About CourtneyFitzgerald

CourtneyFitzgerald

CONGRATULATIONS!

CourtneyFitzgerald · ‎22-05-2019

What is up with Panel Solicitors not being able to provide indicative payout figures (only finals on the morning of)? Also having to go back to the lender (so not through PEXA) to find out details of funds available etc, so annoying. Surely if they are acting on behalf of a lender within the PEXA workspace they should be able to obtain such information.

CourtneyFitzgerald · ‎19-05-2019

Hi Team, To be honest, i have had really positive experiences with the WPC & STG bank group recently with speeding and helpful replies. I agree it would be useful to receive a payout figure before settlement date however understand that this may not be possible as banks need to calculate payout figures on the day of settlement. To work with this, we advise clients of the approximate sale proceeds and advise that their loan payout (once advised) will be taken out of this amount. We also ask them to confirm the amount they expect their loan payout to be, to ensure we do not need to tap into deposit funds etc to settle. Once the payout has been uploaded on the morning of settlement, we email the vendor to confirm the payout amount and proceeds (if any) they will be receiving. It obviously involves extra steps, but sometimes you just have to work with the bank and their processes. What is handy, is receiving at least an indicative payout figure so we can ensure that sale proceeds available on completion are sufficient to payout the mortgage.

CourtneyFitzgerald · ‎09-05-2019

congratulations!!!

CourtneyFitzgerald · ‎09-05-2019

you will need to order a replacement title deed

CourtneyFitzgerald · ‎09-05-2019

Hi @Avalon if there is only a Discharge of Mortgage and Transfer being registered the NSW LRS fee should be $283.20 (NSW transaction).

CourtneyFitzgerald · ‎26-02-2019

Hi @FionaS I understand your frustration. We find it very difficult to get any information regarding indicative's from banks and then payout figures are entered last minute which leads to a scramble to settle on the nominated time! These are the PEXA guidelines which all network participants are encouraged to operate within: INDICATIVE PAYOUT - ' Where possible the Mortgagee on Title to advise Proprietor on Title of indicative payout figure by sending them a conversation.' 'At least 2 business days before settlement.' SETTLEMENT PREPARATION - Mortgagee on Title updates the indicative payout figure in the Financial Settlement Schedule to represent a final payout figure if required and enters a destination line item in the Financial Settlement Schedule for Surplus if it is authorised to collect and signs Financial Settlement Schedule. No later than 10am day of settlement (in jurisdiction of the land where the property is situated). The guidelines are published on the Community here. Although I shouldn't have too, i find calling the bank settlements team to chase information, payout details and to get them to sign off makes it go faster. Very annoying that the banks have all the power and seem to answer to no one. A lot of time wasted chasing up banks that is for sure. - Courtney

CourtneyFitzgerald · ‎24-02-2019

Well done :)

CourtneyFitzgerald · ‎24-02-2019

Hi @FoulaMarkos here is the PEXA guidelines for replies to conversations within the workspace (however I do find more often then not that banks do not adhere to such guidelines). Hope this helps :) - Courtney Stage Guidelines Timing 4 - Conversations in PEXA A comprehensive understanding of and rigorous adherence to these Guidelines should reduce the need to communicate via the PEXA Conversation Tool such that it should only used to communicate information that is not already in the workspace or to escalate an issue. It is important that all participants: › Respond to conversations in a timely manner. › Send a conversation only if changes are made after either the Financial Settlement Schedule and or a document have been signed, detailing the changes. To minimise the number of messages each party receives: › Avoid conversations to all workspace participants, only send to your client’s lender or practitioner (or practitioner to practitioner) › the Incoming Proprietor to the Incoming Mortgagee and vice versa, › Proprietor on Title to Mortgagee on Title and vice versa. There is no need to respond to a conversation requesting completion of a task if the task is completed and visible in the Workspace. Within 8 business hours after receiving the notification. OR Within 4 business hours after receiving notification, if settlement is in 2 business days or less

CourtneyFitzgerald · ‎17-02-2019

100% the best idea yet!

CourtneyFitzgerald · ‎03-02-2019

Hi @EmilyBilling am I able to be sent the link also?

CourtneyFitzgerald · ‎31-01-2019

Hi Community. Has anyone ever had a PEXA workspace in a 'settlement held' status? What does this mean and how does this happen? - Courtney

CourtneyFitzgerald · ‎31-01-2019

Are there any shiny new features coming to the PEXA platform in 2019? - Courtney @ Edmonds

CourtneyFitzgerald · ‎31-01-2019

Hi Marcus, Will all banks & credit unions be ready for mandatory online transfer settlements by 1 July? - Courtney @ Edmonds

CourtneyFitzgerald · ‎31-01-2019

Hi @SoniaC PEXA fee for a single title lease is $42.24 and multiple title is $58.52 PEXA fee for a single title lease with settlement is $56.43 and multiple title $72.60 - Courtney

CourtneyFitzgerald · ‎30-01-2019

Hi @KS1 When you created the workspace, select that you act for the proprietor on title, the registered proprietor on title (the executors) name should have automatically been in the participants section, you just need to edit that party and select that you act for them and enter their birth date etc. You will then need to create another workspace (for the purchase) based on the workspace already created so that they have the same PEXA ID, let me know if you need assistance with creating this second workspace. - Courtney

CourtneyFitzgerald · ‎28-01-2019

Hi @Allens1 Any financial entries or document created will need to be deleted before you can withdraw :) - Courtney

CourtneyFitzgerald · ‎28-01-2019

WOO! Congratulations :)

