NO, that would be a prohibited transaction. 

If that is the case, like others have said, get a real estate attorney to draft a purchase agreement using your state standard contract.I'm not an attorney, nor is this legal advice.On a side note:Bank Holding Company Act (1956) and Omnibus Approprations Act (2009); I believe banks are prohibited from brokering real estate.

Such a deal creates an indirect transaction between you and the plan, which is prohibited, simple as that.

src=/program_offices/housing/ramh/res/respamor#HE2Section 9 of RESPA prohibits a seller from requiring the home buyer to use a particular title insurance company, either directly or indirectly, as a condition of sale.

That can get messy if it happens.Oftentimes sketchy applicants "wave a fistful money" under the nose of landlord, hoping they will not do their due diligence and overlook something untoward in their background.I'm not saying this is the case here, but I would (a) not take the advance payment, and (b) I would vet this applicant at least as thoroughly as all the others.Lastly, in some jurisdictions (like the state of NY, for instance) it is actually prohibited for landlords to take any deposits/advances amounting to more than one month's rent.

According to The Garn–St Germain Depository Institutions Act of 1982 the lender is prohibited by federal law from calling the note due. 

If the house was left to you, why are you prohibited from selling it? 

Relatives were buying the homes from relatives which is prohibited by almost very bank.2.

Regardless of what your state approved purchase agreement states, All banks, HUD, FHA, etc. have addendums (5-18 pages worth) that override the state contract and specifically prohibit the assigning of contracts on their properties.

Some ideas from others: · bank loans are not available on some types of properties · the tight lending climate has made bank financing "out of reach" for many · seller financing is an "age old" tradition based on private property rights · these rules would prohibit even partial seller financing - i.e. a "seller second" · according to HUD's "Residential Finance Survey" in 2001, roughly 40% of all non-farm residential properties in the US are owned free and clear · an estimated 6 million Americans own a property other than their own primary residence · an estimated 4.5% of Americans own three or more properties, many purchased solely as investment properties · 40% of non-owner occupied residences are mobile homes which are more difficult to sell with bank financing · approximately 5% of homes in US are for sale or for lease... seller financing may be key to liquidating this inventory The continued success of our industry as we know it is threatened by these proposed regulatory changes.