Month: January 2015

Documents Needed by Clients for Financing

Question: I have a first-time home buyer client and we’re filling out the Louisiana Residential Agreement to Purchase and Sell.  What information will my client need to provide to her lender? Answer/Recommendation: It is a good idea for agents to know as much about the financing process as possible to effectively guide their clients and help streamline the process. While documentation will vary fr ...[Read More]

Louisiana Bond for Deed Specifics

Question: I have a client considering a Bond for Deed contract to purchase property.  In a previous newsletter, you mentioned there were some specifics that Louisiana law has for Bond for Deed contracts.  Could you elaborate? Answer/Recommendation: Absolutely!  In the spirit of brevity, I provide below some bullet point highlights of the Bond for Deed laws. The laws governing Bond for Deed transac ...[Read More]

Timeline for Presenting All Offers

Question: I represent sellers of a home.  I received an offer on the home from the agent of a potential buyer, but my sellers are out of town.  What should I do? Answer/Recommendation: According to the Louisiana Real Estate Commission Rules and Regulations, Chapter 39 “Presentation of Offers and Counter Offers,” Section 3901 entitled “Timely Presentation of Offers and Counter Offers”: A. All writt ...[Read More]

Use of Mandatory Purchase Agreements

Question: I represent sellers of a home.  I received an offer on the home from the agent of a potential buyer, but the offer is on a document prepared by the buyer (who is an attorney) and not on the Agreement approved by the Louisiana Real Estate Commission.  What should I do? Answer/Recommendation: Attorneys can be difficult, can’t they?!! In all seriousness, since we are dealing with a resident ...[Read More]