E-conveyancing is here
Buying and selling property is set to become simpler, quicker and more transparent thanks to the roll-out of Australia’s first national e-conveyancing platform, PEXA.
PEXA is owned and operated by Property Exchange Australia and is a national property exchange open to all States and Territories (Excluding the ACT at this stage) banks, financial institutions, non-banking financial institutions, and property lawyers and conveyancers.
The new online platform is set to remove the manual processes and paperwork associated with the exchange of property and will provide significant benefits for purchasers and vendors through time savings, greater transparency and immediate access to the proceeds of sale.
Essentially, the new streamlined process will allow lodgements and property settlements to be completed online in a simple transaction including the disbursement of funds.