Deposit Bonds may substitute a cash deposit

Deposit Bonds may substitute a cash deposit

A Deposit Bond comes in the form of a guarantee that is used by the purchaser as a substitute for all or part of the cash deposit given to the vendor when signing a contract of sale.

At settlement, the purchaser is required to pay the total purchase price of the property including the deposit amount that was previously given as a guarantee.

A Deposit Bond does not remove the purchaser's obligation to pay the simply defers it.

Deposit Bonds are a cost effective and convenient alternative to various forms of short-term lending products.

Deposit Bonds may be used for owner occupied, investment and commercial properties in private sale, auction, and off-the-plan negotiations - fees and conditions apply.