Posted by Arthur on October 28, 2003 at 17:01:35:
I believe what you are describing is simulatinous closing. As i have not done that myself, i cannot comment on if the seller knows, but from my understanding, they won’t know.
There are other ways to buy without your own money, hard money lending is one option, or the banks the other. usually, banks will lend you a % of the market value. So, if they will lend you 85%, and you find a property at less than 85% of market value, then you will not have to put any money down and may even walk away with some.
Hope that helps.