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since ‎31-01-2017
‎18-02-2019
sjdlaw
sjdlaw
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About sjdlaw

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Latest Contributions by sjdlaw
  • Topics sjdlaw has Participated In
  • Latest Contributions by sjdlaw

Re: ANZ BANK delaying settlement

by sjdlaw in Ask the PEXA Community
‎07-02-2019 09:50 AM
‎07-02-2019 09:50 AM
Can someone from ANZ or PEXA please explain how the following message received from ANZ on PEXA complies with guidelines or is reasonable in any way:   Incoming Proprietor please have SD Certified (VIC), update funds required for settlement from ANZ ONLY under Funds confirmation in Financial Settlement Schedule at least 2 hours before settlement time. Once ANZ finalise funding and sign FSS, if there is any adjustment with settlement figures, ANZ will not review the case until the next business day.     So ANZ wont review a file until the next day????? ... View more

Re: ANZ BANK delaying settlement

by sjdlaw in Ask the PEXA Community
‎24-01-2019 11:40 AM
1 like
‎24-01-2019 11:40 AM
1 like
Once again, i have ANZ delaying a settlement that they accepted for 11am, failed to sign off then message at 11:15 to say there is a shortfall...... shortfall has been rectified, but ANZ dont check messages and im on hold to ANZ again.   Why is this normal practice for ANZ??? Every other bank seems to have good systems in place for PEXA   In the real world, i have clients waiting to move into a property  ... View more
  • Tags:
  • ANZ after whole month extension pushing SD for more time WTF

Re: ANZ BANK delaying settlement

by sjdlaw in Ask the PEXA Community
‎19-12-2018 03:48 PM
2 Likes
‎19-12-2018 03:48 PM
2 Likes
Nakatos,    Are you serious? Banks not updating figures until moments before settlement and not notifying us of a shortfall, and banks signing in the morning and then not checking the file for the rest of the day is the norm!   PEXA makes settlements easier, there should be no reason why banks cant be more efficient than they were in the paper settlement process.....but they arent ... View more

Re: ANZ BANK delaying settlement

by sjdlaw in Ask the PEXA Community
‎19-12-2018 03:34 PM
1 like
‎19-12-2018 03:34 PM
1 like
Hi TJ,   I dont beleive PEXA is at fault with regard to bank delays, however i am over hearing about how banks have too many settlements on pexa and cant cope. They had the same amount of paper settlements!  ... View more

Reschedule settlement

by sjdlaw in Ask the PEXA Community
‎17-10-2018 03:15 PM
‎17-10-2018 03:15 PM
I had a 2pm settlement fail mid settlement, i then tried to reschedule at 2:20 for another time slot today only to find out i cannot rebook for today?? Why cant i rebook a 2pm settlement in for 3:30, 4 or 5 timeslot? This has cost us hundreds of dollars and stress to the client in having to delay settlement for a day ... View more
Category:
  • Financial Settlement

ANZ BANK delaying settlement

by sjdlaw in Ask the PEXA Community
‎05-10-2018 11:08 AM
6 Likes
‎05-10-2018 11:08 AM
6 Likes
We have just had ANZ bank again delay a setlement, this time messaging us at 10:55 (11am settlement) to say there is a $16.40 shortfall. They have then not adjusted their figure so i cant amend our figures by $16.40 to allow the settlement to go through.   Banks consistently delaying settlements with zero accountability to the customers is appalling, and is making PEXA a difficult process when it shouldnt!   What is being done to force banks to have figures accepted and uploaded well prior to settlement?   I read so many posts similar to this one, however no accountability or adequate responses from financial institutions.  ... View more
Category:
  • Banks and Financial Institutions

Re: CONTACTING BANKS

by sjdlaw in Ask the PEXA Community
‎10-09-2018 01:21 PM
1 like
‎10-09-2018 01:21 PM
1 like
Nakatos,   You seem to make a lot of excuses for the bank not being ready to settle and as always are always happy to handball the blame to the lawyer/conveyancer.   I have had several settlements in which ANZ do not respond or even view messages and then failed to accept settlement date. The whole idea of PEXA is to set a settlement date (which is a legally binding date in the contract (not when the bank decide they are ready) and then all work toward that date. The ANZ not checking messages in the lead up to settlement and then claiming they didnt "accept" the settlement date is not good enough.   I would have thought electronic conveyancing would have been the end of us spending half hour plus on hold to a bank to organise a settlement.......obviously not ... View more

Banks requesting Transfer of Land

by sjdlaw in Ask the PEXA Community
‎28-08-2018 03:15 PM
‎28-08-2018 03:15 PM
With a month to go until the pexa deadline for vic, why are banks still requesting a copy of the "Transfer of Land" prior to settlement, surely bank staff have been trained by now in electronice settlements?? I have had banks/brokers tell clients that settlement had been delayed due to their lawyer not providing the transfer of land!! ... View more
Category:
  • Banks and Financial Institutions

Re: Bank Delays

by sjdlaw in Ask the PEXA Community
‎08-08-2018 04:06 PM
1 like
‎08-08-2018 04:06 PM
1 like
We are also having problems where a bank will sign off in the morning, then not check the file for the rest of the day despite numerous messages. If something changes on the file and needs re-signing the bank is impossible to contact ... View more

