1300 224 828

DEPOSIT BONDS

A deposit bond is a written guarantee which can cover a buying party for the deposit on the purchase of property. Deposit bonds are alternatives to cash deposits. The purchase price is still paid on settlement by normal means (i.e. cash or loan).

Deposit bonds are typically used when a party is borrowing 100% of their funds, such as:

    • Buyers waiting on funds to be released from another financial transaction, such as the sale of another property
    • Buyers who have not saved a cash deposit, yet are eligible for a loan
    • Buyers who are using a family guarantor
    • Buyers utilising equity in another property
    • For any reason a party does not have funds until settlement

They can be issued for up to 10% of the purchase price (i.e. $50,000 if the property price is $500,000). However it is possible for a Conveyancer from HLC to negotiate a lower deposit percentage, meaning we may be able to reduce the cost of the bond if the alteration is accepted by the vendor.
It is possible to utilise a deposit bond for many types of property transactions, predominantly:

    • Residential
    • Investments
    • Off the plan purchases

Deposit bonds may also be used in the more rare property transactions, such as buying businesses or retirement villages. Deposit bonds can be compatible with both private treaty and auction sales.

Hunter Legal & Conveyancing offer a service to assist people acquire a property using a deposit bond and are partnered with reputable bond providers. This is best to take place after a verbal offer on a property has been accepted, but before contracts have been exchanged. An offer must be accepted before a bond will be issued.

Our team of expert Conveyancers will then assist you with the remainder of the Conveyancing process and make it a breeze.

For more detailed information read our article on A Beginner’s Guide to Deposit Bonds.

What our clients say about us

Stacey Sullaphen
Stacey Sullaphen
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Nothing but praise for HLC who handled our purchase right on the border of NSW & QLD, making it tricky indeed. Sue & her team kept on top of everything and informed us every step of the way! Would not consider using anyone else for our Conveyancing or legal needs.
Rick M
Rick M
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I cannot begin to say how easy purchasing a home was with the help of Hunter legal and Conveyancing. Sue and the team made a difficult task simple. I will definitely be using HLC for my next house.
Shane Nevin
Shane Nevin
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I couldn't have asked for better service than what i received from Dawn when purchasing our block of land last year. Very helpful, extremely professional, service with a smile. 🙂
Karen Fenning
Karen Fenning
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Highly recommend Hunter Legal & Conveyancing , Sue and her Team went above and beyond for us they came to our home to sign our new House Contract when it was difficult for us to get out and about with our disabled son.
Leanne McDonnell
Leanne McDonnell
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The Team @ Hunter Legal & Conveyancing are exceptionally great @ what they do as a team, their excellence to detail and support were outstanding, Thanks to Sue and The Team, from the front desk to beyond you all went out of your way to help me achieve the purchase of my new property. I would highly recommend Hunter Legal & Conveyancing. Thankyou ALL again. Leanne. Kurri Kurri.
Steven Sales
Steven Sales
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No mucking around, they just get in and get the job done. Friendly staff Made the process of buying a house less stressful
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Vicki Hobbs
Vicki Hobbs
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I have found them most helpful, with the sale of my house. You would be happy with their service if you went with them.
Mathew Sefian
Mathew Sefian
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Incredible work. I needed people on the ball, proactive and experienced enough to navigate a settlement in 5 days after an exchange. Any one who knows property, banks and sollicitors knows this is a big ask. Hunter legal were all over it !!! And we did it. Great work cant say enough about this team.
Brad Driscoll
Brad Driscoll
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Erin and the team from Hunter Legal and Conveyancing were a pleasure to work with. Made the process straight forward and easy to manage.
Toni Walsh
Toni Walsh
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I work with Hunter Legal on a daily basis and always find them easy to communicate with, always friendly and happy to help any way they can. Would happily refer them to anyone who is wanting to buy or sell real estate.
Chris Lyttle
Chris Lyttle
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The team at hunter legal are very helpful and where able to sort everything out while I was working away. Ebony done an excellent job with the sale of my house and buying my new house.
Darren Doyle
Darren Doyle
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The staff have been awesome right from when I called to get there help in buying our home, highly recommended HLC to everyone looking for professional help in anyway. Thank you so much Susanne you made our job easy. Keep up the great work.
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Kathie Morris
Kathie Morris
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Big thank you to Ebony, Erin and team for handling both property sales and purchases for us recently. All transactions were delivered professionally and thoughtfully, considerate of our time and availability.
Ryan Drury
Ryan Drury
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Fantastic service. Went above & beyond with my recent home purchase. Highly recommend this professional crew. Special shout out to Jasmine for her fantastic efforts. Thank you so much.
Trevor Laker
Trevor Laker
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Sue and Ebony were amazing after having a bad experience with another Conveyancer, a pleasant and easy transaction and nothing was to much trouble for these girls. We would have no problem recommending them they at least sell peace of mind when they take you on as a client.
Terry Bradley
Terry Bradley
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Having moved from interstate and not knowing anyone, Sue was recommended by the real estate agent. She was very friendly and pleasant to deal with especially when we had dramas. Would highly recommend their services.
Kasey Williams
Kasey Williams
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Ebony and Erin assisted me in purchasing my first home. They were incredibly professional and guided me through every step of the process, answering all of my questions and providing valuable assistance along the way. Thankyou so much!
Steve Jarmain
Steve Jarmain
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I have engaged Sue and the friendly team at Hunter Legal twice in 12 months on Conveyancing and purchasing realestate. its a pleasure dealing with such professionals. They are very efficient, have great communication and are very approachable. I highly recommend Hunter Legal and will continue to use their services in the future. Again well done to Sue and your proactive team.... Thank you...
Danielle Fox Harland
Danielle Fox Harland
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Sue Mosley and her team at Hunter Legal and Conveyancing were a pleasure to work with. Sue and Jasmine have a straight forward approach to Conveyancing and legal matters which made the process of purchasing a property stress free and easy. Her honesty, expertise and in depth knowledge enabled us to achieve a property settlement in a short amount of time. Sue and her team went above and beyond our expectations in all areas of customer service and legal representation. We would highly recommend Hunter Legal & Conveyancing.
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THE PROCESS

