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| Q: What is the Zurich Property Deposit Guarantee? |
| A: It’s simply a financial guarantee. It’s a totally secure promise that Zurich make to you on behalf of your buyer. The Guarantee allows the buyer to delay paying the deposit until the build is complete. Once the build is complete, the buyer will pay you the full property price. |
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| Q: How does it work? |
| A: Instead of paying the deposit in cash, the buyer purchases the Guarantee from Zurich Bank. You, the developer, agree to accept it in place of a cash deposit, as the Guarantee means you are 'guaranteed' to get your deposit on completion. You are given the Guarantee at exchange of contracts and should the buyer fail to pay the deposit on completion, you will be able to make a claim to Zurich for the deposit amount. |
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| Q: What are the benefits for me? |
A: There are many benefits to offering the Zurich Property Deposit Guarantee as part of your sales process. - The Zurich Property Deposit Guarantee is as good as cash because if the buyer fails to complete, Zurich Bank guarantee to pay you a sum equivalent to the deposit.
- The Guarantee removes one of the potential barriers to a sale and removes the need for your buyer to have to find the cash for the deposit right away. Preparing your client for exchange whilst allow you to reserve the property with confidence.
- If buyers don’t need to tie up capital to reserve the plot they may consider purchasing more than one.
- It provides a very attractive alternative to part-exchange schemes.
These are just some of the many ways the Guarantee could help you sell more homes, please give us a call on 0845 88 22 888 or email us on theteam@thexbond.com to find out more.
Click here to view the questions buyers are asking us and here to view our terms and conditions. |
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