About KarenBarr

What could be more picturesque, sailing from Sydney to Melbourne aboard the Queen Mary II and being able to finalise your PEXA settlement?!? It sounds like a dream, but @SallyFollett from Casey Conveyancing it was a reality as she recently completed her PEXA settlement whilst sailing the seas.   This is another case in point, of how flexible you can be with your settlements when utilising PEXA! No better way to be Ready, Ready..   Ahoy Sally!       ... View more

Paper vs. PEXA Processes   Recently, I've been in the road assisting practitioners implementing PEXA and all that goes with it. One stand out across the board is the paper expectations for a electronic PEXA settlement, and the shift between the processes - they are different.....to a point! But the easiest way to navigate yourself through this, is to mirror your document creation and financial preparation processes. So think, when would you follow up the receipt of the Transfer of Land from the Purchaser? When would you complete your statement of adjustments and draft your statement of account? When would you submit cheque direction to the mortgagee? These should not differ, just because you are settling in PEXA. But when you settle in PEXA you must also adhere to the Transfer Guidelines.   It's obvious that the way in which you communicate with parties, complete the financial settlement and prepare your documents differ! So, how do you make sure that you will be ready for settlement? It's the 2-1-2! What you need to check, confirm, sign and amend can be done within these times.  2 WEEKS PRIOR TO SETTLEMENT 1 WEEK PRIOR TO SETTLEMENT 2 DAYS PRIOR TO SETTLEMENT   2 WEEKS prior to settlement, you would: In Paper: start settlement packet, arrange a settlement time & venue with the other conveyancer, book in settlement with your mortgagee (if applicable), finalise your SRO Settlement Statement (if possible). So, in PEXA:  - have all parties accepted invitations?  - have you sent conversations been sent in relation to preparation of documents ie. mortgages, transfers, discharges etc?  - have you sent a conversation to your incoming/outgoing mortgagee in requesting to loan funds & payouts? - have you completed your SRO duties forms? - have you prepared the transfer? - have you received the CT from your client?   1 WEEK prior to settlement, you would: In Paper: ensure all documents have been signed by your client/s, confirm Statement of Adjustments, update the council, water, OC fees etc to be drawn at settlement, prepare your Statement of Account/Settlement Statement to your client, confirm amount being received from the lender (Purchase, funds available), request indicative payout figure from mortgagee (Vendor), call the money into your trust account for settlement (if required), ensure there is sufficient money at settlement (surplus/shortfall from client), finalise your SRO Settlement Statement (if possible). So, in PEXA: - have you completed Transfer & Notice of Acquisition? - have you commenced your Settlement Statement? - have you updated Destinations with payments to be made at settlement ie. your costs, council, water, OC fees etc? - have you received the signed SRO Settlement Statement? - can you finalise stamp duty? - have you asked the mortgagee for an indicative payout figure? - have you asked for the loan amount being advanced and shortfall authority? - have you inciated the Source Account form, if applicable? - have you prepared the Nomination, if applicable? - have you entered the Source funds coming from your trust account?   2 DAYS prior to settlement, you would: In Paper: send off your settlement packet, send cheque directions to the purchase, send cheque directions to the mortgagee, confirm with your client the total funds at settlement, draw cheques from trust for settlement. So, in PEXA: - did you yesterday, instruct your client to deposit funds into the PEXA Source Account and update the amount?   (ALWAYS 3 BUSINESS DAYS CLEARANCE NEEDED ON ALL SOURCE ACCOUNT DEPOSITS - more information can be found here) - have you signed all the documents? - have you finalised all Destinations? - have you sent a conversation to your incoming mortgagee, confirming all funds required for settlement? - have you drafted a Destination for surplus funds back to your client? - have you updated and confirmed all Sources? - have you authorised Source Funds from your trust account?   By navigating through these above tasks, not only ensures that you will be on track for settlement, but reduces the amount of tasks you need to complete on settlement day. Obviously, you cant sign off on the FSS (Financial Settlement Summary) until the Sources & Destinations balance, which is generally the day of settlement - but if they do balance, nothing is stopping you! If everyone would be able to mirror these processes we would all be #bettertogether.   ... View more

Recently, I had the pleasure of graduating BRB Law from PEXA Direct – a regional law firm in the lovely town of Leongatha in Victoria’s South Gippsland. BRB Law, along with their predecessors have been servicing their local area for over 100 years!   Since early 2016, BRB Law have completed all types of transactions in PEXA from mortgages to caveats to transfers – they have all aspects of PEXA covered. But what particularly sets them apart is the work they complete on behalf of a major bank, whose main focus on Food and Agribusiness throughout Australia and abroad.   BRB Law has the PEXA process down to a fine art. Before they jumped in feet first, they initially took the time to ensure the end to end process of their conveyancing/mortgage matters was thought-out to be able to all successfully incorporate PEXA in all types of work they undertake.   Rebecca, Katie, Tameaka & Nicole - PEXperts of BRB Law BRB Law sets the perfect example of how to be able to implement PEXA no matter how many challenges can be faced, particularly when it comes to signing. With over 8 users and only 2 signers, BRB Law is proof that ‘you can do it’ – and do it they have as they have successfully completed over 45 transactions including, refinances, settlements, mortgages, discharges – the list goes on and on…   Working alongside the great group of people of BRB Law has been a great privilege and let me tell you this is only the beginning.     Congratulations to you all, looking forward to the next 12 months (and beyond) working alongside eachother!!!       ... View more

