How To Sell A House By Owner Financing In Louisiana – The Step-By-Step Guide

Many homeowners are learning that there are new alternatives to selling their property that weren’t previously available as a result of the recent changes in the economy. You no longer have to sell through an agent—you can sell yourself or even accept seller financing. Continue reading this blog post if you’re wondering how to sell a house by owner financing in Louisiana.

Step 1. Ask yourself if you have a mortgage

In some places, you might not be permitted to offer owner financing if you have a mortgage (but you can in other states). Consequently, the first step is to ask yourself if you currently have a mortgage (You should know).

Step 2. Have a real estate attorney craft an agreement

You become the bank with seller financing. The purchaser will give you a down payment and continue to make regular monthly payments until the property is paid in full, at which point it becomes theirs. In order to guarantee that you are protected and abiding by all local, state, and federal regulations as well as safeguarding yourself, be sure you speak with a real estate attorney! (If you need the name of a good real estate attorney, get in touch with us and we can make an introduction.)

Step 3. Market your house on and offline

You can start advertising that you have a house for sale once all of your documentation is in order. Make sure potential buyers are aware that you provide seller financing. You should market as much as you can. The bigger your potential pool, the better sales price you will receive.

Step 4. Work with potential buyers

Once potential buyers contact you, you can do showings of your house. When someone makes an offer, negotiate the price and terms with them and find the middle ground that will ensure a win-win situation. When you and the buyer agree, sign the paperwork.

Step 5. Collect the down payment and hand over the keys

Once the buyer signs the papers, you should collect the down payment and hand over the keys. You will typically continue to own the house and collect payments until the house is paid off, then ownership transfers to the buyer.

If you’re wondering how to sell a house by owner financing in Louisiana , we can help. We might be able to offer you some advice or even work out an owner financing arrangement where we buy your house from you. Talk to our team at (225) 288-7209 or by clicking here to fill out the form.

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