Is refinancing a seller carry a feasible zero-down strategy?

[Austin I.]

Hey community,

I'm trying to wrap my head around structuring a hypothetical zero down deal CA. Does this scenario make sense or am I missing something here?

1. I control the property using zero-down seller financing - owner carries a mortgage for the agreed upon amount

2. Officially record the mortgage with the county and get my name put onto the title

3. Make monthly payments on time, keeping records of payment history

4. Apply for a traditional bank refinance after 6-12 months

5. Qualify for the refinance and cash the buyer out

Voila... a zero-down deal (minus the obligatory closing costs) with a happy seller

Does this sounds about right? Or am I missing something?