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16-01-2019
11:56 AM
I'm unsure if this is a silly question, but we have had a client ask us to act for them in the sale of their NSW property (we are in VIC). Now, I'm wanting to know if this is actually possible as the only jurisdiction option available to us when creating a workspace is VIC. Also, what transactions are actually mandatory to be done through PEXA in NSW now? Is it the same as in VIC? This may have already been asked and answered elsewhere, but I appreciate any help and clarification I can get. Thank you in advance.
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27-06-2018
04:01 PM
7 Likes
I'm just curious to hear everyone's opinions on this. https://www.theage.com.au/business/companies/masterchef-finalist-conveyancer-hack-prompts-pexa-backlash-20180626-p4znv3.html I personally don't think PEXA should be so publicly crucified for something that could happen to any electronic transaction including banking in general, besides, I also think the conveyancer should take some of the blame because the hack was made through their server/system. It's not just on PEXA's head.
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30-04-2018
05:38 PM
1 like
@jgusew, oh right! Sorry about that, I wasn't sure if you thought the new requirement for all transactions had come in already is all :)
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30-04-2018
05:35 PM
2 Likes
@CourtneyFitzgerald, I couldn't agree more with this. Sadly, despite all the comments from banks assuring their processes and their ability to be contacted, I find that it is all a bit exaggerated. Most of the settlements we have had have involved NAB, and nearly every time there have been issues and been quite nightmarish. I understand that there was the period where everyone was still getting to know the new process, but I feel that that time has passed and banks should take more accountability for their lack of attention to these matters. We had a settlement a few weeks back where it wound up being pushed back an entire day as the NAB, despite accepting the PEXA workspace invitation, a multitude of workspace messages, emails to bankers and an unprecedented amount of phone calls just to try and get a hold of someone who could actually help in the PEXA area of NAB, they believed that the matter was to proceed via paper settlement. Might I add, this is all after NAB had already advised that settlement would need to be pushed back a few days before settlement (we were the Vendor's representative) as they required new valuations of the clients property (despite having known about the settlement date and having received the discharge authority months in advance). I honestly do not enjoy having to bring these things up, but I feel as though the more feedback received means more chances of the process improving and getting to a place where this is no longer required. Not to say that ALL transactions with NAB have been bad. For example, just today we had a transaction involving NAB that I personally didn't think would go through, and NAB pulled it together and was ready to settle an hour and a half before settlement
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30-04-2018
05:17 PM
1 like
@jgusew, sorry, I just want to let you know that in VIC only standalone transfers and survivorship applications are mandatory via PEXA/electronic currently. If any transaction involves a transfer with a mortgage, or any other combination of dealings, it is still able to be lodged and processed via paper transaction. However, I believe that is changing in October when all transactions will be mandatory via PEXA/electronic :)
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18-04-2018
02:13 PM
1 like
I don't know how different the steps are for each state, but I know for VIC it's a matter of the Purchaser's representative doing the following: 1. Retrieving and claiming a PEXA transaction through their duty online account to link it up to PEXA 2. When that's done verify it in the PEXA workspace duty section by selecting the drop down and clicking verify. I'm not sure if this is helpful, but I feel like it would be rather generalised over all states wouldn't it?
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13-04-2018
12:09 PM
1 like
I'm not too sure who would be best to speak to. I'm also not sure whether the reason some banks request it is because they aren't actually able to see the transfer documents that we create in PEXA. Maybe it'd be worth PEXA providing a 'view only' option on the transfer documents for the banks if there isn't one already.
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13-04-2018
11:44 AM
1 like
@AandTLegal, we've had the same thing happen before with one of our first PEXA settlements, we thought it was completely dumbfounding. Alas we did it to save argument and any issues arising later on, but I agree with you that it is silly to have to provide scans of physical copies when it is no longer a necessary requirement.
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29-03-2018
10:42 AM
3 Likes
@DMc, I have no advice or input, I just wanted to say this was a ride from start to finish I hope all those errors sorted themselves out for you!
