What is a secure online property exchange that removes the need to physically attend settlement?
Electronic conveyancing or e-Conveyancing is the term used for transactions and settlements conducted electronically.
PEXA stands for Property Exchange Australia. PEXA is Australia’s online property exchange network and enables users to lodge documents and complete financial settlements electronically.
The company that provides the electronic platform used for e-Conveyancing and the electronic platform system itself is called PEXA.
How does it work?
Documentation is scanned and uploaded to PEXA by your settlement agent.
What does it do?
The PEXA system automatically checks that online documents have been correctly filled in.
Is it checked?
Settlement agents and financial institution staff sign the documents once they are satisfied, thereby confirming settlement can proceed.
Is it fast?
Settlement occurs online and can be completed from 9am (whereas a manual settlement cannot start before 11am).
From 1 May 2018, all settlements in Perth and throughout Western Australia will have to be lodged electronically using PEXA.
Can we PEXA today?
Yes, you can! Call us today for more information.