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Property Exchange Australia (PEXA) is an electronic lodgement and network operator that operates an electronic settlement platform. You pay them a small fee for the service of hosting the settlement on their platform. Due to recent cascading law changes in a several states, settlements being complete on PEXA are now mandatory in states like Victoria, New South Wales and Western Australia.
PEXA offers the efficiency of instantaneous disbursement of funds electronically and real time lodgement of transfer documents to be protect the interests of both parties.
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