Buying and selling property is something most people will have experience with during their life. The legal process relating to buying and selling process is called conveyancing and thanks to legislative updates in 2010, a part of the process can now completed online.
What is e-conveyancing?
Since 2010, Queensland solicitors have been able to complete the property settlement process electronically on behalf of their client. Property transactions are completed online, through a secure platform known as PEXA (Property Exchange Australia).
There are a whole host of reasons why many property transactions are now being completed online. Settling electronically helps streamline the conveyancing process by:-
- reducing the chance of delays,
- eliminating the need for buyers and sellers to attend their lawyer’s office to sign certain documents,
- eliminating the need for purchasers to obtain bank cheques for settlement,
- processing settlement funds to a vendor’s nominated account as cleared funds, so they don’t have to wait for a bank cheque to clear,
- eliminating the need to attend settlement in person, and
- allowing almost immediate registration of documents.
Can I do everything online?
If you are using e-conveyancing in your property transaction, your solicitor will still have an obligation to verify your identity and collect a signed client authorisation from you, allowing them to digitally sign documents on your behalf.
This can usually be done in one appointment and the rest of the process can be done over the phone, via email or in person, based on your preference.
Do you offer e-conveyancing?
At Walker Pender Group, we use e-conveyancing for the settlement of residential and commercial transactions.
Our experienced conveyancing team will also help with the necessary searches, make adjustments as needed to contracts and provide peace of mind. Buying or selling a property? Get in touch.
*The legal information in this article is of a general nature only and not intended to be legal advice to rely upon.