What is online property settlement?

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Your buying or selling journey starts online – with website searches, mortgage calculators and other online tools.

But until recently, the conveyancing process has been stuck in the ‘80’s – it was mostly done offline, with paperwork and postage increasing the risk of errors and delays, leading to more stress and financial loss.

Thankfully, digital property settlements are now available. It streamlines the process for buying and selling property, so you can move into your new home or receive funds from the sale sooner – and with less hassle.

Benefits of online property settlement

Digital property settlements are facilitated by PEXA, an online lodgement and settlement platform used by lawyers, conveyancers and banks to securely complete property transactions.

Online property settlement provides many benefits:

Electronic document signing – Your lawyer or conveyancer can complete document signing electronically on your behalf. This eliminates missing or mismatched signatures that could cause delays, and means you don’t need to physically be present during the process.

Sharing documents – No more documents being misplaced or lost in the mail – all settlement documents are digital and sharedonline amongst the relevant parties.

Less errors and delays – Manual processing is prone to error and delays. PEXA’s online document checks provide greater certainty of an on-time and low-stress settlement.

Get your money… fast – Online settlement eliminates the need for bank cheques, saving you time, money and hassles. Sale proceeds are processed as cleared funds to your nominated accounts.

Instant lodgement – The lodgement of documents to transfer ownership happens instantly with online settlement, not days or weeks after settlement as with manual processing.

Easier for you – Finally, online settlement means there’s no longer any need to spend time physically obtaining and signing a paper transfer document. Your appointed lawyer or conveyancer represents you online using the PEXA platform.

PEXA Key app

The PEXA Key app offers a range of benefits that help buyers and sellers settle with confidence. These include the secure communication of bank account details to other parties, and keeping you posted on the progress of your settlement.

Use smaver smartlist to save you time, money and hassles to get settled in your new home sooner.

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