Why do purchasers like Deposit Power Guarantee?
Many of todays purchasers have the 5 10% deposit required to enter into an contract tied up in the current home, investments, or they are borrowing to include the deposit. This means that purchasers would need to look into bridging finance or borrowing from a finance company at high rates. Guarantees offer an efficient alternative which saves time and money. Can I use the Guarantee at Auction? Yes. A Guarantee can be organised and issued prior to the auction. The Guarantee amount is fixed, but property and vendor details remain blank, this enables you to attend a number of auctions. When you are the successful bidder you simply fill in these details. Will the vendor accept the Guarantee? The Guarantee is legal and available in all states; however it is the sole discretion of the vendor to accept it. It is recommended that a Suggested Special Condition (found on the back of the Guarantee Certificate) is inserted or annexed to the Contract of Sale. This condition will amend the deposit p
