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Wednesday
3 Likes
Hi @Weston3130 , When I have done this before the solicitor acting on the sale invited the solicitor acting on the purchase to the sale workspace to deal with an interest. The solicitor acting on the purchase would then create a destination for the required funds and link the two workspaces. I hope this makes sense and assists. Emma
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11-02-2019
03:34 PM
2 Likes
I've never seen it in writing or on a discharge authority however I have been advised of the same requirement (90 days) by at least 3 different banks.
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10-01-2019
04:15 PM
2 Likes
Have you created the Transfer in PEXA? The stamp duty section will not show until the Transfer is created.
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11-12-2018
12:35 PM
1 like
Hi @Clara, I just hand over the paper CT for a paper settlement, a production receipt is only required for electronic settlements. Emma
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19-11-2018
04:20 PM
4 Likes
Hi @sarahp I'm happy to be corrected as I haven't come across this situation before. However I believe that the lodgement order is as per the lodgement instructions so the documents on your lodgement instructions to be something like this: 1. Discharge of Mortgage 2. Transfer 3. First mortgagee's mortgage 4. Second mortgagee's mortgage
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10-10-2018
12:13 PM
3 Likes
Hi @Limeconveyancing I had your exact problem a few weeks ago and after discussing it with the help desk we found that if you enter a street number of "0" the address would validate. Hope that helps. Emma
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03-09-2018
03:29 PM
Hi It's not mandatory to lodge the transmission application electronically. Without having lodged a TA via PEXA; yes, I believe you should be able to lodge the Transmission Application via PEXA if you have the paper CT however if the CT does not have a CAC on it you may need to produce it at LRS and get an E-Transaction Production Number. Emma
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23-08-2018
10:55 AM
The total amount required, including stamp duty and fees, required to settle the purchase should be entered as the link value. Emma
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22-08-2018
02:48 PM
My understanding is that land tax can't currently be paid on settlement via PEXA. Transfers where land tax is required to be paid from settlement proceeds are an exception to the electronic lodgement requirements under waiver CR 3/2018.
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16-08-2018
03:16 PM
2 Likes
LRS has posted the paper CT to our office after registration when we have acted for cash purchasers on PEXA.
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15-08-2018
10:10 AM
Thanks @Ames. Is multiple trailing workspaces something PEXA is working on? It's not very common for us but it is definitely something we will need before the final mandate in NSW.
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10-08-2018
11:42 AM
Hi I have 3 settlements taking place simultaneously, 1 sale which is funding 2 purchases. I have linked 1 of the purchases to the sale however when I tried to link the other purchase I get this message: " A preceding destination link request already exists in this workspace. Only one preceding link request may exist per financial settlement." Is there anyway to settle these 3 matters on PEXA? Thanks, Emma
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02-08-2018
05:17 PM
1 like
@BGoodwin Interesting, the destinations tab must be laid out differently depending on whether your acting for a mortgage or a vendor/purchaser. My destinations tab acting for a vendor/purchaser has vendor destinations and purchaser destinations. I believe all destinations entered by the outgoing mortgagee are automatically entered as a vendor destination, which I agree with. But destinations entered by the incoming mortgagee are also added as a vendor destinations, I believe they should be added as a purchaser destination. I often check that the total vendor destinations equals the amount the vendor is supposed to receive on settlement and having amounts in there that aren't really vendor destinations means I have to pull the calculator out to confirm, which is unnecessary additional work. My other issue is that because the incoming mortgagee entered a vendor destination after I had already signed off on the financial statement, the financial statement was unsigned and I had to move the destination to the purchaser and re-sign the statement, which is obviously frustrating. Emma
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01-08-2018
10:42 AM
1 like
Hi, I have just had an incoming mortgagee add a line item to Vendor's Destinations. I assume it is excess loan funds the incoming mortgagee needs to pay to the purchaser which isn't a problem. However in my view the payment should be entered in as a Purchaser Destination and the incoming mortgagee should not be allowed to add line items to the vendor's destinations. Just after other people's thoughts, I think it needs to be changed. Thanks, Emma *just an update, I have moved the destination line item to the purchaser's destinations however I think that any destinations entered by the incoming mortgagee should be automatically entered as a purchaser destination.
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31-07-2018
04:26 PM
1 like
You can still register the paper documents at the LTO as it is not a standalone Transfer, you only have to settle and lodge via PEXA if there are no mortgagees involved (cash purchase of unencumbered property).
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27-07-2018
03:50 PM
Thanks @EmilyBilling but that's the number I have already called and they advised that they couldn't assist and would get someone to call me yesterday and still no response.
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27-07-2018
03:35 PM
Does anyone have contact details for CBA's PEXA team? I have a simultaneous sale & purchase settlement on Wednesday next week and CBA is doing a substitution. Yesterday CBA withdrew from the sale workspace advising that the settlement was to be completed under the purchase workspace. I don't understand how they expect to be able to do both the discharge of one property and mortgage of another property in the same workspace, especially since their own guidelines state that if " CBA is acting as ‘Mortgagee on Title’ and ‘Incoming Mortgagee’, please ensure two separate invitations are sent" . Before CBA withdrew from the sale workspace I had sent them 3 conversations over a week, none of which they responded to. Now I have been sending conversations to them on the remaining workspace (which they have read but not replied to), as well as calling their settlements team, who advised that they couldn't assist and would have another team member call me, a day later and I still haven't received a call. I'm incredibly frustrated and any ideas would be greatly appreciated!!
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25-10-2017
03:37 PM
Hi I have 2 purchases that will settle simultaneously and stamp duty is aggregated. Does the OSR provide 2 transaction numbers to enter in PEXA, one with the main stamp duty and one with nominal duty? Thanks, Emma
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- Tags:
- NSW
- Stamp duty
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