You may have the 3 day option period there if that hasn't passed yet.My second thought is, in consultation with your agent, if you are willing to give up the earnest money, offer the inspection report, your bank appraisal, and be willing to release your earnest money. 

You will see great returns when leveraging your money due to appreciation and you will have less risk involved as the Columbus market as a whole is growing at a rapid pace.  

I have cleaned up a number of these deals over the years.. they are all great when they are working and everyone is on the same page but when they are not.. there is extreme risk to the original seller especially in Texas were a bank or lender can get a money judgement on purchase money loan.. out west not so critical original seller just gets their credit trashed if it was not already.. but there is no money judgement available to the lender for a purchase money owner occ loan in first position.

There’s no money involved.

If you take the money out at a loss and reposition it into a different market, you need a new team.

We had a case where we had to return all the money back to the tenant because the lease did not exactly describe this. 

@Susan McBride it is a common tactic that allows them to bring less money to the table. 

Is it feasible to obtain a loan or a good old boy agreement where a lender offers 100% financing for both the purchase price and construction costs at hard money rates, secured by a second position on the borrower's other properties?

Hi all,I just closed on my first rental property and used all the money I saved for that downpayment.

Is the initial deposit applied to the eventual money needed for down payment?