Use the following steps as a guide to completing a transfer with financial settlement in PEXA representing the vendor in Western Australia. A flow chart of the transfer process can also be downloaded at the bottom of this article.
If the Title is Encumbered, Monitor Mortgagee on Title’s Completion of Tasks
The Mortgagee on Title should:
Accept your invitation
Accept or Propose a new settlement date & time
Create Discharge document
Note: The financial institution who is the Mortgagee on Title was invited to the workspace in a previous step. If the title is a duplicate the MOT will need to enter Duplicate Holding Details into the Lodgement Instructions.
Confirm Document Details
Navigate to the Documents screen.
From the Actions column, selectView and then Transfer.
Note: Select View if no changes are required. Select Edit to update any of the details in a document.
View Lodgement Instructions
From the Actions column, select View and then Lodgement Instructions.
Confirm Order of Lodgement.
Confirm Responsible Subscriber.
Note: Editing lodgement instructions un-signs documents in the lodgement case. Select View if no changes are required.
Sign Lodgement Instructions
From the Actions column, select Sign and then Lodgement Details.
Receiving funds: Complete Destination Line Items
Navigate to the Financial Settlement screen.
Select the Destination tab.
Add Destination fund line items for the transaction (e.g. Vendor’s funds, conveyancing fees).
Sign Financial Settlement Schedule
From the Actions column, select Sign and then Sign Settlement Schedule.
Review your Workspace and monitor any changes to the Workspace right up to settlement via the Workspace Summary screen.
You also receive email notifications informing you of changes to the Workspace.
Note:The Workspace must be in Ready status for settlement to be successful.
All documents are signed and lodgement verification is successful.
Financial Settlement is correct and balanced.
Optional - Set up automated emails to real estate agents
You can set up automated emails to be sent to the real estate agent on successful settlement. This removes the manual step of sending the email, read the instructions here.