No Money Down Deal - Can I struckture this deal this way?

[Steven Gough]

Hello All

I am looking for a little advice/guidance. I am looking at purchasing a commercial property (multi-unit apartment building) and I believe I might be able to do it with no money down...as long as my theory holds up. Below is the break down...I am not using exact numbers here just ballparking.

Purchase Price: $600,000

Owner is willing to finance half with half down

Here is my question:

Can I get a credit back at closing with a commercial loan?

If I get a commercial loan for $600,000...(I would have to provide $120,000 for 20% down payment, leaving a total loan amount of $480,000)...The $480,000 goes to the seller (more than half of the asking price which is more than what he requires for owner financing)...The seller then credits back to me $120,000 at closing, creating an owner financed loan of $240,000 and giving me a no money down deal. Is this possible?

Thanks!