PEXA has been in operation in South Australia from 4 July 2016. the article below discusses the benefits of embracing the challenge of the digital age of conveyancing

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ELECTRONIC CONVEYANCING – IS YOUR CONVEYANCER READY?

Electronic Conveyancing is the most radical change to the industry since the introduction of the Torrens Title back in 1858. Even back then there was an industry outcry from the lawyers of the day that by simplifying the system it would lead to a loss of conveyancing work. Well the very same challenges lie in front of SA Conveyancing practitioners today.

Many smaller or single operating conveyancers in Adelaide may not embrace electronic conveyancing or will struggle to find the time and resources to adapt to the new system due to outdated systems or an inability to adapt to change. This may mean that there will soon be a two-speed service in the conveyancing industry.

When booking your conveyancer make sure they have got everything in place so that the transition to the new system is a seamless one and the benefit will be to you, the client!

Our conveyancing practitioners have already undertaken the necessary training with both the Australian Institute of Conveyancers SA and PEXA for these upcoming changes, so we are ready to be on board. This is an exciting time for conveyancing in South Australia and we want to be part of it!

This new system will be better for everyone! Vendors will get funds cleared within 30 minutes of settlement, they currently wait up to three days for bank cheques to clear.

And purchasers will get registration on the title within minutes of settlement! Whereas at the moment there is up to a six week waiting period under our current system.

For more information, call 8333 3525 and speak to one of our conveyancers who are in the know!

 

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