The assumption is, you are not qualified for a bank loan. The home owner does not want to get stuck with a dead beat buyer/occupant. Recovering from such a bad decision is costly to the owner. To assure this does not happen, you the buyer, will need to present a BIG PILE OF CASH to finance your own eviction and the rehabilitation of the home when you are gone, plus a generous amount for the hip bank. The prudent seller will have made their profit and obtained security before you ever get a key.
Unfortunately, some homeowners who watched those midnight, 'Get Rich Through Real Estate' shows, did not make these precautions and will be financially crippled when their 'option' buyer jumped ship and left them with a pile of liability
The very best path for you to take is to apply the discipline and patience required to fix your credit. Trying to circumvent this process will, in the long run, be costly to you.
Be assured, if you have a BIG PILE OF CASH, there is a home waiting for you. There are two predatory resources available to you that provide this option. I won't volunteer them, but I'm confident someone will name them.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL