ENAYBL Deposit Bonds Products for Australia
Our Deposit Bond Products
At ENAYBL, we understand the property landscape of Australia. With the Australian market in mind, we have carefully devised four products of deposit bond to cater to the diverse needs of Australian property owners:
Short-Term Deposit Bond
For those in Australia who are on the looking to buy an existing title property and are looking at a settlement timeline of less than six months, our Short-Term Deposit Bond is the perfect fit. To qualify for this product, you need to show you will have the funds available to complete on the purchase. This could be in the form of a loan approval, liquid cash available, or if you have sold an existing property we will need evidence of that sale. We ensure a streamlined process, making property acquisition in Australia smoother.
Off The Plan Deposit Bond
The ‘Off The Plan’ Deposit Bond is for buyers who want to purchase an Australia unregistered title property off the plan: such as an apartment currently under construction, or a block of land in a property subdivision. ‘Off The Plan’ Deposit Bonds can be issued for terms from six to sixty months, and even longer in some instances. To qualify for a ‘Off The Plan’ Deposit Bond, you need to own an existing Australian residential property, and have a certain amount of equity already invested in that property. The required level of equity will depend on the deposit amount, and the term the deposit bond is needed for.
Auction Deposit Bond
The Auction Deposit Bond is a product that is ideal for buyers who want to purchase a property at auction, but have not yet found the right property to buy. With an Auction Deposit Bond in Australia, we pre-approve the buyer’s Deposit Bond, for FREE, and for a set amount of cash. Then you, as the buyer, can attend multiple auctions safe in the knowledge you are pre-approved, – and can act rapidly to secure your sale.
To confirm a sale, when you are the successful bidder: first you contact ENAYBL, and send us a copy of the relevant pages of the Contract of Sale. Then, you pay the fee for the Deposit Bond, and ENAYBL will issue you the Deposit Bond, we complete with the specific details of property you are purchasing, for you to pass on the vendor, or their representatives.
Please note, Auction Deposit Bonds are issued for a maximum term of six months. To qualify for an Auction Deposit Bond, you need to show you will have the funds available to complete on a purchase. This can include: a loan approval, or cash you have available, or if you have sold an existing property the evidence of that sale.
Downsizer Deposit Bond
The Downsizer Deposit Bond in Australia is specially designed for buyers over fifty-five, who are looking to downsize, and encounter that common problem – coming up with the cash deposit to secure their future home. If this sounds like you, perhaps your wealth is tied up as equity in your home, or your money tied up in shares, or your superannuation fund earning you a good return? Often, cashing in those investments early, to find a deposit, can result in a tax liability, or loss of earnings……or both!
Furthermore, dealing with an Australian lender, to borrow a deposit, can take weeks, if not months, to organise. They require legal documents to be put in place; and they will want to take security over a property asset for any moneys they advance you; – and the process is no different if you want a bank guarantee. Making all these lengthy financial arrangements can be stressful, especially if you’ve found your dream home, and want to act quickly to secure it.
The Downsizer Deposit Bond is a simple, cost-effective solution, and it takes away all of that stress. Instead of taking weeks to organise your finances, ENAYBL can have your Downsizer Deposit Bond organised in a matter our hours.
To qualify for a Downsizer Deposit Bond, you need to own an existing residential property, and have a certain amount of equity in it. The required level of equity will depend on the deposit amount you need, and the term the Deposit Bond is needed for, to secure the sale.
