What is a deposit bond?

November 03, 2014
Sally Boswell

When you have found the perfect property but need the deposit to secure it, is where a deposit bond can be used.

It is a substitue for cash and can be issued for up to 10% of the purchase price.  This means when purchasing a residential property, you don't have to pay the deposit in cash when you exchange - you will just pay the full purchase price at settlement.

Who may need a deposit bond?


Posted in: Home loans

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