Home » What is e-Conveyancing?

What is e-Conveyancing?

by | Jun 2, 2021

Electronic conveyancing allows for convenient, paperless and efficient transactions when buying and selling property.

VAJ Byrne & Co Lawyers chose to integrate PEXA into our platforms for the long term benefits it will provide for our clients.
Security and confidentiality are paramount to our firm, so being able to offer our clients peace of mind during substantial realty transfers as well as support during an exciting time of their life is something we will continue to value.

How does it differ from a paper settlement?

Paper settlements are conducted manually, where all representatives of the respective parties attend personally. Financial transactions occur through exchanging cheques for the relevant land title documents which effect the transfer of the property. While settlement may occur on that day, the transfer of ownership and registration with the titles office occurs in the weeks following settlement.

e-Conveyancing on the other hand is conducted remotely through a secure online environment. All parties can communicate instantly together through the one online workspace. Transfer forms are electronically signed, with no requirement for original signatures, which reduces the inconveniences often caused by client’s living or working outside the region in which the property is located. All parties upload their relevant bank details which is checked and verified through the system, allowing for any discrepancies to be picked up before settlement. Transfer of the property into the new buyers name happens instantly at settlement.

PEXA App

If clients wish to be involved, they can securely input their own bank account details through PEXA key application and keep up-to-date with the settlement as it progresses. Settlement occurs immediately and confirmation of lodgement and registration is provided the same day.
e-Conveyancing also allows for multiple transactions at once and simultaneous settlements which is especially beneficial if you are selling or buying a property conditional upon another contract settling.

What problems does it solve?

1. Signing transfer documents, especially when parties are in different towns and the documents need to be posted around the country and Justice of the Peace located for each party.
2. Any loss, damage or delay of settlement documents in transit.
3. Cheques taking 3 days to clear into your bank account, with e-Conveyancing, the money clears immediately.
4. Errors on settlement cheques causing delays to settlements.
5. Settlement can occur earlier in the day, buyers can get their keys quicker!

We can work completely remotely and electronically so can do conveyance matters throughout Queensland. Our Conveyancing Officers manage all settlement needs and communicate with the other parties on your behalf, keeping you fully advised throughout the process.

Lets have a chat

Do you have any questions?

Let’s make a time to sit down and discuss your query, so the team at V.A.J Byrne & Co Lawyers can advise you on the best solution moving forward.

 

Street Address:

148 Auckland Street
Gladstone QLD 4680

Suite 2, 36 Barloin Street
Bundaberg QLD 4670

Postal Address:
PO Box 273
Gladstone QLD 4680

Phone: (07) 4972 1144
Fax: (07) 4972 3205

 

 

Email:
office@byrnelawyers.com.au

Hours of Business:
8:30am to 5:00pm
Monday to Friday
(excepting Public Holidays and Christmas Closure)

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VAJ Byrne & Co Lawyers Gladstone |Serving Gladstone since 1931

Serving the CQ Region since 1931

 

 

 

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