I think the issue is more like, what non FHA mortgage programs would work for buyers with credit in the 600s and only 3% down in a simultaneous closing?

While I’m negotiating with the lender, you do what you do best: market the property and find me a buyer.The short sale gets approved by the lender.We sell the property either by way of simultaneous close or double escrow to your buyer.You collect your commission!

The clause is, in my opinion, is intended to keep investors from doing simultaneous closings.

In the event Seller fails to timely cure said defect, all monies paid hereunder shall, upon written demand therefore and within five days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the Property and reconvey same to the Seller by special warranty deed.

If the purchaser intends on performing a simultaneous closing (aka flip) such a transaction can take place only if the re-conveyance is of equal or lesser value as to the current sales price indicated in this transaction.

Does your attorney then explain that you are going to buy the house and assign the contract and simultaneously close in the future?

In the event Seller fails to timely cure said defect, all monies paid hereunder shall, upon written demand therefore and within five days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacate the Property and reconvey same to the Seller by special warranty deed.

We just started doing the projects for other investors last month, and we currently are working on 5 for other investors and 2 of our own -- in other words, we're currently working on 7 houses simultaneously.

I guess investors should all pay higher rates on less favorable terms and consequently be at a competitive disadvantage for their bid price so that the lender can maintain a call provision and simultaneously expose the borrower to risk to their assets.

Are you talking about simultaneous login attempts?