KEY TAKEAWAYS: PEXA Digitises Property Settlements. PEXA replaces the traditional paper-based settlement process with a secure online platform, enabling electronic transfer of funds, digital signing of documents, and real-time title registration. NSW Mandates E-Conveyancing. In New South Wales, PEXA is now the standard method for most property settlements. Buyers and sellers must use conveyancers or solicitors who are PEXA-registered to comply with legal requirements. Faster, Safer, and More Efficient Settlements. For buyers, ownership is confirmed quickly—often within hours. For sellers, sale proceeds are deposited the same day. PEXA reduces errors, delays, and the risks associated with manual handling. In today’s digital world, many traditional processes are being transformed through technology—and real estate is no exception. One of the most significant advancements in Australian property transactions is PEXA, short for Property Exchange Australia. Whether you’re buying your first home or selling an investment property in New South Wales (NSW), understanding how PEXA works can help you feel more confident during settlement. This blog gives a clear overview of PEXA and a simple guide tailored for NSW buyers and sellers. What is PEXA? PEXA (Property Exchange Australia) is an online settlement platform that allows property transactions—like buying, selling, and refinancing—to be completed electronically. It replaces the traditional paper-based process that involved manually signing documents, attending settlement in person, and waiting days for title transfers to be processed. Key Features: Digital document signing Electronic funds transfer Real-time title registration Secure communication between parties (lawyers, conveyancers, banks, etc.) PEXA is now the industry standard for conveyancing in most Australian states, including NSW, where e-conveyancing is mandatory for the majority of property transactions. Why PEXA Matters For You For buyers, PEXA ensures quicker title registration and ownership confirmation—often within hours of settlement. For sellers, funds can be transferred to your nominated account on the same day, removing delays previously caused by cheques or manual banking. PEXA also reduces the chance of errors, lost documents, or delays due to manual processes. PEXA Guide for NSW Buyers and Sellers Below is a simplified step-by-step guide on how PEXA works for both buyers and sellers in New South Wales: For Buyers Engage a Conveyancer or Solicitor: Hire a licensed professional who is registered to use PEXA. They will handle the legal paperwork and interact with the PEXA platform on your behalf. Mortgage and Identity Checks: If you’re getting a home loan, your lender will also be involved in the PEXA workspace. You’ll need to verify your identity and ensure your loan is formally approved and ready to fund. Review Settlement Figures: Your conveyancer will confirm the total amount payable at settlement, including stamp duty, adjustments for rates or water, and legal fees PEXA Workspace Preparation: Your conveyancer, the seller’s solicitor, and any involved banks will work together in a shared PEXA “workspace” to prepare documents and agree on the settlement date. Digital Signing: You may need to digitally sign certain documents, such as the mortgage or transfer forms, depending on your conveyancer’s process. Settlement Day: On settlement day, funds are automatically transferred to the seller and the title is updated with NSW Land Registry Services. You’ll officially become the owner and can receive the keys. For Sellers Appoint a Conveyancer or Solicitor: Choose someone familiar with PEXA to manage the sale and ensure everything is ready by the agreed settlement date. Complete Vendor Disclosure: Your conveyancer will prepare a Contract of Sale with all required disclosures and lodge it electronically. Mortgage Discharge (If Applicable): If you have a home loan, your bank must be notified to discharge the mortgage via PEXA. Your conveyancer coordinates this. Prepare for Settlement: The conveyancer will work with the buyer’s side in the PEXA workspace to finalise figures, confirm payments, and settle any council or utility adjustments. Settlement: On settlement day, funds will be disbursed electronically—usually into your nominated account on the same day—and the title is transferred out of your name. Common Questions Is PEXA safe? Yes. PEXA uses encrypted digital signatures, two-factor authentication, and strict security protocols. Your conveyancer will guide you through these. Do I need to use PEXA myself? No. Your solicitor or conveyancer uses PEXA on your behalf. You may need to complete identity verification or sign documents digitally. Is there an extra cost? Yes, but it’s usually a small fee (approximately $150–$200 per transaction). Final Thoughts PEXA has modernised the way property is bought and sold in NSW. It simplifies the settlement process, shortens wait times, and provides peace of mind for all parties involved. As a buyer or seller, your main responsibility is to choose an experienced conveyancer who uses PEXA, stay responsive with documents and ID checks, and let them guide you through to settlement. If you’re planning to buy or sell property in NSW, now you know what to expect in a PEXA-powered settlement. 📞 Get in touch with Coutts today to ensure your next move is informed, compliant, and future-ready. Schedule an Appointment Now ABOUT KAY VITOGIANNIS: Kay joined the Coutts team in May 2021 working as a Licensed Conveyancer within our Property & Conveyancing team, based in our Narellan office. Kay has over 20 years of experience in the Legal industry. She began her journey in CBD Conveyancing firms as a secretary and attained her Advanced Diploma in Conveyancing in December 2010. For further information please don’t hesitate to contact: Kay Vitogiannis Licensed Conveyancer info@couttslegal.com.au 1300 268 887 Contact Coutts today. This blog is merely general and non specific information on the subject matter and is not and should not be considered or relied on as legal advice. Coutts is not responsible for any cost, expense, loss or liability whatsoever in relation to this blog, including all or any reliance on this blog or use or application of this blog by you. Contact Us