Yes, ESI is licensed by the Louisiana OFI, the same regulatory body that regulates banks and savings & loans. ESI is fully bonded and meets all regulatory bonding requirements.
ESI services land contracts, leases, and lease purchases in all 50 states.
ESI services Bond for Deed contracts only in Louisiana. and private mortgages in Louisiana and Texas.
ESI will service installment option contracts in some states, but not all. Please inquire for more information.
No. There are numerous advantages to both Purchaser and Seller in a Bond for Deed versus a lease-purchase including:
Yes, please inquire for more information on your specific circumstances.
As a general rule, no. Please inquire for more information.
Yes, if requested to do so.
Under a Bond for Deed in Louisiana:
Under a private mortgage:
A Bond for Deed is a contract utilized strictly within the state of Louisiana that is governed by the Louisiana Bond for Deed statutes. An Installment Option is a contract generally used outside of the state of Louisiana, contractually containing provisions that are provided for statutorily in the Bond for Deed contract.
It is utilized in Louisiana in unique circumstances where the parties do not wish to use a Bond for Deed or Lease Purchase.
In private mortgages, Bond for Deeds, and Installment Option contracts, taxes and insurance are typically the responsibility of the Purchaser.
In a private mortgage, Purchaser should obtain their own insurance and name Seller as additional insured, or mortgagee.
In a Bond for Deed or Installment Option there are varying insurance options. Please inquire for information specific to your circumstances.
Contact Escrow Services, Inc. at 985-626-3727 or service@EscroServ.com to discuss your specific circumstances.