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Louisiana Real Estate Contract

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What is a Louisiana Real Estate Contract?

A Louisiana real estate contract is a legally binding agreement between a buyer and a seller that outlines the terms and conditions of the sale of real estate. A real estate contract will include essential information like:

  • Purchase price
  • Closing date
  • Conditions to meet before the sale is finalized
  • Property address and legal description
  • Property defects or issues

To be legally binding and enforceable in Louisiana, a real estate contract must be signed by all parties involved in the transaction and it must comply with all applicable state and federal laws.

Common Louisiana Real Estate Contracts

There are several types of real estate contracts may be used in Louisiana. Each contract serves a different purpose based on the property type. Common contracts include:

  • Residential real estate contract. Used when buying or selling land or a building that will be used for housing. In Louisiana, most real estate agents use the Louisiana Real Estate Commission approved purchase agreement.
  • Commercial real estate contract . Used when buying or selling property zoned for operating a business like an office building.

4 Essential Elements of a Louisiana Real Estate Contract

The 4 essential elements that every Louisiana real estate contract must include to be valid under state laws are:

  1. An offer by the buyer to purchase the property
  2. Acceptance of the offer by the seller
  3. Consideration (usually the exchange of money for the property)
  4. The intention of both parties to enter the agreement

Can a Seller Back out of a Real Estate Contract in Louisiana?

Yes. A seller can back out of a real estate contract in Louisiana if the contract includes a contingency clause allowing them to do so or if the buyer breaches the contract. In addition, the Louisiana Real Estate Commission's rules allow for a seller to back out of a contract if the property is destroyed or made uninhabitable before closing.

See Real Estate Contract by State

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Meet some of our Louisiana Real Estate Contract Lawyers

Steven C. on ContractsCounsel
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Member Since:
July 21, 2020

Steven C.

Managing Partner
Free Consultation
Dallas, TX
43 Yrs Experience
Licensed in LA, TX
University of Houston

Steve Clark has been practicing law in DFW since 1980. He is licensed in both Texas and Louisiana state and federal courts. He concentrates his practice on business clients and their needs. He has been a SuperLawyer in Texas since 2011, and is Lead Counsel rated in Business Law. He is also a Bet the Company litigator in Texas.

Sean S. on ContractsCounsel
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Member Since:
June 21, 2021

Sean S.

Attorney
Free Consultation
New Orleans, LA
9 Yrs Experience
Licensed in LA
Tulane Law School

I am an attorney with six years of experience drafting and negotiating a wide variety of business contracts, in industries including technology and software, finance, professional services, hospitality, and non-profits.

Candace M. on ContractsCounsel
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Member Since:
February 24, 2023

Candace M.

Attorney
Free Consultation
Prosper, Texas
25 Yrs Experience
Licensed in LA, TX
Loyola University

For over 20 years, as an attorney and real estate broker, Candace has used her passion for business and real estate to help her clients succeed as business owners, entrepreneurs Realtors, and real estate investors. She and her team go above and beyond to simplify and solve those issues which trouble her clients. From the simple to the complex, she is ready to help. Her experience includes, Real Estate law, Contracts, Business Formation, Business Operating AGreements and Entrepreneurial counseling.

Keren G. on ContractsCounsel
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Member Since:
July 13, 2023

Keren G.

Partner
Free Consultation
New Orleans
16 Yrs Experience
Licensed in CA, LA, NV
University of California, Davis School of Law

Keren E. Gesund has extensive litigation expense. She has successfully defended and prosecuted claims against debt collectors, banks, credit reporting agencies, subcontractors, manufacturers and consumers who have suffered harassment or injury. She handles contentious business and commercial cases for both plaintiffs and defendants in state and federal court.

Haroldo M. on ContractsCounsel
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Member Since:
January 8, 2024

Haroldo M.

Attorney
Free Consultation
Miami, Florida
16 Yrs Experience
Licensed in LA
Loyola New Orleans College Of Law

A seasoned attorney dedicated to navigating complex legal issues and devising strategic solutions for my clients.

Leonid G. on ContractsCounsel
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Member Since:
February 22, 2024

Leonid G.

Principal
Free Consultation
Baton Rouge, LA
6 Yrs Experience
Licensed in LA, MA, NY
New York University School of Law

I have been practicing law since 2018. I used to be a litigator at a nationwide practice before going in-house at a fintech company. I have experience drafting NDAs, SaaS contracts, service agreements, and stock purchase agreements.

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Real Estate

Real Estate Contract

Illinois

Asked on Mar 27, 2022

what is better to buy land or rent for construction in US?

we are a construction company from Ukraine, we are planning to build a cottage town in the USA

T. Phillip B.

Answered Apr 5, 2022

I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 18, 2022

WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233

SON AND EX

Meghan T.

Answered Mar 29, 2022

Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas

Read 1 attorney answer>

Real Estate

Real Estate Contract

New York

Asked on Dec 26, 2021

Can you purchase or refinance under a land contract?

I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.

Jane C.

Answered Jan 11, 2022

I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 24, 2022

How many years does a quick claim become effective?s

Number of years for quick claim to be effect ive

Meghan T.

Answered Mar 29, 2022

A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas

Read 1 attorney answer>
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