Based upon their business model this could be exactly the scenario they are looking for..i.e. borrower fails to perform on a deal with a solid spread, they take over complete it, sell it, or add to their own portfolio.

Most of the previous people failed my credit check.

It is not to allow a wholesaler to run around trying to sell the house, while having a way out of the contract if he fails to do so.In my area, 7 days is a pretty standard length of time for an inspection contingency.I strongly suggest getting a license.  

Probably a little of both but that is why so many fail.  

In fact when you take the test in CA they don't even give you your grade it's just pass or fail.

It would cost a great deal more to proceed without meeting codes and then fail inspections.In my humble opinion, you are better off paying a decent fee to the architect rather than cutting corners and having a bunch of missing details and code issues.

. :)  there are many reasons why sellers don't want to be a party to these transactions and allow assignable contracts.. number one is the deals fail all the time.. exactly whats happening to you right now...

They fail to understand they're designing it for resale not to live in themselves.

Because the bank's risk of taking a loss loaning you 80% of a house is way less than loaning you 90% of a house if you fail to pay.

Is Chicago another Detroit or is it too big to fail?