CourtneyFitzgerald · ‎28-01-2019

Hi Jessica, Agreed with what Nick has said below, we just enter a value based on what information we have one hand (especially when a valuation if not required), council rates notice, estimate based on sales in the area of similar properties etc. It doesn't feel 'right' but PEXA advised this is all we can do, as something must be entered in. - Courtney

CourtneyFitzgerald · ‎06-09-2018

Hi Nakatos, Entering in funds required to settle 5 -days prior to settlement date is unrealistic and shouldn't be relied upon by banks as sometimes, the day before or day of settlement, funds required change. In these circumstances, the bank should be able to adapt. We were never required to advise banks of funds required to settle 5 days prior to completion when it was paper. If clients are returning documents to the lender late, more needs to be done by the lender to ensure the clients understand the timelines and repercussions for not adhering to such timelines. You have some incredibly valid points and our office will be working on ensuring we assist the banks in anyway that we can, however certain guidelines, requirements and time restrictions (such as noted above) are unrealistic and this is where we are encountering issues between conveyancers and banks.

CourtneyFitzgerald · ‎29-04-2018

Hi Nicole, Yes - many of the banks now have PEXA specific lines we can call. The issue for me is more why are we having to call the banks? They should be liaising through the workspace. We are finding less and less banks are liaising through the workspace conversations section as they are just relying on our offices calling this booking line. - Courtney @ Edmonds

CourtneyFitzgerald · ‎25-04-2018

Hi PEXA, We had a sale settlement due to occur on 23/4 however was delayed due to the purchaser’s bank not being ready. Settlement was rebooked by incoming bank for 11am 24/4. A conversation was placed on workspace for MSA to accept and sign off at 8.55am today. A further message sent at 10.59am. We then contacted MSA on their booking line and was put through to the PEXA discharge section and spoke to someone who advised that the next booking they could take was Thursday 26 April 2018!! They immediately put in a new settlement date and will have a payout on Wednesday afternoon or morning of settlement. I asked them why does it need to be delayed 48 hours and he advised that it was a service agreement with the loan provider. Reluctantly, I asked he book in the next settlement which is now 2pm Thursday 26 April 2018. I do not understand why MSA would be ready to complete on Monday but then needs a full 48 hours to prepare for settlement again within PEXA when the only thing that needed to be done was an updated payout figure. This is unacceptable and service agreements between lenders and settlement agents need to be amended to allow for the 'real time' communication and updates PEXA is meant to have. - Courtney @ Edmonds

CourtneyFitzgerald · ‎15-04-2018

Hi PEXA, Now that we are unable to contact PEXA for assistance with banks in a workspace, we need to be given direct contact numbers (preferably the contact numbers you had) for chasing banks. Calling the booking line is not working at all. - Courtney @ Edmonds

CourtneyFitzgerald · ‎15-04-2018

Absolutely! I cannot believe the time I have wasted this morning on one matter due to a certain bank not being contactable and PEXA not being able to assist. And we still haven't settled!!! If PEXA are no longer contacting the banks to chase them up, we should be given the same contact numbers PEXA had so we can contact the banks direct. - Courtney @ Edmonds

CourtneyFitzgerald · ‎15-04-2018

Hi PEXA, We have been advised by PEXA that if banks within a workspace are not replying or making the workspace ready for settlement that we have to call the booking line to chase them up. We have been doing so for the last week and not a single person on the booking line for NAB, WPC and many other banks know anything about PEXA support or how to liaise with their PEXA team. Surely there is a PEXA specific support line for banks we can contact. The emails available in the subscriber contact card for the banks are not helpful as the automatic response provides for a reply from anywhere between 24hrs to 7 days. If we are unable to contact PEXA or the banks to sort out urgent settlement issues and the banks do not respond within the workspace what do we do? We are having more and more settlements fall over and are wasting more and more time walking the bank through their job to the point where a PAPER settlement is now more time efficient and easier to arrange. I cannot rely on PEXA settlements occurring on time due the lack of communication with banks, even if all parties have accepted the time/date in the workspace and therefore have disappointed purchasers and vendors waiting at agents offices or with removalists out the front of properties. We will therefore be completing all matters via PAPER until this is resolved. There needs to be a more direct line of contact between conveyancers/solicitors and the banks PEXA specific help line. At least when I book in a paper settlement with the bank, I know it is ready to occur at that time. - Courtney @ Edmonds

CourtneyFitzgerald · ‎14-03-2018

Hi Team, At at the moment, if wanting to settle an off the plan purchase via PEXA however Revenue NSW stamping was completed on the parent Lot, we have to fill out a paper form to email directly to Revenue NSW so that they can update the system on their end and verify the stamping in PEXA. Is PEXA working on a more streamline way that this can be done within the workspace, without having to complete and lodge the form via email? We are finding completing multiple forms when large land developments register to be extremely time consuming. -Courtney @Edmonds

CourtneyFitzgerald · ‎06-03-2018

Thank you @Nicholsons1

CourtneyFitzgerald · ‎06-03-2018

Hi Members, Not workspace related! Quick question - how do I check/know if I am PEXA certified? I noticed I do not have that particular 'badge' however our office has received the PEXA certified trophy - is there something else I need to do myself to achieve this accolade? If a PEXA staff member could let me know that would be great. - Courtney @ Edmonds

CourtneyFitzgerald · ‎06-03-2018

love the idea of an automatic email to agent of the uploaded agent on completion :) i look forward to seeing how the order on agent feature progresses - Courtney @ Edmonds Conveyancing

CourtneyFitzgerald · ‎06-03-2018

living the conveyancing dream :)

About CourtneyFitzgerald

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