Electronic conveyancing (eConveyancing) is going to become mandatory in Queensland for certain transactions. It is set to be enacted in conjunction with the Land Titles Regulation 2022, on the 20th February of 2023. This change comes 10 years after the introduction voluntary eConveyancing under the Electronic Conveyancing National Law (Queensland) Act 2013.
Bennett Carroll Solicitors are the industry leaders in electronic conveyancing and have using PEXA online settlements since 2018.
PEXA Settlements – What are they and what is the risk to you?
PEXA is an acronym for “Property Exchange Australia”, an electronic settlement platform. The standard-form REIQ Contract was amended recently with input from Bennett Carroll, to allow electronic settlements. eConveyancing or electronic settlements is the use of a web-based platform to conduct property settlement transactions.
Some of the key benefits include:
Real time lodgement of Titles Registry documents
Fast access to cleared funds for property sellers and agents
Greater certainty of a successful, on-time settlement
No need for physical attendance at settlement
What’s the risk?
Despite the years of phasing in, many firms are unready for this improvement. The absence of internal training and procedures at some firms creates a risk of unsafe movement of your funds.
Why choose us?
Buying and selling property is an exciting time, but if the process doesn’t go smoothly, it can be stressful to the point where you might wonder if it’s really worthwhile. Bennett Carroll Solicitors are the industry leaders in electronic conveyancing and have using PEXA online settlements since 2018.
At Bennett Carroll, we believe that buying or selling a home, investment property or commercial premises should not only be exciting, but easy and stress-free as well.
Whether you are buying or selling, our expert conveyancers can assist you every step of the way, giving you peace of mind and ultimately saving you time and money. Contact us today