Hi all,
My wife and I are very excited to announce we've found a very good OTP property down the street from one of our IPs. The lead came from our PM, God bless her soul.
Anyway, we were told that an option to a deposit bond, which we're pretty sure we could get, is a bank guarantee. What is a bank guarantee and how does it work? All I know is "it's cheaper" than a deposit bond. Since we have a bit of equity in our other properties, it sounds like it might work. I think it's based on equity we have already. But in an OTP situation, how does this fit in?
Cheers,
Jireh
My wife and I are very excited to announce we've found a very good OTP property down the street from one of our IPs. The lead came from our PM, God bless her soul.
Anyway, we were told that an option to a deposit bond, which we're pretty sure we could get, is a bank guarantee. What is a bank guarantee and how does it work? All I know is "it's cheaper" than a deposit bond. Since we have a bit of equity in our other properties, it sounds like it might work. I think it's based on equity we have already. But in an OTP situation, how does this fit in?
Cheers,
Jireh