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 Affordable Plus Conveyancing on 02 9601 1392 or by email at info@affordableplusconveyancing.com to obtain a no obligation, free quote in relation to conveyancing fees.
AW-625560596