PEXA - An online digital system for conveyancing transactions.

At Dylan & Inns we are registered PEXA members and conduct all property settlements via this electronic workspace.

PEXA is a digital workspace for settlements and is widely used across Australia, doing away with manual paper settlements that were time consuming and prone to failure.

With PEXA, all settlements happen online and in real time, allowing documents to be prepared and exchanged, and funds to change hands between parties in real time. Documents are lodged with Queensland Titles in real time allowing for instant registration of the transfer, reducing risk of documents being delayed or requisitioned.

The system works by having an online workspace created, where all parties to the transaction, being the buyer, the seller, their banks and any interested parties can participate in and share documents and correspondence, as well as manage the financial aspects of the conveyancing process.

This means settlements are more likely to occur on time, and that funds are electronically deposited and paid to the relevant parties immediately. No more waiting for cheques to clear. The system constantly checks the title of a property and advises of any changes, such as caveats being lodged, and allows for documents to be prepared ahead of time and verified by all parties prior to settlement.

It also allows for settlements to occur same day between states.

Settling via PEXA means as a buyer or seller, you don’t need to attend settlement and your lawyer can do all of the work for you, in a secure way, providing a much more seamless transaction. PEXA has helped to streamline conveyancing, eliminating paper documents and allowing you to buy or sell with ease.

Our lawyers are specialists in PEXA and can answer any questions you may have about the process.

For more information about PEXA visit their website - https://www.pexa.com.au