I came up upon blog from Louisiana Real Estate agent about “bond for deed”. I read article and it kind of “hit me”…How different Real Estate rules, laws, even Real Estate words are from state to state. Of course I knew that this is the case: being “in escrow” in some states is “being under contract” in Florida. Some states require attorney to handle closing, where in Florida we can use Title Company, etc. Going back to Louisiana : “Bond for deed” in non existing in Florida…but maybe I am wrong. Maybe it is like “rent to own”… if that is the case, I have never seen this in Real Estate Transaction. To me it looks more like “owner financing”, but with Title changing hands after loan is paid off. Well…long story- short…So different.
Long story- short. If you are moving from state to state and you think that you know how Real Estate transaction should look…think again. And ask questions.
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