Electronic Conveyancing
Updated: Sep 7, 2020
The world of conveyancing has been changing rapidly in recent years and those who have not been adapting have fallen behind. Amidst changes with Covid and the compelling need to remotely connect, the availability in conveyancing firms to complete a property transaction completely online is a great advantage.
Online settlements have become mandatory in NSW and most states are following suit, if they have not already. The ability to lodge title documents and settle balances due on a purchase contract have made the process much quicker and arguably more secure. The settlement platform used is PEXA (short for Property Exchange Australia). This online tool links in the the finance providers, titles office and property practitioners around Australia.
Identity verification can be completed online with service providers and contract signing with programs like Docusign are becoming more of the norm.
Contracts and legal advices can easily and instantly be sent by email to be discussed over appointment platforms like Zoom.
Even just 5 years ago the skeptics of e-conveyancing and progress in the industry were fearful. Today most appear to be converts and satisfied that the progression and innovation within the property law industry is moving in the right direction.
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