and Bank Guarantees
of a Deposit Bond or Bank Guarantee for the Purchaser;
purpose of a Deposit Bond is to enables the Purchaser (you) to provide
to the Vendor (Seller) a Guarantee that the deposit amount (usually 10%)
will be paid at settlement. This is ideal for long settlements or "off
the plan" purchasers which take up to 2 years to completed.
alternative to the above Deposit Bond is a Bank Guarantee, however
rather than paying a once only premium with a Deposit Bond based on the
amount and term a Bank Guarantee can be an option depending on your
a Bank Guarantee requires security which is usually covered against
adequate equity in any existing property you may have or against a Term
benefits included for both these options which may depend
depending on your circumstances are;
don't need to go to the expense and time delay in arranging
when purchasing property.
inexpensive and quick (usually within 24 hours of loan approval).
When property is selected, signing of contract can be immediate.
wish to discuss these option further please contact us.