Categories for Disbursements

E-Conveyancing is merely e-settlement

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E-conveyancing as touted by PEXA is coming to WA soon, but just to clarify some points of misconception around e-conveyancing in Perth WA; Nomenclature; the misnamed “e-conveyancing” does not encompass the entire process of transferring property into some other persons name. Merely the electronic equivalent of the final stage of the conveyancing process often referred to as “settlement” which includes booking, title check, attending settlement, lodging title forms, and funds distribution. Thus more apt term would be “e-settlement”. That process (at least in current manual process)...

Landgate updates fees

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In case you were wondering Landgate have increased their fees from 1/7/15. Fees_after_1_july_2015_100k_-_3.4m_email.pdfDownload Fi Regulated products and services From 1 July 2015, some of Landgate’s regulated products and services will be subject to new fees by no more than the Consumer Price Index (CPI) increase of 2.6 per cent*. New Registration and Search Fees Payable from 1 July 2015 have been approved by the Governor of Western Australia in Executive Council. The current 2014/15 Registration and Search fees are located on Landgate’s Forms...

Landgate (WA Land Title OFfice) force PEXA use; Electronic lodgement of stand-alone Mortgages and Discharges of Mortgages will be effective 1 August 2016

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On 4 April 2016 a letter was distributed to industry bodies and Customer Information Bulletin (CIB) recipients. This letter notified Landgate’s intention to introduce changes to the lodgement process for mortgages and discharges of mortgages that will affect mortgagees, their conveyancers, lawyers and lodging agents by 1 August 2016.Industry bodies and CIB subscribers were invited to provide feedback on the changes. The timeframe for receiving feedback has now ended. This CIB is to notify that Landgate will be progressing activities...

Long overdue CPI adjustment

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After nearly a decade Commerce has approved an small CPI adjustment on the Scale of Settlement Agents fees effective from 1st October 2013. Last CPI adjustment was in 2004 with only a base line increment in 2008. RE Agents and Brokers may find the new scale here… fees_after_1_october_2013_100k_-_3.4m_email.pdf Download File

Shoppers beware

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A caution to people in the real-estate market when shopping for a cheap settlement agent service. Cutting costs on an already reasonably priced service can be playing roulette with one of your biggest life transactions.  The expression “you get what you pay for” is very apt for the settlement service industry. Problems frequently arise when costs are slashed as staffing and service levels are compromised to make up for the lack of funds. Less experienced and unqualified staff can be...