Seller Financing Question

[Mike Mefferd]

I am looking at putting in an offer on a 4 plex where the seller would carry back a loan, amortized over 30 years, and a balloon payment after 5 years. In this scenario, since a 4plex qualifies a residential unit, do Dodd Frank laws apply to the seller holding the mortgage for me? I just want to make sure they wouldn't be in trouble with any of the lending laws out there.

Thanks,

[Brian Gibbons]

@Mike Mefferd

investor to Investor, where the person buying is an investor, 

that's then renting it out to tenants, 

Dodd Frank does not apply

If you're in Ohio look at land contract, talk ton

@Timothy Murphy III

He's a great attorney in Ohio