Short Sale Timeline for Wholesale

[John Horner]

I received a call from a motivated seller today. I would be planning to wholesale the property. The bank had approved a short sale for $90k, and they had a buyer lined up but just fell through. They are now 2 weeks away from auction and need to sell it fast.

The house ARV is $125k.
Needs only carpet and paint.

My first question is this: Even if I had a buyer lined up at $90k, is 2 weeks long enough for us to close on this property before auction?

Secondly, $90k is above my criteria. At $125k ARV and needing paint and carpet, I would normally try to contract this for $77.5k and sell it for $85k. Is there anyway the bank would renegotiate to a lower amount within the 2 weeks before the auction?

Thanks in advanced for any information!