I can assure you there is tons of that type of housing being built within our area.I appreciated your arrows and feel they were explained very well and all are Extremely relevant.

And be assured it swings both ways going forward....

All you can do is put a process in place that covers most of your bases and allow the process to re-assure your decisions. 

I found my private lender via Craigslist, presented the deal with confidence and an assurance that paying him back was my 1st priority, regardless of how the deal went I knew that he was getting paid.

Just assure the seller that you'll pay your own agent directly. 

Under this program you  will be  assured, you and your buyer will get approved if  there isn't  any problem in appraisal.

I will also take the great advice I got here and hold onto some of the $ to assure the completed job is 100:/ satisfactory.

I suggest showing your letter from your hard money lender to your seller with assurances about how you can close fast and be honest in your contract contingent upon financing.  

By knowing exactly what the bank requires to consider the loan you would assure that the bank will at least look at you loan request.

@Amy Nguyen  a good agent and or mortgage broker should be able to calm seller down and assure them that closing will be next week.although if seller thinks they sold way to low and wants out.. then you need to read your contract.. in our market here ( and its different everywhere) if you don't close on the close date contract is voidable.. and you would not have any standing..with the new TRID laws I would be writing closing addendums with my contracts addressing these up front...