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    FREDRICK SMITH's Avatar
    FREDRICK SMITH Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jun 11, 2008, 10:57 PM
    Louisianas bond for deed
    I Have A Realtor That Wants To Buy My Property By Using Louisian Bond For Deed

    How Safe Is This? Should I Proceed? Will I Get Money Up Front,or When Property Is Sold?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Jun 12, 2008, 05:47 AM
    Hello F:

    I think you need to visit a real estate attorney.

    excon
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Jun 12, 2008, 06:50 AM
    I agree you should consult an attorney. The Bond for Deed is similar to a contract for sale (see Louisiana's Bond for Deed). You retain ownership until payment in full is made. What those payments are would be negotiated between you (another reason you need an attorney).

    This actually is safe for you because if the realtor defaults, you still own the property, and get to keep all he paid. The risk on your part is in damage to the property.
    cajuntomboy64's Avatar
    cajuntomboy64 Posts: 3, Reputation: 2
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    #4

    Jun 24, 2008, 05:54 PM
    You can actually sell your property to ANYONE whom you feel can make the payements to keep your property from foreclosure. It is sort of like a rent to own or lease option, the person makes payments to your mortgage company directly and papers are files at the court house, so when they do finally pay it off the deed goes to the new owners...

    Hope this helps...
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