Sorry, we are back in the world of "reality based lending". That means a lender will loan against the value of the agreed upon sales price or the appraised value, whichever is less. Several years ago the concept you describe was often done, but even then it involved loan fraud, because the basic rules of the game hadn't changed.
At this point in time, the only way you are going to get money back out of this purchase (other than the first time homebuyer tax credit) is to buy it and do a refinance. This is assuming that an appraiser will actually appraise it for more than 20% above the current value of your loan and new loan costs, since most lenders require that you have a 20% equity for a cash back refinance. If you would buy this house only if you could pull more money out, you need to have an in depth discussion with a very good loan officer about your ultimate intent, or you could be in for a nasty surprise.
