My answer to your question would be "Yes, BUT VERY CAREFULLY". There are many reasons for not doing this, lender acceptance among them for any portion of the amount that will not be carried by the Seller.
Very often, Sellers will sell a property to transfer the headache of the property to the buyer. Or, for those that may carry 100% of the note, to transfer the payment of insurance, property taxes and maintenance for the period the buyer holds the property. Also, to gain the interest income from the property during this same hold. (The longer the buyer holds on, the better for the Seller, as he or she will likely structure payment of taxes and insurance to be paid directly to to the note holder (seller) as a part of the note agreement. This to assure the essential cost items are paid timely.)
Then at some time following if the buyer gets into trouble making the note payment, the note holder, (the seller), will then foreclose; and can begin the process all over again at some future time.
I may be a skeptic, but as I said just exercise great caution and ask yourself, why is the seller willing to sell with no down-payment required?
Good Luck and Onward and Upward!
Feb 15, 2013