Here’s what they’ve done to see to it, you’ll never have a chance at doing this.
1) Restricted the Title Companies with full disclosure to all parties.
2) Title Companies now require Full Disclosure to the Buyer and the price the first buyer bought the property for.
3) Fannie Mae properties have verbiage which require the first buyer to hold onto the home for 90 days or face lawsuit.
4) FHA and Conventional Lenders require two appraisals for properties owned less than 60 days.
If you’re planning on placing a cash offer on a home, with the hopes of a double close, please take into consideration all possible scenarios that could take place. First and foremost, before placing a cash offer on a home, you should research who the seller is and if they ( lender/bank ) allow for a double close. Then, you’ll need to contact the title company they are going through and find out if they know how to handle a double escrow. Not all Title companies do.
If you manage to get that far, you’ll need to be prepared for the possibility of the second buyer finding out what price you bought the home for and what price you’re trying to sell it for.
Even if, you manage to get this far, you’ll still need to confirm the new lender will allow for such a transaction. Disclose, Disclose and disclose is the only way you can get through a double close without having major issues. Or worse, lose the earnest money you placed down. And with cash offers, most lenders want to see 10% down on Earnest Money.
I can assure you one thing in a lender owned property and that is most lender addendum’s have double close clauses in their contracts.
Escrow can be opened at any title company accept when the property is bank owned. Bank owned properties require the buyer to open escrow at a specified title company because of the volume being done by the lender. Most lenders will specify one title company to handle all their business to prevent fraud or liability in a sale. For example, a double close or double escrow that does not disclose buyer A’s purchase price could be grounds for buyer B to sue for nondisclosure. The title companies assigned to banks know this and are aware of other types of liabilities to the lender such as an assignee clause. Which allows the contract to be sold to another buyer for a price above what the bank agreed to sale the home. The title company the bank chooses are familiar with what is allowed under the banks terms which is why they do not prefer using other title companies. 
We recently had the mortgage lender, 
AS IS properties can be purchased FHA or Conventional; however, most AS IS homes are in need of minor to major repair. Any repair work that will deem the property 
With the amount of resale homes contracting it’s becoming harder to find an ideal type of property for prospective buyers. Most homes on the market need several thousand dollars worth of repairs to make the property livable. We recently showed about 5 homes priced around 180k in Gilbert. These homes needed work and seemed to be priced with the market but wasn’t worth putting an offer on when you could drive up the street and buy a new home with less hassles. 
Resident of Phoenix Area for over 10 years, I know the Valley of the sun! I have over 5 years in real estate and over 4 years in mortgage financing. Rest assured, I can help you find a home. Whether you're buying or selling, I'm always on the ball and are prompt to answer questions either by phone or email. Please email or call me if you have any questions. My mobile is 480.297.2008 