Bond for Deed-Owner Financing? #1 Site for Owner Financed Homes in New Orleans!
Bond for Deed Homes and Owner Financing…
Thank You For Finding Our Site! We at Turner Real Estate are the leading source for helping homeowners and home buyers with buying and selling both owner-financing and bond-for-deed properties throughout the state of Louisiana. We have helped thousands of homeowners and home buyers alike come together in nearly three decades of brokering real estate. We have agents all across the state ready to help you.
So, Would you like to be a Homeowner next week? We at Turner Real Estate can make that happen. Choosing to buy a house with owner financing or doing a bond for deed is a great way to become a homeowner. Many of the homes available through a bond for deed or owner financing are vacant. This means you can become a homeowner within a week of finding your new home. Most owner-financing and bond for deed properties are amortized for 30 years to keep payments obtainable. The term is for 2-4 years after which time the buyer can renegotiate with the seller to extend the length of the term or the buyer may elect to obtain traditional mortgage financing. This is much easier to get after your name is one the deed and you can show proof of ownership. Keep in mind a traditional bank or mortgage lender will still have to pull your credit and verify your employment so you’ll want to make sure to keep your credit score above 640 to make the process much easier on you when the time comes.
This Site Updates Every Hour with New Owner Financing and Bond for Deed Properties for sale. Call 985-626-1313 to see any properties.
The exciting part of a bond for deed is that you get credit as a homeowner when looking to refinance the property. Many consumers have less-than-perfect credit for a variety of reasons. Job layoffs, cutbacks, and the economic issues of the past have resulted in problems finding qualified buyers for conventional financing. Bond for deed is a solution that provides buyers with an alternative to home ownership. In addition, sellers who are not looking for a quick ‘cash out of the equity in their home will effectively turn it into an investment. Owner financing & bond for deeds often result in fast closing. There is no background check, usually no credit check or verification of employment when buying a house bond for deed
I simply tell people you just need to bring a check to closing for 10% of the purchase price.
Is a Bond for Deed recorded? Yes, owner financing & bond for deed homes is a legal transaction and recorded at the register of deeds office. All the papers are drawn up and signed by the parties involved. The only difference is the full deed transfer will not take place until the seller has been paid in full. The procedure includes a contract between the seller and the buyer. From there it proceeds like a traditional real estate transaction. The buyer may elect to do a home inspection as well as an appraisal on the property.
Who Do I Pay the Payment To? The buyer sends the payment for the home to the escrow company and they pay the mortgage on the property owned by the seller. This is the case if the seller has a mortgage on the property. Any surplus money after the mortgage payment is paid is deposited into the seller’s bank account.
For sellers, this method can be a beneficial way of selling their home without it being on the market for a long time. Selling a home bond for deed is a quick closing, typically within a week.
Turner Real Estate. For a property tour call 985-626-1313
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