Southern Escrow & Title Services, Inc., is proud to have been
Louisiana's first licensed escrow agent for Bond for Deed transactions.
We maintain a dedicated Bond for Deed department so that you can be sure your transaction is handled properly.
Unique Features of a Bond for Deed
A Bond for Deed is a contract to sell real estate in which the purchase price is paid in installments and the title is transferred after all payments are made.
A Bond for Deed is just another way of financing a real estate transaction. Whether you are a purchaser or a seller you may want to consider this method since in the event of default you regain title after a 45 day cancellation notice is given instead of a lengthier, more expensive, judicial foreclosure proceeding.
- That only two parties, buyer and seller, need to agree on terms
- No mortgage company approvals, no appraisals, no origination fee, and no points
- Easily compared to owner financing or assumption but with much more inherent security since title is retained by the seller until all payments are made
- Payments must be made to an Escrow Agent if the property has an existing mortgage