What is eConveyancing, and how does it work?
eConveyancing is an online process for settling property transactions, allowing for the electronic signing of documents and transfer of funds. It is more efficient than traditional methods but carries some risks, such as system failures or transfer errors.
What is PEXA?
PEXA (Property Exchange Australia) is an online platform used for electronic conveyancing (eConveyancing) in Australia. It allows the electronic settlement of property transactions, replacing the traditional paper-based process. Through PEXA, parties involved in a property transaction, such as buyers, sellers, solicitors, and banks, can prepare, sign and lodge documents with the land registry, as well as transfer funds electronically.
What are the benefits of using PEXA?
The key benefits of using PEXA include increased efficiency, reduced paperwork, and quicker access to cleared funds, as all these processes are handled digitally.
