Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

The fact is that anyone who takes, leads, or carries away the property of another with the intent to convert it to their own use or deprive the owner of it is committing a crime. 

Located after a letter writing campaign and purchased directly from the seller without a real estate agent.

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.

However, there is no way to do so without risk.The Internal Revenue Services issues three (3) Private Letter Rulings (PLRs) that allowed the taxpayers to do just this.

For your next step, you might want to look into seller carry arrangements and joint ventures.

Just posted another 5 day letter at the front door.

@Joel Florek will your bank let you get cash out at closing even if the seller is carrying a note? 

 @Kobe Carr I haven't seen prices take a significant drop.