Louisiana Escrow Agent Bond for Deed

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Escrow Agent Bond for Deed
License & Permit Bonds
Varies
Louisiana Escrow Agent Bond for Deed Simply put a Bond For Deed is a form of Seller Financing. It is a contract to sell Real Estate in which the purchase price is paid in installments and title is transferred after the payments are made in full. In other states, Bond for Deed is usually called Contract for Deed or Land Contract. Bond for Deed contracts may seem relatively new, however, laws covering Bond for Deed contracts have been in existence since 1934. Recently, the Louisiana legislature enacted legislation that protects the Buyer under a Bond for Deed by not allowing any subsequent judgments or liens against the Seller under a Bond for Deed contract to prime a Bond for Deed contract. To protect all parties, Louisiana law requires the services of a licensed escrow agent. The escrow agent is responsible for collecting the payments, paying any underlying mortgages and issues IRS 1098 interest reports. In the event of non-payment, the escrow agent sends the required notices to both Purchaser and Seller. The contract allows the Seller to take back the property if payments are not made within the time allowed and without the costly expense of judicial foreclosure. Escrow Services, Inc. is the only statewide commercial escrow agent that has the experience and expertise required to properly service Bond for Deed contracts.
SORPid: A-158

Escrow Agent Bond for Deed

Bond Details

State: Louisiana
Category: Escrow Agent Bond...
Obligee: Louisiana Office ...
Amount: Varies
Duration: Stated on Bond
Expiration: Stated on Bond

Cost: Depends on applic...

Escrow Agent Bond for Deed
Cost:
Depends on application
State:
Louisiana
Category:
License & Permit Bonds
Obligee:
Louisiana Office of Financial Institutions
Amount:
Varies
Duration:
Stated on Bond
Expiration:
Stated on Bond
scottsig
Escrow Agent Bond for Deed

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How do I get a Louisiana Escrow Agent Bond for Deed?

The application process for a Louisiana Escrow Agent Bond for Deed is quick and easy, usually only taking about five minutes from start to bond download (most instant issue bonds). Simply click the Buy Now button below, complete the few questions for the bond application, pay, then print your Bond (preferably in color). By posting a surety bond, principals pledge to comply with the conditions of any written contract or applicable law.