PEXA Settlement query

[TRAMJ005]

We are acting for Client A who is selling their property (Two Titles) and settlement is through PEXA on June 7, 2018. This property has an existing caveat on two titles which must be removed prior to settlement.

Client A has purchased another property and settlement date is also June 7, 2018 but NOT through PEXA.

Is it possible to have both transactions occurring on the same day?

Thanks.

[TJ · Accepted solution]

Hey @TRAMJ005,

It is possible, just set the date for both as the 7th. However, if the Client needs funds from the sale to make the purchase then I would be very wary as there is no way to link the paper and PEXA settlements. If the PEXA settlement is delayed it may impact the Paper one.

If they were both PEXA settlements, of course you could settle them as linked, which ensures they only settle if both workspaces are in Ready Ready status.

That's obviously the best scenario and if you want a higher degree of certainty and need to settle on the same day it may be worth looking at that purchase settlement to see if it can move to PEXA. You can find more info on linked settlements here.