on 30-01-2019 03:05 PM
We act for clients who have purchased two units - each unit was purchased under a separate Contract for Sale (and therefore separate stamping, Transfer etc).
Both sales (Titles) have the same Vendor and the transferee, but with different considerations.
I have created a Pexa workspace and added both Titles (two), and have also prepared two Transfers which I note I can enter the stamping separately.
When it comes to the financial settlement statement however, it is only indicating the consideration of one of the Transfers, not the other (and also not combined).
How can I update the FSS for a combined value of the two considerations, for the Vendor Destination lines to then be completed?
Any help is appreciated.
@GeorgePolus - are you able to assist?
on 30-01-2019 04:55 PM
I am afraid that the Adjustments Calculator in the FSS does not accommodate workspaces having multiple transfers. As you point out, the 'Statement of Settlement' captures consideration from the first transfer in the workspace and PEXA does not have, at the moment, an option for you to add consideration for additional Trasnfers in the workspace.
Unfortunately, this is a gap in the PEXA FSS Adjustments product at present.
That said, while not ideal, this issue will not prevent you from completing the two transfers in a single workspace.
May I suggest that you communicate to transaction stakeholders using the FSS Adjustments panel that the 'Statement of Settlement' in the FSS Adjustments screen should be ignored for this worksapce. NOTE: Check with transaction stakeholders first as use of the FSS Adjustments Calculator is a configuration option and may not be used by all stakeholders in the workspace.
Once impacted stakeholders have been advised, enter adjustment line items for both transfers in the Payment Directions (Purchaser) panel. For transparency, you will need to communicate the Statement of Adjustments to affected workspace stakeholders - perhaps by upload into the 'Files' panel from the Left Hand Menu.
I recognise that the FSS Adjustments Calculator does not support the (reasonably common) scenario you have presented. We are working on FSS enhancements in 2019. I will do all I can to prioritise work to address this gap.
Thank you for raising the matter directly with me. Your feedback is greatly appreciated. I look forward to being able to advise you later in the year that we have made updates to improve your PEXA experience in this regard.
on 20-05-2021 06:50 PM
Has there been any progress on addressing this gap so that the Settlement Schedule can draw the information for the two transfers?