The closing process is managed by qualified brokers by Independent Realty (PropertyBid is a service under Independent Realty). They will guide both buyer and seller through the closing process.
Yes - once the purchase agreement is signed, an inspection or evaluation can be organized.
These will be detailed in the sale and purchase agreement. The costs will include the bid cost + buyer transaction $500 + closing costs.
Pursuant to the Terms and Conditions of the Purchase and Sale Agreement (PSA), your earnest money deposit will be subject to forfeiture if you fail to close unless the failure to close is due to conditions not met in the PSA.