What has made you Angry Today???????

[jay see]

Farkin realestate agents! They made me angry today...

Not much longer mate.

[mudski]

Not much longer mate.

My agent is fine. Its the little ship on the house we want. Got a call at 8.30 last night, we have to make an offer by 5pm Friday as apparently "the other couples" offer has been accepted by the owners, AND we need to also provide a 10% deposit. Which might prove near impossible to provide since the sale of our place is tomorrow.

[Winnie]

My agent is fine. Its the little ship on the house we want. Got a call at 8.30 last night, we have to make an offer by 5pm Friday as apparently "the other couples" offer has been accepted by the owners, AND we need to also provide a 10% deposit. Which might prove near impossible to provide since the sale of our place is tomorrow.

You can use a deposit bond instead of a cash deposit. Ends up costing about $500 but it means you don't have to have the cash upfront.
It is basically an insurance policy to the vendors to say that if you stuff them around and the sale falls through then they are guaranteed their 10% deposit. The company issuing the bond will then chase you for the money.
If sale goes through as normal then you just pay the full amount at settlement.

[Hodge]

Far out Mark that's come around quick.

[jay see]

You can use a deposit bond instead of a cash deposit. Ends up costing about $500 but it means you don't have to have the cash upfront.
It is basically an insurance policy to the vendors to say that if you stuff them around and the sale falls through then they are guaranteed their 10% deposit. The company issuing the bond will then chase you for the money.
If sale goes through as normal then you just pay the full amount at settlement.

That's exactly what we did.
Paid a $500 deposit and the rest at settlement 4 months later. Ours was a fee of $300, but you mightn't have enough time.

[Winnie]

That's exactly what we did.
Paid a $500 deposit and the rest at settlement 4 months later. Ours was a fee of $300, but you mightn't have enough time.

Yeah it depends how much you need them to guarantee on the amount.

[mudski]

You can use a deposit bond instead of a cash deposit. Ends up costing about $500 but it means you don't have to have the cash upfront.
It is basically an insurance policy to the vendors to say that if you stuff them around and the sale falls through then they are guaranteed their 10% deposit. The company issuing the bond will then chase you for the money.
If sale goes through as normal then you just pay the full amount at settlement.

Fark I forgot about that!We did this 13 years ago when we bought this place. Thank you! I still wanna head butt this agent though. Lol.

[mudski]

Far out Mark that's come around quick.

Too quick Eric. Well the sale of our place hasn't come quick enough. Its just this other place, the agent knew our place is up tomorrow, I reckon he's just trying to push us into a corner. Atelast is they accept we still have the 3 day cooling off if tomorrow turns to crap. Which I won't, from the amount of interest we have had on our place tells us. But you never know.

[Winnie]

Fark I forgot about that!We did this 13 years ago when we bought this place. Thank you! I still wanna head butt this agent though. Lol.

No worries. We are using one for our purchase.

[Clunk]

No worries. We are using one for our purchase.

Used ine for ours too as my miney at the time was tied up in the UK banks and they were being difficult