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Electronic Settlements: The Way of the Future

Conveyancing & Property
18 May 2023
Electronic Settlements: The Way of the Future

In the period from January to March 2022, Queensland recorded the most real property settlements in the country with a total of 51,458 properties being sold.

As Queensland continues to be a popular destination for homebuyers across the nation, settling transactions electronically has been pivotal in keeping the process smooth, efficient and streamlined.

Traditional paper settlements can be an arduous process with getting transfer forms signed by parties in different cities or states, organising cheques, booking settlements with banks and corresponding with parties to agree on suitable settlement locations.

The process is only getting more difficult, as Australia Post experiences higher volumes of demand and regional lodging locations close.

In Townsville, the Department of Resources where transfer documents are lodged is closing at the end of the year, and documents will have to be posted to Brisbane for processing. The result is that buyers may have to wait weeks or even months to find out if their name has been registered on the title of the property they are purchasing.

Electronic settlements are safe, secure, and remove the ‘hassle’ from your property settlements.

Mobbs & Marr is a PEXA certified law firm and can settle your transactions electronically. For any conveyancing enquiries please contact Georgina Paterson at our office on 4417 4417.