Please note: although this message seeks to align PEXA statuses with the paper process, the two processes are not directly comparable and the below should be taken as a guide only.
PEXA tracks the overall status of Workspaces using the Lodgement and Settlement bars across the top of the Workspace. Below is a list of the possible status values in a Workspace:
Corresponding stages in paper
Corresponding status in paper
The period from Workspace creation including when documents are in preparation
Period from pre-exchange, through to contract exchange, cooling-off, satisfaction of conditions and preparation of instruments
The period from Workspace creation including when parties have commenced preparing the Financial Settlement Schedule
Period from pre-exchange through to parties calculating and exchanging settlement figures
Documents have been prepared and are ready to be signed. Stamp Duty verification and Lodgement verification are successful
Buyer has signed the transfer and has sent the Transfer to the seller’s/vendor’s representative. All revenue office documents have been completed.
The Financial Settlement Schedule has been signed by all required parties
All parties have agreed on the settlement statement. Cheques requested.
All documents have been digitally signed by the required parties and lodgement verification is successful
Vendor has signed the transfer and each side has their settlement packet ready for settlement. Includes attendance at settlement room.
All aspects of the financial settlement are ready (funds verified, authorised, schedule is balanced and all required items are signed)
Cheques are produced and ready for settlement
Document is in the process of lodging with the Land Registry/Titles Office
Following settlement, Agent/practitioner attending Land Registry/Titles Office
Source funds are being moved and PEXA is seeking reservation of funds for the transaction
Practitioner/agent attends settlement, cheques are being handed over.
The Land Registry/Titles Office has accepted the documents for lodgement
Dealings have been deposited at the Land Registry/Titles Office
Reserve Bank settlement has occurred – the property has settled.
Vendor’s representative / bank has received the cheques and the purchaser’s representative / purchaser’s bank has received the documents.
The Land Registry/Titles Office has completed their examination of the documents and assigned a status
Dealings have been examined by the Land Registry/Titles Office and assigned a status
Instructions are being sent to banks to disburse funds to their respective accounts
Practitioner/agent attends relevant financial institutions to deposit cheques
Financial institutions have confirmed they have the disbursement instructions and have actioned them.
Cheques have been received by destination financial institutions
The lodgement "complete" status is one that practitioners can find confusing. We normally equate “complete” with dealings being “registered” or clients being “on title”. However, the complete status means the Land Registry has completed their examination of dealings. In fact, the Complete status could mean a variety of things, depending on your jurisdiction.
“Registered, Rejected, Requisitioned, Unregistered, Unnecessary” are some of the available values in NSW. A full list of values available in each jurisdiction can be found below.
Practitioners should always check each dealing in the documents screen to ensure they have registered (where applicable). If in doubt, contact your Land Registry to discuss the details of your matter.
Please confirm your Land Registry Contact Details for your firm's PEXA subscription are up to date. This can be checked by your Subscriber Manager in the PEXA platform.