Deposit Bonds

Deposit bonds are a great alternative to paying your deposit in cash.

A deposit bond offers a lot of advantages. First, you can leave your saving in an account that continues to earn interest. It also presents a chance for you to avoid time delays and penalties you might incur from breaking a term deposit.

Having a deposit bond can also give you the right to buy at auction or off the plan. A deposit bond can be effective for up to four years.  They are also helpful with auctions - prior to auction, the bond can be issued, which means you do not have to worry about organising your deposit in a hurry. The bond can be issued without property particulars so you can attend multiple auctions.

However, there are some disadvanatges. For one, most vendors are hesitant in dealing with deposit bonds if they want the cash deposit immediately.

Get more information and apply for deposit bonds here.