Karen von Einem and I on behalf of Stevens Partners are excited to have completed our first complex PEXA settlement over 5 financially linked workspaces, involving numerous participants with interests across all workspaces and lodgement of twenty documents.
It was exciting to have a platform that allowed us to deal direct with solicitors from several other states. What was particularly beneficial is, that by dealing with them direct, we were able to overcome the need for these parties to be separately represented in South Australia and therefore quite complex VOI procedures did not need to be repeated before the settlements could proceed.
Once we had achieved “Ready Ready” on all workspaces and the settlement time ticked over, the settlements were completed simultaneously and funds disbursed, all within about 20 minutes, whereas without the PEXA platform the settlements would have taken hours due to the number of parties involved and the LTO lodgement sequence required.
Jeff Stevens, our principal at Stevens Partners has been a great advocate and supporter of the PEXA platform and below is a link to his recent discussion with Daniel Roesler of PEXA.