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09-03-2018
03:12 PM
Hi Guys, I have a question in regards to Stamp Duty. So obviously the duties forms are completed online now and then linked to PEXA, that's fine, but what happens when the Vendor's representative who is in VIC has to send an invitation to the Purchaser's representative who is in NSW? Does this work? Are all the different States duties online connected? or does it have to be completed a different way? I have one like this at the moment and the Purchaser's representative is having difficulty accessing the form after accepting the invitation. I would really appreciate any advice from anyone who has been in a similar situation or from anyone who has knowledge in the area. Thanks in advance!
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08-03-2018
12:41 PM
4 Likes
Hi @AngelaToler, You would sign the FSS last, as signing it means you have checked/confirmed that all monies are correct and available. For example, if in the source funds section it states the 'available' funds at the top you should also check the tab to ensure the funds are actually ready. I had a settlement take place yesterday where the source funds was showing the amount, but when I clicked the tab it stated the the funds were not ready. So I had to wait for the other side to verify and authorise the funds. Once that was done I was able to confirm that all funds were correct, ready, and balancing, and therefore could sign the FSS as correct. I hope that makes sense!
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07-03-2018
05:25 PM
1 like
@EmilyBilling, as I understand it, @CourtneyFitzgerald had already completed the PEXA Certified modules and received the trophies that accompany them, but was just wanting to know when/how she may obtain the 'badge' which can be included in email signatures etc.
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07-03-2018
05:17 PM
1 like
@CourtneyFitzgerald, I had issues with all my PEXA Certified stuff. I was put in contact with Nick Koutsioulis, @nickkouts. He may be able to help you.
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07-03-2018
11:06 AM
2 Likes
@CassandraBird, In regards to your question below The second is that the Associated Subscriber is the Purchaser and not us as the Vendor. Why is this? I believe this is because any and all outstanding rates become the Purchaser's responsibility upon the acquisition of the property, as the Vendor's and Purchaser's portion are adjusted for. It is the Purchaser's (or the Purchaser's representatives) responsibility to ensure that these rates are paid. Thus the associated subscriber becomes the Purchaser. That's my understanding of how it works at least. Happy to be corrected if my thought process is flawed.
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06-03-2018
02:15 PM
Hi Guys, I know that PEXA has the NOA and hopefully is working towards a system in which it can be forwarded to the rating authorities upon successful settlement, but I was wondering why a NOD is not prepared through the PEXA workspace as these are required by Water, Owners Corporation and SRO? Is there a reason for this or is this something that might be brought in later down the line? Thanks in advance.
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01-03-2018
04:24 PM
1 like
Thanks for the response @TJ, I missed that bit in the mandate, I thought that would likely be the case. But Transfers lodged with Mortgages and Discharge of Mortgages can still be done via paper transaction at the moment?
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01-03-2018
03:32 PM
1 like
I understand that all standalone transfers are to be lodged electronically through PEXA now, however, if the other party was not yet signed up to PEXA, are you still able to lodge a paper Transfer? I'm sure that you must be, I just want to confirm that it would not be turned away at the counter. Thanks in advance.
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01-03-2018
11:46 AM
1 like
Hi guys, If you've created a workspace as representative for proprietor on title and have sent an invitation to the representative for the incoming proprietor and create/draft the Transfer document before they accept, once they accept will they be able to amend the documents and correct the Transferee in the NOA? Sorry if that doesn't make sense! I'm just curious because I needed to create the nomination of pCT to eCT and in order to do so had to create the Transfer doc first. Thank you in advance.
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19-02-2018
02:42 PM
Hi @EmilyBilling, Thank you, I appreciate your assistance with this in the meantime :)
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19-02-2018
11:58 AM
Hi @EmilyBilling, Thank you for your response. Apologies for the delay in mine now as I've been out sick. After reading your response earlier this morning I decided to re-submit the modules, however, it has been over an hour and I have yet to receive a notification email. As such I decided to check the modules myself. Module 1, despite having all the correct answers is telling me that " On this occasion, you have not achieved the 100% pass rate required to complete this learning checkpoint". Module 2 is also giving me the same response despite having all of the correct answers. Module 3 was assessed but no notification was received, and Module 4 is yet to be assess at all. I am unsure if there is an issue on my end perhaps?
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08-02-2018
05:12 PM
Hi, I'm new to the Community. I was just wondering if anyone has any idea how long the PEXA Certified sections typically take to be assessed? Also, do emails actually get sent out to notify you of your results? Thank you.
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