  On Monday I had the privilege of graduating @JimsFrankston from PEXA Direct. Since their first settlement in September 2016, Teresa and @SkyeBeardsmore have been laying the foundations of incorporating PEXA into their daily business processes, by vetting every file they receive to attempt to settle their conveyancing matters in PEXA.   Both Teresa and @SkyeBeardsmore took to PEXA like a duck to water, recently completing their 18th settlement and with another 4 workspaces in their dashboard, they are proving that PEXA is the future – no matter what the haters say!   @JimsFrankstonare proving how perfectly PEXA can be adapted into any workplace and in particular how you can work from home or remotely. Late last year they commenced the use of Global X’s Matter Centre, again aligning their processes to enable PEXA settlements now and in the future.   These lovely ladies have made their PEXA Direct Specialist very proud. Congratulations, my two new PEX-perts!   Jim’s Conveyancing, Frankston = legends! Nuttin but LOL’s     ... View more

On Tuesday I spent the day on the road with @NancyC - our team's new PEXA Virtual Specialist. We visited Foster and Leongatha, in the South Gippsland region of Victoria. We had a great day, but the particular highlight was graduating the firm of Oakleys White in Foster.    Oakleys White have been an early adopter of PEXA and recently completed their 12th Settlement and have completed over 45 Caveats, since undertaking the process of Electronic Conveyancing.   The inevitability of Electronic Conveyancing was enough to make regional practitioners like Clive White from Oakleys White realise, that PEXA would be something special particularly when you are situated around 175km's from Melbourne. The mountain of "Express Posting" that can be undertaken from this distance can cause quite a concern when it comes to delivering items to the CBD for a paper transaction, let alone having to complete everything days in advance of settlement.   Oakleys White have taken full advantage of settling in PEXA, and are particularly impressed when it comes to its flexibility on settlement day.   Like a proud mother, I congratulate the team at Oakleys White for their recent graduation of PEXA Direct. Now they are "certified", they welcome any invitations for settlements in PEXA. Well done team!!!   Angela, Fiona & Clive - some of the legends at Oakleys White   ... View more

This week has been a stellar week for @JoanneMay at Casey Conveyancing, who have completed 4 individual settlements in PEXA this week alone.   With the assistance of the Infotrack and PEXA integration, ALL matters (and I mean every new file) will continue to be opened in PEXA in the future. Proving how simple the electronic conveyancing process can be!   @JoanneMay is on her way to being a PEX-pert in no time, the next to be trained is the lovely Lily. Proof that no matter the hurdle PEXA can be adopted, in all walks of life!     Wags all round - Casey Conveyancing ... View more

Yesterday, I spent the day with Samantha Roberts, PEXA's integration specialist to provide an insight into the Practitioner's perspective on integration, needless to say we solved the worlds problems and had a lot of laughs.    Sam and I attended the office of @SilverthornConveyancing and sat with Rebecca Kaigg and created 5 new workspaces in her dashboard with the help of integration with Smokeball via Infotrack! Within around 5 minutes these workspaces were created seamlessly, with invites sent and client details updated.   @SilverthornConveyancing opened their doors earlier this year in Langwarrin and adopted PEXA immediately, to align with the industry's movement toward 100% digital with the recent Land Registry's mandate in 2018.   Rebecca said she is "over the hold music" when phoning a bank and "loves not having to be on the phone" when using PEXA, which saves her countless hours each week. With a total of 4 completed settlement, 13 current workspaces and a plethora of more to come, @SilverthornConveyancing are in pole position to be another PEX-pert on the Mornington Peninsula!   LIB - Ladies in Black (Silverthorn Conveyancing)     ... View more

Recently @KimHensle and @DebbiePatterson from McCarthy Partners, completed their 27th PEXA settlement and recently became a PEXA Graduate firm! Adopting PEXA only in September and incorporating PEXA into their business processes, they are the firm to look out for on the Mornington Peninsula and paving the way ahead of the Land Registry mandate in 2018. They are on a mission, a paper-free mission, a PEXA mission - look out! Paper, Paper & more Paper Karen & Kim     ... View more

Congratulations to @CamillaBurdon-Smith from BSA Legal in Balnarring who is now PEXA Certified, having completed 62 transactions and 10 workspaces currently in their dashboard, look out for BSA Legal! The Graduate - Camilla Safe to say we have one very happy graduate!   ... View more

Another great day on the road, today visiting the lovely Diane at @BassCoastConveyancing and working on her first simultaneous settlements in PEXA!    @BassCoastConveyancing is really leading the way when it comes to PEXA in her area, she is a sole practitioner working from her home in Glen Alvie (regional Victoria) and is a great PEXA advocate. Recently graduated from PEXA Direct she is now "PEXA Certified". Diane currently sitting pretty with 13 workspaces in her dashboard! Go Diane! Yes, that is 13 - count them!   I was pleasantly surprised when greeted by her lovely horse Mia as I walked out, great way to finish off a Friday here at PEXA Direct!     The lovely Mia   ... View more

A great aftertoon yesterday with @SHARONSAKER from Matrix Conveyancing! Already completing 3 settlements in PEXA, Sharon successfully opened 5 workspaces!   @SHARONSAKER you are on your way to become the Neo of PEXA or what we like to call a "PEXpert"! She ended the meeting with "I love PEXA it is just so secure!".   Needless to say, queue the happy selfie....   A happy Sharon, from Matrix Conveyancing     ... View more

Sitting with @JennyTowers this afternoon loading up workspaces in PEXA and discussing ConveyMe with @PeterP.   Sorted through many files, loaded up 7 matters and now have 10 workspaces in the pipeline!   Safe to say Jen is quite pleased!!! Persistance, Persistance, Persistance! Before 10 After 10     ... View more