No, Section 4.B does not apply in this situation, and those boxes should not be checked. Only Section 6 applies if the seller provides financing and no institutional lender is involved.
All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.