MEMBERS OF Australia’s e-conveyancing community can perform transactions online by following these eight simple steps. These include property transfers, mortgages, discharge of mortgages, caveats and financial settlement.
1. Prepare the contract (as per the traditional paper process).
2. Verify the identity of your client and obtain a client authorisation to sign and submit documents on their behalf.
From a client’s perspective, it’s just one document and you’re done.” - Shelley Davi, Total Conveyancing.
3. Log in to PEXA and open a workspace.
“With PEXA all the tasks are in one online workspace, saving time. And there’s complete visibility of what’s happening.” – Claire Martin, Kreisson.
4. Input the land title reference into the workspace and validate – this allows key data from theland registry to pre-populate into the workspace, reducing duplicate data entry, the chance of lodgement failure and costly post-lodgement requisitions.
“By going online, land registry documents are lodged in real time.” – Hal Ing, Finemore Walters & Story.
5. Schedule the settlement date online and invite all participating parties to join the workspace. Throughout the transaction, all documents are held in the workspace to avoid duplication and errors. Documents are signed with a digital signature and you can track the progress of other parties, giving full visibility.
“Because there’s no paper involved, you can check the documentation prior to settlement, and settlement doesn’t occur unless it’s all been veri ed.” – Steve Shelley, Boothby & Boothby Solicitors.
6. At this stage you can offer your clients a free PEXA integrated app, SettleMe. This allows them to keep up to date with their property settlement, and lets you set tasks for them.
“My client was so happy with being able to track their settlement and it was a really valuable add-on service.” – Garth Brown, Brown & Brown Conveyancers.
7. Say goodbye to spending hours on the phone for a payout figure. The outgoing mortgagee is prompted prior to settlement by PEXA, and adds the payout figure to the workspace the day before or on the day of settlement.
“There were no payout faxes, no phone tag chasing payouts, everything simply happens through PEXA.” – Craig Green, Gadens.
8. Finally, enter the vendor’s banking details so funds are automatically transferred to the nominated account. The client could receive funds on the same day as settlement!
“E-conveyancing has benefited us in so many ways. It’s immediate, it’s accurate, it reduces risk.” – Elissa Robertson, Robertson Conveyancing. PEXA Direct is a free service where experienced lawyers and conveyancers come to your office and assist with all your e-conveyancing needs – from registration to completing your first online settlements. They have already assisted over 1,000 practitioner firms acrossAustralia.
Joan Lentini, director of Complete Conveyancing & Corporate Services, described her PEXA Direct experience as “a marvel – the PEXA support has been outstanding”.
Ready to make the change? Contact PEXA today on 1300084515 to inquire about a PEXA Direct specialist, or visit the e-conveyancing community at community.pexa.com.au to discover how to get started and connect with yourpeers.