PEXA stands for Property Exchange Australia. It is an online platform and electronic conveyancing system used in Australia. PEXA enables the electronic settlement of property transactions, such as buying and selling properties, transferring titles, and lodging documents related to property transactions.
Traditionally, property settlements in Australia involved a lot of manual paperwork and physical attendance at settlement meetings. PEXA has simplified this process by digitising the entire conveyancing process, allowing parties involved in a property transaction, including buyers, sellers, conveyancers, and financial institutions, to conduct settlements electronically.
Through the PEXA platform, participants can securely complete various tasks, such as verifying property ownership, exchanging contracts, transferring funds, and registering changes of property ownership with the relevant land registry. The system provides a centralised platform for all parties involved in a property transaction to collaborate and complete settlements efficiently and securely.
PEXA aims to streamline and modernise the property transfer process, reducing the time and paperwork involved in property settlements. It helps to minimise errors, delays, and risks associated with manual processes, enhancing transparency and efficiency in the property market.
Despite PEXA only becoming mandatory in February 2023, The Small Business Lawyer has used PEXA since we first began offering conveyancing services and as such, have the skills and experience required to carry out your property transaction electronically.
To obtain a no-obligation quote for conveyancing services, please use our handy quote tool here. As with most of our services, our conveyancing fees are fixed fee, inclusive of standard searches.