Deposit Power Bonds
With a deposit bond from Deposit Power, you can secure a property quickly and easily because there is no cash upfront
What are deposit bonds? A quick overview
A deposit bond is a secure financial guarantee that assures the seller of a property the deposit will be paid at settlement.
It’s particularly helpful if you’re waiting on money from investments or sales but want to move forward with your property purchase now, or don’t quite have enough for a full cash deposit yet.
Why use a deposit bond?
A deposit bond requires an eligibility assessment to ensure you have the financial capacity to settle on your purchase, however it does not tie up your cash or assets. When you provide a deposit bond to the seller, this serves as a promise that the deposit amount will be paid at settlement.
With a deposit bond from Deposit Power, you can secure a property quickly and easily – giving you extra time to sort out the cash deposit and pay the full 100% of the property value at settlement.
How does a deposit bond work?
A deposit bond is a powerful alternative to a cash deposit, allowing you to secure property without tying up your savings. It provides the same security to sellers and vendors as a cash deposit, while giving you greater financial flexibility.
Using a Deposit Power deposit bond is simple. Once approved, you’ll receive a fully digital bond with a QR code for instant verification. Just present the bond to the seller or real estate agent as your deposit guarantee – it’s secure, convenient, and ready to use right from your phone.
Whether you’re buying at auction, off-the-plan, or through private sale, Deposit Power can help you move forward with confidence.
Step by step
It’s common… you've found the ideal property but lack the full cash deposit or don't wish to tie up your funds while selling your current property. Don't worry: with a deposit bond, you can prepare for a purchase, even without a full deposit.
It’s that simple.
1. Application process
Submit your application to Deposit Power with details about the property purchase and your financial position.
Learn more about qualifying for a deposit bond.
2. Quick approval
You’ll receive approval almost immediately and your digital deposit bond will be delivered to your device within minutes.
3. Purchase and settlement
Present the digital deposit bond to the seller or real estate agent instead of a cash deposit when signing the contract of sale.
Pay the full purchase price, including the deposit amount, at settlement. The deposit bond expires once settlement is completed.
Ask how Adroit Conveyancing can assist you in applying for a deposit bond
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