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16-01-2019
10:26 AM
I transferred Control of Title to CBA as they are taking security over a property. They declined it as they stated they didnt know who it was for. Where, if any, is the availability when sending control to advise the client details? Unable to even message once they declined.
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19-10-2018
01:45 PM
1 like
Its not good enough that the Banks and Solicitors for the Mortgagee, incoming or outgoing take their time in signing off. They are playing god. If it balances dont just sign or verify one thing, do it all together, especially when you have the glitch where PEXA goes down and it might be that time they go to sign off after leaving it too close to settlement to sign off when the cannot.!
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10-09-2018
12:25 PM
Again, why can't a conversation be placed in the workspace instead of not advising anything? This could have been avoided if communications were made and then I could contact the branch to find out what the issue is. This is a recent subdivision and all lots have been sold. The Bank, as what has happened with all the other settlements have received all funds. I am not a mind reader. If you had have conveyed to me in the PEXA workspace what you are advising now, we would be going back and fourth. This is not some little amount of money we are dealing with, but rather a multi-million dollar subdivision. REgards
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10-09-2018
11:14 AM
1 like
A courtesy response would go a mile. The Bank can read the conversations but cant respond. Another matter that didn't settle on Friday as the ANZ hasn't created the Discharge of Mortgage. Still not in there as at 11.11am on 10 September, 2018. Your PEXA team is advising the local branch that they haven't been invited and want to be reinvited. The invitation has been accepted by ANZ. Discharge Authority has been emailed to branch and releases twice and uploaded to PEXA..
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06-09-2018
03:01 PM
2 Likes
Considering the ANZ is one of the Bank's that you stay on hold for an enormous period of time just trying to get the call taken, maybe they should have a dedicated line considering they can't even respond to messages in a timely manner in PEXA. If you want an example I can give you a PEXA matter where the ANZ forgot to include one of the Titles in a PEXA matter and would not respond to conversations. I then had to wait 45 mins on the phone to get through and they went into the conversation, only to email me back asking me to create a new workspace for the title that was missed so they could register the Discharge of Mortgage over that title. It took nearly a month and a half after settlement to have the matter finalised.
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06-09-2018
11:25 AM
6 Likes
Is there any reason why the Banks cannot upload source funds when advised instead of leaving it until the day of settlement? Its ok for the Banks to do this as they may have many staff to attend to the matters, however its frustrating for coveyancers when they cant even organise to take a day off and have to make sure someone is there on the day to make sure it all balances. If the matter is organised well in advance, there is no reason this cant be done and would cause less conversations hounding them. Also when dealing with a sale and you advise the bank of the net amount they are to receive, why cant they include balance of destination funds when they put in the loan payout, rather than having to then tell them again what the different is. Surely if you tell the Bank they are getting $100k and the payout is $50k, then its clear the difference is $50K and can put that in the same time. If the payout changes then surely they can change the balance. It is ridiculous that a discharge authority needs to be emailed off to the bank then uploaded to PEXA. If it is uploaded to PEXA, that should be sufficient. Also lack of communications from the Banks in PEXA matters is frustrating. When the Bank's message asking for something its done immediately or at least a courtesy response is given and not some days or weeks later. Rant over.
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29-08-2018
03:58 PM
1 like
No, they still leave it until the morning of settlement. So what happens when PEXA is full steam ahead? Are there going to be enough staff in the Banks to handle all the matters due to settle that day? Its near impossible to organise a morning settlement with Banks.
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02-08-2018
03:48 PM
Does the Guarantee not extend to commercial properties?
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03-07-2018
09:54 AM
I understand but it should be like a paper settlement, the Purchaser's rep being responsible to enter the information in, thus alleviating any duplicate entries as I have found to happen a few times. Country Conveyancers have this down pat and there is never an issue and should be standard practice.
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02-07-2018
02:37 PM
The Purchaser's representative should include the destination funds for Council, water, owners corp, land tax etc as they are the ones that have the BPay/bank details and received the certificates from the relevant authorities.
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28-06-2018
05:19 PM
1 like
Are there any persons on here that represent any of the Banks, in particular the Commownealth Bank?
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27-06-2018
04:01 PM
1 like
It would also be good as a temporary measure that the subscriber inputs the token password like when signing off. It may be time consuming but at least you have an extra level of protection if someone does get in and change any details.
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19-06-2018
01:45 PM
2 Likes
As a Conveyancer for 30 years, when doing a paper settlement it was always the responsibility of the Purchaser's rep to pay any outstanding, Land Tax, Council, Water and Owners Corp rates. Why, in the PEXA environment does the Vendor's rep take this upon themselves to add these amounts? It should be left to the Purchaser to do, otherwise we keep getting duplicating entries.
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18-06-2018
07:43 AM
2 Likes
Its just not good enough. This is supposed to be a more effective solution to settlements and here we are basically monitoring the workspace constantly.
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18-06-2018
07:42 AM
Yes I always explain, however some clients are elderly and they dont have the insight to be able to make a complaint to the Banks.
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15-06-2018
04:53 PM
Why is it so hard for a Mortgagee no to communicate through the PEXA platform in a timely manner and why is it so hard for the Bank not to upload sources funds sooner rather than later. It is the conveyancer that has to do all the leg work as far as stamp duty etc goes, yet its always left to the last minute by the bank to upload source funds and only then to find out they dont have authority to provide all funds. Sometimes I think the paper transaction is far simpler, albeit not that much as far as banks are concerned. Rant over......
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01-06-2018
01:44 PM
Has anyone else had an issue where the funds to be received as part of the costs go missing and only turn up nearly a week later and be told that it was rejected by our Bank? A bit strange when the funds go into a Trust Account and that Account Number is part of the verification process from the outset of joining PEXA. The dropdown destination list asks which account you want the funds to go to. No other explanation given and to try and get onto the helpline to find out what went wrong, you have to wait too long.
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01-06-2018
01:39 PM
2 Likes
I agree, the Lender should ensure that from the outset they obtain client authorisation to draw any excess funds from the client's account rather than the Lawyer/Conveyancer finding out at the last minute and having to wait till the Bank get around to advising amount available.
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01-06-2018
01:25 PM
6 Likes
I agree. What ever happened to the hype, in being able to sign off and walk away. What happens if you cant sign off because of lack of internet service? At least if its done the day before, there is still a window of time to fix and not leave everything until the last half hour. If the Banks actually answers messages and kept parties up-to-date it probably wouldn't be so bad. The Bank's have a major interest in the PEXA platform so should be doing their best to get matters settled efficiently. If they are inundated with the volume of work, well welcome to the real world. The Bank should have more than one staff member to deal with the matter, unlike some smaller Conveyancing/ Legal Firm where you might be a sole person handling the matter. That person, basicall has to be available
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