Re: Bank requiring copy of documents

by sjdlaw in Ask the PEXA Community
‎03-07-2018 01:49 PM
‎03-07-2018 01:49 PM
Giving the settlements team a call does nothing, they are like robots that haven't been programmed to understand PEXA ... View more

Re: Bank requiring copy of documents

by sjdlaw in Ask the PEXA Community
‎03-07-2018 01:45 PM
‎03-07-2018 01:45 PM
It happening regularly, not just on one workspace. Banks are making PEXA time consuming and impossible.   PEXA has let banks take over the conveyancing process......Conveyancers/Lawyers should run the conveyancing process  ... View more

Re: Bank requiring copy of documents

by sjdlaw in Ask the PEXA Community
‎29-06-2018 12:14 PM
2 Likes
‎29-06-2018 12:14 PM
2 Likes
That doesn't help, why should i have to spend 30-45min on hold to the bank to tell them to do something they should already know??? ... View more

Re: Bank requiring copy of documents

by sjdlaw in Ask the PEXA Community
‎29-06-2018 11:23 AM
1 like
‎29-06-2018 11:23 AM
1 like
18 months later and still nothing has changed....i have cba refusing to confirm settlement is ready unless they receive a copy of the Transfer of Land!! I have told them on numerous occasions its a pexa settlement but they have no idea what im talking about.   Surely something is being done to educate banks ... View more

Re: PEXA setlement times

by sjdlaw in Ask the PEXA Community
‎06-06-2018 12:47 PM
‎06-06-2018 12:47 PM
Thank you for the reply, i have had some other settlements rollover to 5pm, why doesn't this occur on all settlements? ... View more

PEXA setlement times

by sjdlaw in Ask the PEXA Community
‎05-06-2018 02:46 PM
1 like
‎05-06-2018 02:46 PM
1 like
We are having issues with PEXA settle times not rolling over properly (i would call pexa support but dont feel like waiting on hold for 30 min).   1. We just had a 2:30 linked settlement delayed to 4pm even though it was in ready status prior to 2:30 (bank had signed off at 2:27) 2. Yesterday we had funds cleared at 4pm but pexa would not allow settlement to roll over to a later time in the day.   Are there issues with the program?   We have some very unhappy clients. ... View more
Category:
  • Financial Settlement

Banks educated in PEXA

by sjdlaw in Ask the PEXA Community
‎18-05-2018 02:39 PM
‎18-05-2018 02:39 PM
As PEXA settlements become the norm, I have noticed how many banks and their staff are completely uneducated or informed about the process. I am now being told by a bank that I need to call and book in a pexa settlement....that kind of defeats the purpose of PEXA! What is being done by banks to educate their staff?? ... View more
Category:
  • Banks and Financial Institutions

ASP Vic

by sjdlaw in Ask the PEXA Community
‎28-11-2017 12:09 PM
‎28-11-2017 12:09 PM
I recently decided to try the ASP function on PEXA, hoping to have the process streamlined (bank in control of ect as mortgagee), only to be told by the bank that I would have to submit a paper discharge authority (even though loan not being discharged) and it would take over 3 weeks to consent.   What is being done to ensure banks are assisting with the PEXA process rather than using it as a tool to set their own timelines etc? ... View more
Category:
  • Banks and Financial Institutions

Banks changing settlement dates

by sjdlaw in Ideas and Suggestions
‎25-08-2017 08:31 AM
5 Likes
‎25-08-2017 08:31 AM
5 Likes
I have used PEXA since Feb 2016 and have enjoyed being able to have a settlement date set out in PEXA with all sides working toward that date. Recently however, banks have began not accepting a settlement date right up until the settlement date and in some cases waiting until the morning of settlement then changing the settlement date by a week as it doesn't suit them.   This has occurred three times this week, in which the bank has had ample time to prepare for settlement and decided to change the settlement date without any prior notification.   As PEXA transactions increase, i am worried this practice is going to cause chaos for lawyers/conveyancers.   The settlement date is set in the Contract and is a legally binding date, and  should not be able to be changed by a bank as they are not a party to the Contract.   I suggest that banks should not have the ability to amend a settlement date on PEXA. If they are not ready to settle, they should be contacting the client's legal representative to discuss amending settlement date. ... View more
Category:
  • Banks and Financial Institutions

Bank requiring copy of documents

by sjdlaw in Ask the PEXA Community
‎31-01-2017 03:27 PM
1 like
‎31-01-2017 03:27 PM
1 like
I have recently had a bank demand copies of all SRO documents and a copy of the Transfer of Land prior to settlement.    Why are they requesting these documents when the matter is on PEXA? The stamp duty is certified/assessed by us, so they have no need to view the SRO docs and it seems unreasonable to have to email the bank a copy of the transfer of land printed off PEXA. ... View more
Category:
  • Banks and Financial Institutions

Re: Goods Statements - The SRO and the Emperor's N...

by sjdlaw in Share your Experiences
‎31-01-2017 02:52 PM
‎31-01-2017 02:52 PM
Hi Peter,   I completely agree with your thoughts on the goods statement and also think the SRO need to review and compact their documents rather than having form 62's etc. The whole concept of electronic conveyancing seems irrelevant if we have to print pages of SRO docs.   However i don't think it is a requirement to have the copy of docs kept in hard copy, the SRO will accept an electronic copy if audited. ... View more
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