After accepting my offer the selling agent notified my agent the property is a quitclaim deed.

@Christopher Petersen unless we have negative population growth there will be at least as many people as there are now, and if we did have negative population growth it would have a much larger impact on things like Social Security than RE. 

If you have offered EMD and seller accepted the offer contract, depends on the terms and local law you need a rectified contract seeking for refund. 

I am not a lawyer, but I believe you are in the clear to send him a new check, non certified, as long as you keep the original, unopened and returned check that shows it was sent back as undeliverable. if he ever makes waves surrounding the sec deposit, you can then show the judge that you sent the original by certified mail within the legal timeframe. in addition, save the written correspondence showing he refused to accept a certified letter.

What margin should I accept?

and both offers have been accepted (motivated seller- Husband doing rental property and he has passed away - while working on a rental)  So both properties listed for 49,000 each...then $39,000.  

They want to move to another part of town but despite having applied at many places, they haven't been accepted, apparently due to low credit scores. 

@Jan Ferry-AxmanSelf-management of IRA owned properties (LLC or otherwise) is generally viewed to be acceptable in a limited fashion. 

House #5: On August 8th I got an offer accepted on a house in Towson, MD which is where the second largest college in Maryland is located and pretty expensive area.The home needs updating which is why I really wanted it, the comps in the area when it is updated are around $475,000 – 525,000.

My question for "cash-only" sales are there any instances where a cash-only property would decide to accept bank financing?