Local Gympie law firm, Baldwins Lawyers, together with PEXA and two other local law firms recently hosted a PEXA, electronic settlements, event for real estate agents in Gympie.
Helen Eames from PEXA explained to the real estate agents how electronic conveyancing works and how the electronic platform can benefit them and their clients.
During the event Baldwins Lawyers displayed a live electronic settlement on a projected big screen which allowed the real estate agents to see the electronic settlement process occur in real time, from start to finish.
The whole settlement process took all but 20 minutes.
Baldwins Lawyers is one of only a few local law firms in Gympie that do PEXA settlements. The main benefits of electronic settlements are:-
- Greater certainty for clients as there are fewer manual processes and less risk for delays.
- Faster access to funds as there are no waiting periods for settlement cheques.
- Agents get their commissions as cleared funds on the day of settlement.
- There is no paper Transfer documents to signs.
- SettleMe is a free settlement app powered by PEXA exclusively available to PEXA lawyer and their clients. Conveyancing clients, sellers and buyers, are updated throughout the settlement process with customised checklists and real time updates.
- Settlements generally occur on time and registration of title documents occur almost instantly.