Phoenix Bail Bonds is a Large Bail Bonds Specialist. We have provided large bond services throughout Central and Northern Arizona for almost 20 years. Putting together large bonds over $10,000 is not an easy task. We will do our best to qualify you for whatever size bond you need.
Requirements for Large Bail Bonds
Arizona requirements for large bonds are two-fold. First, you must have collateral. Collateral is a tangible asset that you pledge as security, it must be at least equal in value to the bond amount. Collateral may be cash, it can be charged on one, or more credit cards, or it can be equity in qualifying real estate. Collateral is always returned to you once the case is over and the bond has been exonerated. If you put up cash, or charged the bail amount on a credit card, we would either mail you a check, or make a deposit into your bank account. If you used real estate, we would record a deed of release. The second requirement for a large bond is you must pay a 10% non-refundable fee. The fee is set by state law. There may be other costs like recording fees, travel expense, credit card processing, etc. Any and all fees are fully disclosed and discussed with you prior to signing any contract.
Large Bail Bonds are held by the court until sentencing. Upon sentencing the court will exonerate the bond and return it to us. It doesn’t matter if the defendant is found guilty, or innocent, all bonds are returned by the court upon exoneration and your collateral will be returned, or refunded by us.
Using cash for your collateral is the easiest and most flexible way of doing a large bond. Cash may be provided by making a deposit into one of our bank accounts:
- Bank of America
- Wells Fargo
- National Bank of Arizona
- Glacier / Foothills
You can also use one or more credit cards, or wired funds. Upon exoneration of the bond, your funds will be returned to you by mail or by bank deposit.
Real Estate Collateral
Using Real Estate for security is a popular method for large bonds. Qualifying real estate will be contingent upon the location of the property and available equity. Generally put, we determine the current market value of the property, discount the value by 20% and subtract the current mortgage balance to initially see if the property qualifies. We look at a variety of other factors, including:
- Your mortgage payment history,
- If you are current on property taxes,
- If you have insurance,
- If your insurance covers our bond amount,
- The overall condition of the property.
There are certain states that we can’t take property for collateral because the state forbids it, or the process of securing property is too difficult, i.e., Texas, Illinois, Colorado and New York. Most other states we don’t have a problem with. Generally speaking, we can’t take mobile homes, modular homes, or raw land. We typically accept frame built homes that are free and clear of liens, or where the equity value exceeds our bond amount.
- Location matters.
- Condition matters.
All liens are recorded at the county recorder’s office. Once the case is over and we have received the Order of Exoneration, We will record the Deed of Release, thereby releasing the lien we have put on your property.