Owner Financing

Because of the tighter credit requirements and higher down payments that banks are requiring from applicants, the greater New Orleans real estate market is experiencing more properties for sale that offer owner financing.  Negotiating the terms of a owner financed transaction requires an in depth understanding of real estate financing regulations, procedures and costs.  Whether you are a buyer or seller, having knowledgeable counsel that will guide you through a owner financed real estate transaction can save you valuable time and money.  Owner financing is not a viable option  for all sellers if they already have existing mortgage(s), and cannot obtain their bank’s approval to sell. It is, however, a great option for sellers who have complete ownership of their property, and who wan to sell to a buyer that cannot obtain traditional financing through a bank.  Essentially, sellers who owner finances the sale of their property are in many like your traditional bank; their advantage is that they can attract more potential buyers.  At Tribute Real Estate we always advise our clients to seek legal advise prior to initiating a owner financed real estate transaction.  Our team of attorneys are fully qualified and enthusiastic about providing a thorough and cost affective plan of action to protect our clients throughout an owner financed transaction.