Buying and selling your home has been stuck in the past for too long. The old way is slow and clunky and can result in errors being made, which turns the exciting exercise of buying or selling your home into a stressful, sometimes overwhelming experience. Especially when all you want is to get into your new home, or out of the old one, quicker, cheaper and easier.
Well at long last there is a way, a better way, to do exactly that.
Believe it or not, the State and Federal Governments do sometimes understand your frustrations and have been working together with the Land Registry and the banks to develop a streamlined and transparent system for property transactions to be dealt with electronically.
The good news is that this system is now readily available to you in the form of a platform called Property Exchange Australia (PEXA) if you are represented by a Solicitor or Licensed Conveyancer (your representative).
PEXA allows you to buy and sell your home electronically, meaning you can get into or out of your home quicker and with less hassle.
Buying and selling your home electronically has many advantages including:
- More certainty that there will not be any lengthy delays because documents are verified prior to settlement.
- You are registered as the new owner within 30 minutes instead of the usual 6 weeks.
- When you are selling your home you receive your money electronically the same day as cleared funds instead of having to wait for a bank cheque to clear.
- You do not need to pay extra money for bank cheques.
- Less chance of things going wrong – automatically delays one hour if there are any issues.
- Settlement can take place as early as 9:30am to assist with moving if required.
Not too bad when you think about it. Quicker, cheaper, less stressful and easier than the old way.
But, you will need to authorise your legal representative to buy or sell your house via PEXA before you can reap the benefits of PEXA and you’ll need to verify your identity with your representative, just like you would with a bank.
If that sounds like the ticket for you then give us a buzz on 1300 449 500, talk with one of our conveyancing specialists, and we’ll get the ball rolling and have you either in, or out, of your home quick smart.