Seller is done with it, gets his cash back and buyer is getting a 30 year mortgage.

I live in Miami where I currently believe it is and will be for some time a sellers market. 

I am three months in to looking at properties, finding one, negotiating the deal, getting under contract, clearing inspection items and seller credit, getting the lender appraisal, etc etc.

One question I have is, say I get a seller to sign a purchase and sale agreement and have 21 days to find a buyer of my place in the contract... what if I can't find one?

I have been trying to compile the most comprehensive commercial due diligence for each side, seller & buyer, and have a lot of information to be thorough yet efficient.

The refinance is correct as you described except the unsecured loan was only for $33,464.34 after some credits on the closing statement from seller.

Auction.com is just trying to get a commission from the seller (bank).

We have a handful of Comercial lenders local to Fall River where I live and operate my businesses, who will go down as far as 10% down on the loan as long as you can get the seller to hold a note for 15%.

Basically, I had no choice but to get the loan from finance guy(who by the way can pre-approve me in 30 minutes if I finish on-line application process) that I never met due to last minute request from the seller.  

I am closing on a 2 unit in two weeks and was able to negotiate a new roof and other minor repairs to be made after close using funds from the seller out of sale proceeds.