I had the same thing happen to me, but the property just went back to auction and I was able to win it again.

The buyer simply might have done this as a stall tactic to win the deal.

It was a win, win, win for all parties involved.

I did the numbers so I could see how break-even or a little less I would be.That being said, you might be right that it might be a blessing with the bank giving me a hard time, however, I'm also banking on the fact that after 3 years and she still couldn't get her credit act together, we might just have a great rental property ... and if my sister-in-law could rent out the two remaining bedrooms for students @ $600 a piece, she would be laughing on her way to the bank and we'll have a win/win situation for all of us.Again, thanks for the advice ... much appreciated.Alex

If that is a winning strategy for you, stick to it. 

I saw an ad on craigslist about a burned up house in north canton ohio. I texted the seller, got the address and did a drive by. it was about 1900 square feet, 4 bedroom 1 bath, with a detached 2 car garage. the house...

When you get out of administrative hearings and get to court, in real estate matters, my guess would be that the regulators win 85-90% of the time.

Win-win.If seller financing isn't an option, triplexes can qualify for FHA loans, which can be had for as little as 3.5% down.Good luck.

If you are the winning bid how long after are you able to have access to the property? 

Note: Buyer indicated that he can't make any down payment (when he moved in last month, he paid one month rent upfront and paid 2 months security deposit etc and he is claiming that he got no savings).I can see a value for buyer in this transaction but not so much for me as a Seller unless I structure it such way that it would be 'Win-Win' for both of us.Questions: 1) If today's market value is 175K, what is reasonable to expect on this property if 'Lease to own' contract duration is 100 months?