When you first call
Firstly, please phone us on 1300 224 828, we can provide a fixed quote over the phone, and schedule a meeting. Please note, we have a mobile service throughout the Hunter, and can also perform this service digitally.
In the event a person requires a deposit bond, 

we will verify your financial circumstances (i.e. waiting on funding).
We will then compile the paperwork so we can obtain pre-approval for the deposit bond, allowing us to easily process the remainder of the application when necessary.

deposit bond | title insurance | strata or community title

Our first meeting
We will perform a verification of identity. Please bring your driver’s license and a birth certificate or passport, as well as a Medicare card.
In the event you are unable to meet us face to face, you can also perform a verification of identity at a local Australia Post branch – which will automatically send your verification into our software portal.

During the first meeting, we will review the contract of sale for the respective property, obtain financial details, loan approvals as well as any other items we require and sign relevant documentation.
What we’ll do

After the first meeting, we will submit the application and relevant documentation to Deposit Assure.
The deposit bond will be issued 24 hours later (subject to the status of your finance approval).
We will then assist with the remainder of the Conveyancing process, which usually takes between 4-6 weeks.

DEPOSIT BOND ELIGIBILITY

To acquire a deposit bond, a party must satisfy eligibility criteria with the bond provider (which is usually approved finance or the sale of the property before a deposit bond is issued).

In a typical circumstance, a party would first contact a bank or mortgage broker and complete an assessment process with the lender. 

As the party most likely does not have a cash deposit, the loan will probably be assessed with other assets, such as funds coming from the sale of another property.
HLC can then assist our clients with the bond application.

FAQ

In our experience, no, they are happy with either cash or bond. Bond providers are usually owned by large organisations (i.e. QBE Insurance Australia own Deposit Assure). So utilising a deposit bond provides a sense of security to the vendor that the sale will finalise.

By default, they are valid for three months. Though in some circumstances, we would request it so it matches the term of the contract.
For example, for off the plan purchases that will be constructed in two years, we would request the bond to be valid for two years, so the bond doesn’t need to be renewed and corresponds with the sunset clause in the contract of sale.

Yes, in this electronic age we can assist you as this is a fully digital service.

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