We agreed to a 45 day close with pre-approved buyers on the ONLY 3 bed 2 bath house for sale at the beginning of August.  

They were also only approving $1,250, whereas I got $1,400 at market rate with several tenants that pay their rent on time.I have a Sec 8 tenant I inherited in Richmond, but haven't lived next to her.

There's an approved, local company, Vantage,  in N Phoenix (208th & Tatum) that offers the tools to do this. 

The bank approved the number $115,000. 

.- Does not require a Survey Ordered- Does not require an appraisal (just another thing to combat, if comes back low & usually does)- Any Condition is Ok, does not have to meet any FHA guidelines etc.Bank Financing- 45 Days to close- Multiple reasons why a buyer will not get approved for a loan- Funding can be pulled a day before closing- Requires an Appraisal/ Survey- Has to be in move in condition, with no structural problems- Getting paid will be a pain if you do not have a Real Estate License and can receive a commission- And/Or Assigns may not work for most bank financing.

For that reason, they can't get approved for a new loan.

(didn't know husband did an interest only) We were pre approved with our HML and could buy the property out right if we couldn't wholesale it.

@Bryan Johns  I would say you need a little capital built up or have a pre approval letter.

The HML we are approved with out here charges 6pts that we can either pay upfront or on the back end.

Is it possible to double close on this home at a lower price than what my seller owes as long as the seller is willing to pay the outstanding balance and does that mean the home will be a short sale if he tries to get this approved by the bank?