It’s not often that a new vendor finance technique crops up but it has and we are happy to announce it was launched just over a week ago.
The new technique is called the Deposit Builder.
In short, it’s made up of a standard Contract of Sale for the State the property is in, along with:
- in NSW, VIC and WA, a Licence To Occupy.
- in QLD, TAS and ACT, a standard Residential Tenancy Agreement (Lease).
Australia’s most experienced vendor finance lawyer, Mr Tony Cordato, has been the driver behind this new technique and Tony has been kind enough to produce a two page information sheet on the Deposit Builder.
This information sheet is a must-read.
I’m sure this new technique will create quite a buzz. I look forward to your feedback.