About Clara

Clara

I found out that you need to create a work space first before going to LRS for a production receipt. In this case, you need to do an "Information re-supply" via the action cog in the Land Titles tab, then check PR details are updated under the CT details.

Clara

Based on my experience, I was acting for the POT for a 3:00 pm settlement and the OM waited until 4:30pm to enter the vendor's funds, which I could have done if I was allowed to do since I knew the exact figures to balance. Countless conversations were unanswered until I totally gave up. The time spent on checking whether they have entered the figures ate up all my time for my other matters. Is there any other way to oblige these banks to adhere to the time limit? Or we, as practitioners, just have to accept and wait for their mercy?

Clara · ‎20-03-2019

Yes you can, I am doing one right now. It is called "Transfer by Direction" or "Directed Transfer". There is a good tutorial found in the Community.

Clara · ‎12-03-2019

Hi Fiona Thanks for your response, so the procedure is practically the same minus the form.

Clara · ‎11-03-2019

I understand from the previous comment that we should call OSR if we get an error during stamp duty verification. I do not have a current issue at the moment but I want to know what happens after you ring/email the OSR (for those who already did) if we don't need an Error Resolution Form. I have a few unregistered matters that have been previously stamped but will need to be verified soon.

Clara · ‎01-03-2019

ME TOO, PLEASE?

Clara · ‎30-01-2019

Hi Bianca I was reading your response stating that council, water, etc (third party beneficiaries) can be entered by either the vendor or purchaser representative. However, if I am acting for the purchaser I will not be able to enter a vendor's destination (council rate payable) as there is no "Add" option for me. So I will have to wait for the vendor representative to enter the destination line item and send a conversation in case I do not agree to their entry so they can amend. Is this correct?

Clara · ‎22-01-2019

Thanks Sharon for helping many conveyancers and legal practitioners, you are a great teacher!!

Clara · ‎12-12-2018

Thanks, Helen, that would reduce our task of completing and scanning the form with attachments.

Clara · ‎11-12-2018

Thanks, Emma, really appreciate it.

Clara · ‎11-12-2018

Can I please have an answer to my post, I need to know before the Christmas break, thanks.

Clara · ‎07-12-2018

We act for the vendor who has a CT issued in 1998 and therefore no CAC Number. If the purchaser does not wish to settle through PEXA, do we still need to obtain a E-Production Number from the LRS tp create the Cord Holder Consent or can we just hand the paper title to the purchaser on settlement?

Clara · ‎03-12-2018

Hi Karen Correct, but once you enter the OSR reference, verification will be unsuccessful and you will get an error, so you will need to complete an Error Resolution Form and email it to OSR so they can update the lot and plan number details. The OSR will email you once they have acted on your request. You can then verify stamp duty successfully.

Clara · ‎26-11-2018

Hello George, Just a clarification, do we still continue sending Error Resolution Form to the SRO in case Stamp Duty Verification is unsuccessful until this issue is resolved? Thaks Clara

Clara · ‎14-11-2018

Thank you, Ames. The situation is that I needed to remove the settlement date and time because vendor advised that the actual settlement will only happen once the vendor has provided an occupation certificate. I am unable to remove the settlement date and time unless I remove the Transfer. Once I removed the Transfer, the stamp duty verification was also cancelled as a result of the removal of the Transfer.

Clara · ‎13-11-2018

If settlement does not happen on the scheduled date and time and no new date and time has been created because of the delay on the part of the vendor, what happens to the already verified stamp duty and the documents that have already been prepared in the Workspace?

Clara · ‎09-11-2018

Thanks Marian, really appreciate it.

Clara · ‎08-11-2018

We share your sentiments, all the other major banks are a lot easier to deal with.

Clara · ‎08-11-2018

Can I have the link as well, please?

Clara · ‎26-10-2018

What happens if a mistake is made in completing the "Order of Lodgement"?

Clara · ‎24-10-2018

Thanks Graziela for pointing that out. Actually my client has provided an authority for the bank to deposit surplus into their account. I just sent a conversation to the bank to reduce the source funds to balance with the actual amount required on settlement. Waiting for their response/action.

Clara · ‎24-10-2018

I represent the Incoming Proprietor and I have entered details of the amount required on settlement. Incoming Mortgagee uploaded source funds in excess of what is required. Do I need to do anything or will the source funds automatically align with the total payments and adjustments close to settlement date?

Clara · ‎22-10-2018

I totally agree, I do not understand why banks and other practitioners wait until the last few minutes before they sign off even if they know that they can already sign off. You are right I feel that they are playing gods while we sit and stare thinking may be the person signing forgot, or may be is having an extended lunch, or misplaced the digital certificate, a lot of things going through my mind.

Clara · ‎22-10-2018

I had the same situation and one consent was enough to create it successfully.

Clara · ‎11-10-2018

If they are linked together, what happens during and after settlement?

Clara · ‎09-10-2018

When is the best time to do the EDR process if stamp duty will be paid on settlement day?

Clara · ‎21-09-2018

Thanks Marty, I just sent a conversation to the MoT, not sure if they work on weekends. Hope they do it before 12:00 on Monday which is the settlement day. I wish these banks do not need to be reminded of their task.

Clara · ‎21-09-2018

Yesterday, my remaining task is to "Complete Lodgement Instructions" which I followed. However, this morning, I saw that there is an outstanding task for me to "Complete Lodgement Instructions" again. I clicked "Complete Lodgement Instructions" again and after I saved it, it was unsuccessful. Do I need to wait for the incoming Mortgagee to do something before I can "Complete Lodgement Instructions"?

Clara · ‎20-09-2018

In relation to this question, what if I am not sure of the exact amount to be deposited into the PEXA source account but wants my client to make the deposit early to beat the 3 day fund availability deadline, can I ask my client to deposit in excess of my estimate. What happens to the excess after settlement, what is the procedure for the return of the excess funds.

Clara · ‎21-08-2018

Yes you can accept the invitation prior to your clients signing a CAF as long as you do not sign any PEXA document prior to receiving the signed CAF.

About Clara

Re: Production of Certificate of Title

Re: PAYOUT not entered less then hour before settl...

Re: Can we settle matter with head transfer on PEX...

Re: Error message when completing NSW Stamp duty v...

Re: Error message when completing NSW Stamp duty v...

Re: contact lists

Re: Council, water, strata levy - how are they sen...

Re: Western Sydney firms end the year with PEXA ce...

Re: off the plan purchases - stamping

Re: CAC

Re: CAC

CAC

Re: New Subdivision - Transfer

Re: off the plan purchases - stamping

Re: Effect of a cancelled settlement date

Effect of a cancelled settlement date

Re: Qualifier Tool

Re: Why are ANZ not monitoring PEXA workspace?

Re: Qualifier Tool

Order of Lodgement of Documents

Re: Source funds in excess of funds needed on sett...

Source funds in excess of funds needed on settleme...

Re: Signing off for settlement

Re: Consent NSW

Re: Can a workspace have a property in Victoria an...

Stamp duty payment on settlement

Re: When can we "Complete Lodgement Instructions"

When can we "Complete Lodgement Instructions"

Re: Pexa source account

Re: Accepting an invitation