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?
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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?
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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.
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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
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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.
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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?
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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.
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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?
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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.
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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.
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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"?
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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.
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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.
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Thanks, @DMc, I clicked on the pop up on the top right hand of my browser and was able to open the file. Lucky to have you all to help with these.
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I agree, I cannot understand why banks have to wait 10 minutes before settlement before they sign and I could not even eat lunch properly as I have to nervously wait wondering if the matter will settle or not. Why do we have to send a conversation for them to act and do what they have to do and they do not even respond!?
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