Louisiana Bond for Deed Escrow Agent |
AmeriPro Surety Bonds | 844-589-9732
A Louisiana bond for deed takes place when a buyer of real estate agrees to make installment payment on property and agrees to receive the deed for the property after the completion of those installment payments.
An escrow agent for deed is a person licensed to facilitate the distribution of those payments.
In order to be licensed as a bond for deed escrow agent in Louisiana, you will need to purchase the appropriate surety bond amount. Our agency provides the amount required.
Surety Bond Amount and Requirements
According to the Office of Financial Institutions, the minimum amount of the Louisiana bond for deed escrow agent is $10,000.
Thereafter, the Office may adjust the required bond amount according to their calculations.
Qualifying for the bond involves a standard surety bond application and a credit inquiry. It will take a good credit profile for our agency to be able to have you bonded.
You will be asked the following:
- Whether you have any lawsuits or judgments against you;
- If you have ever had a surety bond canceled or denied;
- If you have a bankruptcy, unsatisfied judgment, or tax liens.
Premium Amount and the Bond’s Duration
The premium will be 2% of the bond’s amount. Once issued, the bond is active for one year from the date of issuance.
The Purpose of the Your Bond Requirement
The purpose of the Louisiana bond for deed escrow agent is to serve as a financial guarantee which ensures your compliance with all laws and regulations concerning acting as a deed escrow agent.
As stated within the bond wording, its purpose is for both the state of Louisiana and any consumer who suffers harm from any acts of fraud, theft, or malfeasance on the part of an deed for escrow agent in the course of their professional duties.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Louisiana. Our agency also provides surety bonds nationwide.
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