DPA strategy.....100% No money down

[Rodney Dixon]

I need to know how workable is the tactic of using the property's equity to cover the down payment and closing cost as long as it supplements the rest of the funding being obtained?

Ex: Lender fund 65% of a $50k deal. The owner has 35% of the down payment as well as closing costs in built up equity.

In addition to the above question, would the closing of a transaction like this require an experienced closing attorney or title company?

I'm open to all additions or corrections to this.