Buy or Sell Fast Without Mortgage Company Red Tape!
Use Louisiana "Bond for Deed" for Buying or Selling Your Home!
New Orleans and Surrounding Metro Areas: Orleans, Jefferson, River Parishes
59 Bond for Deed Homes
You have come to the right place if you need a list of "Bond for Deed" owner-financed homes. Each home will have photos and complete detailed descriptions.
Bond for Deed financing is best suited for those that may not presently be able to qualify for a standard loan through a bank etc. Typically an owner will offer Bond for Deed financing for 1 to 5 years, but can be for whatever time period both agree to.
A down payment is most ALWAYS required. (10% to 30% downpayment is typical). In addition to the downpayment, you will need cash for closing cost. The interest rate is usually about the same as a conventional loan. If you do not have cash for downpayment and closing cost, then Bond for Deed is NOT for you. Bond for Deed is for people that have bad credit, recent divorce, new job, tax problems, or just want temporary financing for whatever reason.
Once the Bond for Deed becomes due, the loan balance would be paid off using a conventional mortgage loan. (Hopefully you will now be able to qualify for a conventional loan)
Louisiana Bond for Deed financing is a win-win for both buyers and sellers. Sellers can expect a much faster sale than might otherwise be possible in with cash on hand, possibly by selling the property, or by refinancing today's market because they are in a unique position that allows them to sell their property to buyers that may otherwise not be able to buy through conventional means.
The seller will receive monthly payments from the buyer with interest. The balance of the loan is due at the end of the agreed term. Insurance, taxes, and repairs are paid by the buyer. The escrow company can take care of administering the loan for a very reasonable monthly fee. If the buyer defaults on the agreement, the seller will keep any down payment that he received from the buyer, and take possession of the property along with any improvements to the property that the buyer may have made. The seller retains the title until the buyer has paid the balance in full.
If you are a buyer or seller that wants to know more about using a Bond for Deed, please click here to get an online video and brochure about Bond for Deed financing.
You will be hard pressed to find a list of bond for deed homes anywhere else... so bookmark this page and come back often to view new Bond for Deed homes that are presently for sale!
If you have any questions or wish to view any of the Bond for Deed homes, please call me at 908-5536 or contact me from the contact box that the property is displayed on. (Be sure to mention the address.)
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