WHAT IS A DEPOSIT BOND?

When buying a property or land, you have to provide a cash deposit, normally up to 10% of the purchase price. This deposit is used to guarantee the commitment of the buyer to the contract of sale.

If you are looking to buy, but do not have ready or convenient access to the 10% cash deposit required, a deposit bond may be the solution you are looking for.

There are many reasons why you could benefit from a deposit bond:

Borrowing 100% of the purchase price with the loan funds only available at settlement;
Purchasers who do not have the cash deposit when entering into a contract of sale;
Purchasers or investors who have their assets tied up in property and are cash poor;
Buying and selling simultaneously;
Your cash is working harder for you elsewhere, like your offset account and it can make financial sense to use a deposit bond instead.

Whatever the reason deposit bonds are a smart and viable alternative that can make it easier for you to purchase property or land when you do not have ready access to the 10% cash deposit required.

Ready to Apply?

Simply click the 'Get Started' button to complete the quick Concierge form. Here’s what you can expect:

You will get a Pre-Approval within 15 minutes;
Your application will be sent to you within 1 business hour for eSigning with Docusign;
Once your application is signed & payment is made, we will dispatch your deposit bond within 1 business hour. Sounds easy? It is!
Settling under 6 months, the one-off deposit bond fee is 1.3% of the deposit amount required.

How do I pay and sign?

When the application is sent to you, by default you will be sent a secure link by email to make payment by credit card and also to sign the application with Docusign.

Should you wish you can also pay via direct EFT or request to sign and scan the application manually.

What happens if my purchase falls through?

You can request a refund within 30 days of the Deposit Bond’s issue date. We will process your refund less a $200 administration fee, Alternatively, we can apply your credit to a subsequent purchase. Please send all requests to bonds@depositassure.com.au.

When do you transfer the funds to the vendor?

We do not transfer any funds to the vendor, we are only providing a guarantee for the deposit amount which you will pay at the time of Settlement.

What do I do with the bond when settlement takes place?

When Settlement takes place the deposit bond expires and is no longer valid.

The vendors legal representative who would be holding your deposit bond can choose to dispose of the deposit bond or file it away.

If you have obtained a long term deposit bond, and there is still greater than 6 months remaining on your bond, you can send the original deposit bond to Deposit Assure to see if you are eligible for a pro rata refund. For Digital Bonds issued after December 2020 please email bonds@depositassure.com.au *conditions apply

Want to learn more about what is a deposit bond and how they work?

Below you will find a selection of some handy resources that will help you understand what deposit bonds are and how they work.

Video 1: What is a deposit bond overview (3 mins viewing time)

Video 2: What is a deposit bond overview (1 min viewing time)

Video 3: 4 Things Vendors Need To Know When Considering a Deposit Bonds versus a Cash Deposit (1 min viewing time)

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Everything You Need To Know About Deposit Bonds

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