This is called a Double close and sometimes the two closings happen within minutes of of each otherYou can find examples of contract in the FIlePlace under the resources tab above.

For example in Atlanta, you get off an exit and it looks nice, like a B+ area, then after a certain intersection it turns into a warzone.

http://www.pinellasclerk.org/tributeweb/ShowPDF.as...By the time it actually goes to auction the opening bid ends up a little bit higher due to other costs being added, in the example above the opening bid was $8,919.80 (and it sold for $52,400).   

In your example, lets say 60,000 ARV.

For example I just sold a beach house and all the comps were in the mid to high $400k range.

For example, you set up key word alerts. http://www.biggerpockets.com/alerts

For example the plus said “pro benefits” and pro said the same thing.

For example, I know that if the house was built before 1978, then the seller has to have a lead based paint disclosure.

Search for them and read through them for examples that may apply to your situation.

For example, you set up key word alerts. http://www.biggerpockets.com/alerts