Bond For Deed
Bond For Deed
"Louisiana Bond For Deed - Owner Financing"
Bond for Deed properties are when the owner retains title to the home yet the buyer is recorded on the deed. The sellers mortgage does not have to be paid off for the home to be sold on a bond for deed. The sellers mortgage company is informed of such real estate transaction. This quick videos explains. We have a specific list of Covington and Mandeville bond for deed properties. Go to www.NolaBondForDeed.com Here you will also see every bond for deed home on the Northshore. To get full access to the entire Realtor database check out www.LocalNorthShoreRealEstate.com
If your looking to do a lease purchase in Mandeville or Covington, please consider a bond for deed. They are a win-win for both the buyer and seller. As a buyer you typically only need 8% to 10% down and there are no closing cost. Home buyers also get to claim the interest and tax paid on the property.
Interest on a bond for deed is typically 6 to 7 percent depending on the owner. The mortgage is amortized on a 30 or 15 year term putting the payment cheaper that most rent. There is for the most part no credit check or income verification with a bond for deed. To search these homes in addition to bank foreclosures log onto. . .www.NolaBankOwned.com
Louisiana has been doing bond for deed real estate sales since 1933. Give us a call if you have any questions.