnest money, and provide proof of funds (bank statement with account numbers "X"d out is fine).

If you do choose to borrow against your 401K make sure you have a repayment plan in place that you can execute if you do get released from your job.

Can some body please explain to me the step to put a bid in on a  property, then putting it under contract? 

They are in Boston, but are doing closed beta testing for their online program before releasing it to the public.

(no previous rental increase in past 3 years)This ultimately led to us agreeing to list the house for rent in order to allow them to purchase a home and move out early IF and WHEN the house was re-leased and with no change in the current lease agreement.  

It would be a great place to ditch a body

You would be smart not to sign off on any lease release agreement for this guy, he can leave if rent stays on apartment, and no further claims against you, for same .. and is then signed off lease by you and management.. but be careful.. if you don't income qualify after he's gone then you'll likely not be given a lease renewal without a new income qualifying roommate to add back on the lease.. it's all part of what the management company has for their policy, but this may give you some points to consider in negating with him about the situation.

It depends on your local county's policy on deed recordings.State law requires that escrow and title have "good funds" before they can release money.

I love my work but need to save my body for the future and need other ways of making income with my brain rather than my body.

She and her whole family were dealing with dead bodies and evictions the whole time til she gave up.