There are many reasons why you could benefit from a deposit bond:
So we get it, you may be unsuccessful in your attempts to secure the property you want at auction. Therefore, we make it super easy for you and issue you with an auction deposit bond that can be re-used for multiple auctions and properties within the purchased timeframe until you are finally successful!
The auction bond is issued without the vendor’s names, the property address and the final purchase price. Think of it as an open deposit bond – preapproved up to 10% of your maximum intended purchase price.
Once successful at Auction you can:
We strongly recommend you speak to the auctioneer, real estate agent or vendor’s legal representative before the auction to confirm they will accept a deposit bond in lieu of cash.
How long should I get the deposit bond for?
An auction deposit bond can be purchased for a 3 or 6 month term only, and for any deposit bond under 6 months the one-off fee is 1.3% of the deposit amount required.
The deposit bond can be extended if the settlement date goes beyond the Expiry Date on the deposit bond. A one off admin and processing fee of $200 will be charged to obtain a extension.
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