Do you lack immediate, ready access to the cash deposit or down payment required to secure a property (USA only) that you are pursuing?
If you have found a property and need a short term deposit to secure an accepted purchase contract, or an alternative down payment solution to acquire a property via contract for deed / land contract, we can help by providing a down payment bond. Using this instrument, you are in a position to secure the perfect personal residence or investment property quickly, without the need for a cash deposit or down payment.
We can help at Lgpotter33@gmail.com for more details
We offer short to medium term surety bond guarantee solutions to accommodate contractual closing / settlement terms of up to 6 months, and contracts for deed / land contracts with up to 36 month balloon payment / take out requirements.
Down payment bonds are suitable for all types of residential and commercial property including vacant land. Should you require an extended time horizon beyond those typically offered, our down payment bonds are renewable for subsequent 6 month increments for an additional premium.
For full details send your request to us at Lgpotter33@gmail.com
Note: Note: The owner will receive 100% of the agreed upon price of their property at closing.
The down payment bond is buying the borrower time and replacing any required earnest money deposit.
Q. Part of the DP problem is more with the lenders than the sellers. This seems to be a tool to bring comfort to the seller. How can this bond be used to secure financing from lenders who require 20% down before they fund you, even on a hard money flip?
A. This is not a tool to secure financing from lenders. It is used as an assurance to the seller that full funding will be provided upon closing.
Q. Are these best used for “seller finance ” situations?
A. No, it is best used for when you do not want to tie up your liquid assets before closing.
Q. Do you know of any lenders that would lend using a DP Bond with a ballon payment at the end? I’m thinking either sell the property or refi out .
A. It would depend on the lender. We cannot specify any offhand.
Q. Have any of your clients had much success using this instrument?
A. Yes, many.
Q. How tough is the vetting process?
A. Not difficult. You just have to be able to show you have net worth equal to the value of the bond.
Lgpotter33@gmail.com for more details