PEXA is Australia’s digital lodgement and settlement service. Via PEXA’s online platform, documents can be lodged with Land Registries, and depending on the financial institution, sellers can have access to cleared funds within minutes of the transaction.
As at January 2020, PEXA members — more than 8,000 lawyers and conveyancers and 150+ financial institutions — had completed in excess of four million transactions online, worth $680+ billion in property value. Uptake continues to increase across the nation, as PEXA helps digitally transform Australia’s property industry.
PEXA has more than six years’ experience working collaboratively with the conveyancing market, listening to feedback, adapting the platform to industry needs and developing a streamlined property exchange process.
A specialised offering, “PEXA Projects” is available to lawyers and conveyancers acting for developers. This functionality allows members to manage large-scale projects (i.e. multi-lot developments) seamlessly, with the ability to complete bulk actions across multiple lots, representing a phenomenal improvement on traditional paper-based processes.
Currently, there are five active digital conveyancing states — NSW, VIC, WA, SA and QLD. In fact, NSW, VIC and WA have transitioned all property transactions possible on PEXA online as per their government reform compliance dates.