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since ‎26-09-2018
‎30-11-2018
Mish888
Mish888
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About Mish888

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Latest Contributions by Mish888
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Source funds separation of loans funds and purchas...

by Mish888 in Ask the PEXA Community
‎15-11-2018 11:54 AM
‎15-11-2018 11:54 AM
There is a problem with the banks uploading source funds consisting of loan funds and purchaser equity (where there is authority for shortfall) as one line.  This really needs to be separated.  We had a bank under quote available funds by nearly $100,000.00.  They then apologised and updated the available loan funds.  Then the bank concerned added the purchaser equity uploaded the total funds required into one line.  We have no way of checking how much of the shortfall funds the bank has taken from the purchaser's nominated account and I cannot sign off on a matter without that confirmation.  This needs to be fixed up.  ... View more
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  • source funds
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  • Financial Settlement

Re: Act for Caveator and Vendor on settlement

by Mish888 in Ask the PEXA Community
‎27-09-2018 01:19 PM
2 Likes
‎27-09-2018 01:19 PM
2 Likes
Hi Nina, in workspace settings go into role settings and then add role.  Then add caveator.  You will be in the same workspace but you will see two lines on your dashboard, one of the vendor and one for the caveator.  I did one recently and it works fine.  When you do the figures it will be just like a linked settlement.  Payout to Caveator goes into the Caveator workspace etc. ... View more

Re: Time limits for banks

by Mish888 in Ask the PEXA Community
‎26-09-2018 05:54 PM
2 Likes
‎26-09-2018 05:54 PM
2 Likes
An example of the banks dictating unreasonable times are providing an indicative payout 2-3 days prior to settlement.  We often need this information a week before settlement in case we have to release the deposit monies into Pexa.  This information should generally be available upon request.  The process of releasing the deposit can take 2-3 days to achieve because the purchaser may first need to undertake their final inspection before any money is released.  There also maybe other reasons why we need that information eg. partial discharge with a simultaneous purchase settlement and we need that to calculate the shortfall on the purchase.  It can take a client a whole week to get shortfall funds to us.  I've got ANZ refusing to give me an indicative payout when the matter is settling early next week with a public holiday.    A word to the banks.  I promise you that if I am not provided the information when I need it, I will instead have the clients running around to their bankers and I'm guessing they won't be happy about your reluctance to provide the information I need.  We ultimately need certain information from the banks at certain times.  This information should simply be made available when requested end of story. ... View more
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