on 15-11-2018 01:53 PM
There is much talk in the industry regarding the fact that the payout figures provided by banks are too late. I wanted to share my experience today!
PEXA settlement due at 11:30am. The outgoing bank uploaded payout figures on 3 loans by 9.30am, I received further payout figures for other non secured facilities at 10.00am - entered into disbursement screen and funds to my trust adjusted accordingly. Easy Peasy - Ready, Ready by 10.05am!
I have phoned a few days ago for indicative payout figures, and was planned, organised and ready to go. Today I only had to make minor adjustments, which took me all of 10 minutes (at a push) - and settlement occurred perfectly. No stressed client, no stressed conveyancer, no stressed banks!
Great Work PEXA! Wish all my settlements were this easy - and this one was insanely complex in its disbursements!!!!
I really appreciate the investment in technology to make running my business, and settling transactions easy and efficient!
#pexa #loveit #easy #happyclient #happyconveyancer
on 15-11-2018 02:05 PM
Thanks for sharing your experience with the Community @SandyK. So glad you had such a great experience, love your positivity!! Look forward to working together on the next one!
on 15-11-2018 02:59 PM
Thanks for sharing such a positive story @SandyK. We love hearing about your PEXA experience. The very nature of a property transaction requires all parties to work together to deliver the best possible outcome for consumers. It is wonderful to see you leading the way in South Australia. I particularly love the hashtags you included!
on 15-11-2018 05:09 PM
Fantastic job @SandyK ! Great to see the saving of time and money for your business. To steal a quote from The Block... "Why wouldn't you" use PEXA!
on 15-11-2018 05:30 PM
Great to hear about your experience!
Must say that having to call a few days earlier to obtain indicative figures shouldn’t be necessary. Let’s hope that becomes a standard disclosure via PEXA soon as the process should remove the need to make those calls...
on 19-11-2018 06:52 PM
So much easier than lining up in the bank and getting bank cheques on the way to the Settlements room - hoping to get a park !
on 27-11-2018 03:36 PM
Great to hear you had such a very good experience with what appears to be a complicated settlement. Well done to you and your team.
However, we do wonder why the banks cannot load pay-out figures 24 to 48 hours prior to settlement. We have had many PEXA settlements which could have been "READY" "READY" a week prior to settlement.
How would you have coped receiving the pay-out figures that late for a paper settlement? So, what changed for the banks in regard to providing pay-out figures???
How do the banks expect us to cope if, the pay-out figures was greater than what was being received? We recently had a matter with NAB requesting the full purchase price...no prior warning, client bewildered, no consideration to agent's commission, release of deposit, adjustments, PEXA fees etc. No reason for wanting the full purchase price.
Just because others are complaining about banks entering pay-out figures the morning of settlement does not mean the other participants have not "planned" or "organised" or were not "ready to go".
We hope you have many more stress free settlements.