[This is the weak point where your friend could take your money.]Do NOT receive the refinance loan proceeds from the title company (except proceeds in excess of your friendly loan, if any and normally not).Refinance loan proceeds must be sent to your friendly lender otherwise two things occur: 1) the refinance lender and/or the title company gets suspicious this is not really a refinance, which may kill the refinance loan and; 2) you don't get the discount on the title insurance due to buying title insurance again within a short period due to refinancing (in Texas) because you’ve tipped them off that you’re not really refinancing.

We thought that was odd as well, to make that kind of offer without both seeing it.Are we right to find this suspicious?  

Cash is better of course, and any other red flags with their history would make the cashiers check more suspicious.

As a buyer, I view a seller in haste as suspicious. 

I would be suspicious of anyone who says they will do it free. 

Be suspicious of replaced plastic  plumbing at the hot water heater and under sinks.

I also look for my red flags:  a) they mention a guru or b) they ask to partner up quickly (like suspiciously quickly) or c) their first question is "how much capital do you have lined up?".

If the PM is unable to adequately answer my questions, I start to get suspicious of them doing their job well and how much I can trust them.

SUSPICIOUS ACTIVITY REPORTS Suspicious Activity Report, known as a SAR or in common parlance, “Something Ain’t Right” requires a special form at the present time.

That seems really, really suspicious and I can't think of any legitimate reason to not provide an MLS sheet to a buyer.