When purchasing property, most contracts allow for a 5-10% deposit that must be paid at exchange. Your conveyancer or solicitor will help you determine what is expected but your circumstances may determine your options.
But what if I don’t have the cash available right now, or I am relying on the sale of my home to fund my next purchase?
What if I would prefer not to use my cash for this purchase – what other options do I have?
Deposit Bonds or Bank Guarantees, allow you to purchase a home or invest in property without having to provide the deposit in cash. The bond or guarantee is a substitute for the cash deposit required when purchasing a residential property – you simply pay the full purchase price at settlement. Both short and long term guarantees are offered to suit most settlement terms.
If you would like a quick obligation free quote, simply tell us the purchase price of the property and term that is required. For off the plan purchasers this term is noted in the contract as the “Sunset Clause”..