What are the benefits of an Aussie Deposit Bond?
There are a number of significant benefits of Aussie Deposit Bonds:
Cost Savings
The funds that would normally have been used as an up-front cash deposit can remain invested thereby earning extra
interest.
Convenience
People who are selling their house in order to buy another may have their money tied up as equity in their current home, and do
not have the 10% deposit when exchanging contracts. Deposit bonds are a quick and convenient
way to overcome this problem.
Simple
Your deposit may be locked up in a term deposit, shares or in another property. It can be a costly and time-consuming process to
gain access to the funds to effect the exchange of contracts on time.
Auctions
Deposit bonds can be issued prior to auction which means you do not have to worry about organising your deposit in a hurry. The
Deposit Bond can be issued without the property particulars meaning that if you are unsuccessful with one property, the bond can
still be used to secure another.
Refunds
Of course, if you do not use the bond and return it within 30 days of issue, you will receive a refund, less an administration fee of
$110 (including GST).
Peace of Mind
An Aussie Bonds Deposit Bond is secure because payment is guaranteed. The Guarantee cannot be cancelled once the bond has
been used to secure a property and contracts exchanged.
