WA Industry SymposiumTotal Funds Required to Settle (TFRTS) -improvement
Perhaps this WA Industry symposium could be more open for attendees or viewable online (webinar style) to reach a bigger audience and achieve better transparency.
Thanks for some feedback from WA Industry symposium, which suggests that practitioners have two (2) focus areas requiring improvement by completing;
TFRTS 5 business days and
Duty Cert number 2 business days prior to settlement....
Am aware that the "Transfer Guidelines" are considered as 'Banks wishlist' - probably due to lack of transparency & practitioner input in their formation.
But still curious, why do the banks need 5 business days for the TFRTS?
Especially since they won't supply their payouts that soon, and us practitioners all need to wait for an agreeable Buyers Statement (and certain Settlement Date) before we can confirm the TFRTS.
We can possibly supply an indication that early, perhaps PEXA could add an indicative/confirmed button/flag next to it to indicate this better -Since the conversations are sporadically acknowledged.
It would be very helpful to have a reminder that the Incoming Lender is also to pay any applicable DM &/ NM rego fee- suggest additional 'add this' button or 'Already taken into consideration' will assist jogging user memory on that pain point too.