What is Pexa?

Property Exchange Australia (Pexa) and is an e-conveyancing platform used by lawyers, conveyancers and banks to conduct property transactions such as the sale and purchase of properties. 

E-conveyancing is designed to minimise the manual processes and paperwork associated with the sale and purchase of properties.  The platform enables lawyers, conveyancers and banks to transact together online with real time lodgment at Land Victoria.  It is designed to improve efficiency and transparency for the transacting parties.  All documents are digitally “signed” by your conveyancer. 

When a settlement takes place on Pexa, the transfer of land is lodged in real time, payment of council and water rates or owner’s corporation fees are paid, stamp duty is paid directly to the State Revenue Office and mortgages are discharged and paid or registered as the case may be.  There is no longer the need to obtain bank cheques or physically attend at a settlement and any funds payable to you are cleared at the time settlement is complete, no more waiting on bank cheques to clear.