If they didn't disclose this roof leak you may be able to win a lawsuit against them for the non disclosure but being practical it's small potatoes and not worth the risk, cost and time.

Contributors: Colette Chase Excited to share a small win for two relative newbies in the realm of real estate.

That can be tough and may end up costing you more time and money than just biting the bullet.Hopefully you're going into it with the right mindset, which (I'm sorry to say) is there's a chance you'll get nothing out of the seller without a whole lot of work, even if you "win".  

If the storm hits, you'll win.

If you put the "all cash" investing route into a spread sheet against a "leveraged" investing strategy, leverage will win massively over the years.

With that website you just have to wait until they really want to sell, so bid each time, even if you are the only bidder, then eventually they 'let' you win. 

and implying that you would offer cash, then figure out financing (hard money, friend, relative, lottery winnings) before closing.

It was a win win win situation.

Wayne, does your response mean its somewhat of a bait and switch - or just that I could possibly win the bid but not win the property?

Is the REO bid deposit forfeited if you do not win the bid or if your winning bid is rejected (min not met)?