15 Mar 2022

Property Exchange Australia: What Is PEXA?

Property Exchange Australia Workspace

Property Exchange Australia launched in 2010. It started as a way to help reduce paper in property settlement transactions. The service caught on and the company has grown. Its growth has led to more real estate professionals using the service. Thus, property transactions continue making their way online. 

One feature of the PEXA is its workspace.

When homeowners and home sellers buy and sell properties, they participate in property exchange transactions. Transactions involve several professionals such as lawyers, conveyancers, and financial institutions. They exchange a lot of information and paperwork. To facilitate the transaction, PEXA subscribed users can open a workspace per property. 

The professionals involved in the transaction upload the relevant documents and keep the transaction’s workflow going. Conversations can take place in the workspace regarding the transaction. If anyone has questions, they can post them. The goal is to make the transaction more efficient with less paper. It’s a place to request financial documentation and documents related to the history of the property. 

Mortgage House has brought a lot of technology and innovation to the lending market in a similar way as PEXA. Our customers can use our online resources and apply for a mortgage online. Our online tools help homebuyers see their mortgage choice options.

Property Exchange Australia Workspace Conclusion

The Property Exchange Australia service is subscriber-based. Once individuals involved in a property settlement transaction subscribe to the service, they can put together a workspace. Individuals interested in financing a home purchase can contact our Mortgage House loan specialists.

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