A Deposit Bond is an alternative form of deposit that is provided by the purchaser of a property when exchanging contracts.
Should the vendor agree to accept the Deposit Bond, a Deposit Bond provides you with the flexibility to pay the full purchase price at settlement. Deposit Bonds are available for amounts between 5% and 10% of the purchase price.
Deposit Bonds are available for either up to six months (for those who expect to settle within the short-term of six months) or between six to forty-eight months (for those who expect to settle in the long term).
Buying a new home?
If you are planning to buy a new home after selling your existing one, a deposit bond can enable you to secure your new property without the hassle of bridging finance or waiting for your funds from your existing property to settle.
Thinking about purchasing a property from an auction?
Deposit Bonds provide you with the convenience of purchasing a property from an auction. In this instance, a deposit bond may be issued allowing you peace of mind to bid at auction.
Are you an Investor?
As an investor, deposit bonds allow you the conformability of paying your cash deposit of your new property at settlement.
"Off The Plan" Purchases
A Long Term Deposit Bond up to 48 months is available for those people who do not wish to tie up their cash, pending completion of a residential property.
Please note:
Information that is contained on the web site should be used as a guideline only. You should seek advice from professional financial, legal and real estate specialists before purchasing a property and/or applying for a loan.