Seller Financing – Seller Carryback Loans Are Exempt From Usury In California, when a seller of real estate finances the purchase for the buyer with a note secured by a deed of trust, the financing is commonly referred to as a seller carry back loan.

Initial funding, we were selling our primary residence, anyway, in 2008, so went low down owner loan on new house and used proceeds from sale (with that great homeowner tax-free exemption) to invest, but many are underwater these days so that may not work.

They also have an exemption for equivelent experience, which among other things can include experience as an investor or developer.

Commercial loans are exempt from consumer usury laws since they are to protect consumers and homeowners.

How can you say that someone is exempt from responsibility for their bad decisions because they were pursuing a get-rich-quick scheme.

Which means all non owner occupied properties are exempt.

In some circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family housing sold or rented without the use of a broker, and housing operated by organizations and private clubs that limit occupancy to members.

If you are unable to find where this data is stored for your county from a simple google search use this website: http://www.netronline.com/ For instance I can query my counties database and find absentee owners that live out of state and own property in my target market area, property with 15 year + deed dates (rough estimate for potential equity), various tax exemptions such as age 65+ / veterans/ disabled etc, filter out bank owned properties, find estates that have not yet settled etc.

You are exempt from capital gains taxes if you owned the house for at least two years and lived in the house for at least two years out of the first five.  

Your seller will probably be exempt from the new legal requirements.