“Formal education will make you a living.

I never gave written consent, and no formal sublease was ever established.  

I guarantee the appraisers are able to come up with a valuation for the bank, so maybe you need to pay for a formal appraisal.

Hey guys, I posted once before and realized I never gave a formal introduction.

@William Christopher West Borders & Borders

Afterwards if he says it looks good and I agree, I’ll make my offer and we go through the process of getting it accepted and doing due diligence with the formal inspection process.

To "formalize" it, you could just make it a loan from your friend to yourselves (yeah, a residential lender may frown on that). 

I have fished the White River below Beaver Lake Dam, and at Roaring River State Park just across the border in Missouri.

My area is near the borders of Indiana, Ohio and Kentucky.

there are some positives, but many negatives to them, you should get a ratified deed up front, be aware that the lender could call the loan, be sure the seller will fully cooperate when it is time to formally transfer, seller could circumvent you at the wrong time, borrow against the potential equity or just say "forget it, i have a cash buyer"!.