Traditional Conveyancing

System
All parties required to physically
meet. The transaction may be
delayed and not able to be
completed until all parties
present. Lengthy delays in
interstate and overseas
settlements.
Bank Cheques payable to
complete settlement process.
Lengthy delays if funds arent
cleared.
Physical lodgement of documents
required.
Written documents to be signed
by all parties. High rates of
fraudulent signatures.

E- Conveyancing

Solicitors must be contacted to

obtain progress reports.
Cost and time taken to obtain
Land Title searches.

Parties can track process of their transaction via the

PEXA workspace (reduced cost to client).
Improved accessibility of public Real Estate and Land
Title Registry records, resulting in lower costs and a
higher level of efficient practice.

Lengthy and costly errors are

more prevalent.
Forms can only be lodged at
agreed settlement date, with all
parties present.

Significant financial savings for all parties involved as

a result of more efficient processes.
Forms can be prepared and pre-lodged prior to
settlement. Settlement automatically proceeds at
agreed time, providing all procedures are correct.

Parties do not have to physically meet to complete

the settlement process. Interstate and overseas
transactions are more accessible and efficient as PEXA
is directly linked to Land Registries in most
jurisdictions in Australia.1
Financial settlements through secure fund transfers
processes from the Reserve Bank of Australia to
destination accounts. Funds can be pre-cleared ahead
of settlement date.
Online lodgement of documents, which can be loaded
and prepared ahead of settlement date.
Digital signatures with individual security keys that
only the subscriber and/or their agent has control of
and access to (reduced risk of fraud). Increased
verification of identity processes.

1 PEXA linked to all the land registries in all states except Australian
Capital Territory.