What is a PEXA settlement?

Did you know Culshaw Miller Lawyers can assist you with all your conveyancing needs and are members of PEXA?

What is PEXA?

PEXA is an acronym for Property Exchange Australia.

PEXA is a digital settlements platform allowing quicker access to the proceeds of a sale and near real-time tracking on property settlements.

The PEXA platform allows settlement to occur in a digital workspace. In order to complete financial settlements, PEXA electronically sends instructions to financial institutions involved within the transaction. So no more Cheques and running out required by clients.

What does this mean for me and my settlement?

If your settlement is eligible for PEXA, this will generally mean a more streamlined digital process to ensure that your settlement takes place as soon as possible, and for sellers, the sale proceeds will generally be cleared in your bank account on the day of settlement.

If you are buying, selling, transferring or developing property, don’t hesitate to contact the conveyancing team at Culshaw Miller Lawyers on (08) 9488 1300 or by email at info@culshawmiller.com.au to obtain a no obligation, free quote in relation to conveyancing fees.