It depends on whether the property is bank owned or being sold by a private party. Private sellers might be a little reluctant and their reaction would depend on what type of competition you are facing. For a single family house most of the properties in your range are probably going to be bank owned. They are looking to sell as quickly as possible; so you will probably be fine. I am actually waiting on a bank response to a similar loan program. I could let you know what type of reaction you are facing this week if you are interested.