Put simply, eConveyancing refers to the process of electronically processing conveyancing transactions. It is the secure online digital transaction that takes place when a property changes hands, and where a conveyancer or conveyancing solicitor lodges, settles and completes a conveyancing transaction.
ECONVEYANCING OVERVIEW
Things have changed significantly in the world of conveyancing. Where once the process of conveyancing required manual transactions, eConveyancing has come into the scene to provide a more efficient way to conduct your settlements and conveyancing.
With the advent of eConveyancing, it is now possible to do away with much of the paper processing, which makes the entire process much faster. In fact, with eConveyancing, you can digitally prepare, sign, settle and lodge a property transfer.
At McAndrew Law, we can provide eConveyancing that makes it simple for you to complete your property conveyancing electronically, making the process quicker and easier.
If you would like to know more about our conveyancing service, please contact us on (07) 3266 8555 to speak to our team, or get in touch online and we will call you back.
BENEFITS OF ECONVEYANCING
When you utilise eConveyancing, you will see the benefits of this technology immediately, especially if you have completed a traditional paper conveyance before. It won’t be long before eConveyancing replaces all traditional conveyancing in Australia – purely because of the sheer ease and efficiency of the process.
Some of the benefits of eConveyancing include:
• You receive confirmation of your lodgement and confirmation of registration immediately and are informed once your transaction is complete. Any issues with the transfer of title are immediately brought to your attention so that they can be rectified without delay.
• Your financial settlement is secured online, and it’s possible to pay duties and taxes at the same time.
• eConveyancing is an efficient and accurate way to complete settlement and lodgement of property title transfers.
• We expect to see a range of other features incorporated into the eConveyancing system in the future, with unlimited potential for simplified transactions across a range of other industries.
• Fewer visits to your lawyer or conveyancer’s office will be required; you simply have to authorise your lawyer or conveyancer to sign required transaction documents on your behalf and the process will be complete!
• Your interest in the property title is registered immediately on settlement, so there is no lodgment gap risk – a problem in the past for some transactions.
We also foresee that there will be a decrease in the overall costs associated with the conveyancing process once all vendors and conveyancing transactions are completed electronically. This is due to the sheer fact that less manual work is required to complete this transaction, and it’s likely that the savings will be passed on to you, the purchaser or seller.
Of course, if you are interested in completing an eConveyancing transaction, both parties must agree to this, so you will need to work with a solicitor who is registered on the PEXA (a conveyancing service provider) network.
At McAndrew Law, we are experienced in property settlements and conveyancing, and we can ensure that your interests are protected from start to finish. Call us on (07) 3266 8555 or get in touch with us online to get started.
