What is PEXA?

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 is now mandatory in states like Victoria, New South Wales and Western Australia.The benefits of using PEXA to complete the settlement though far outweighs the perceived added cost. In addition to the efficiency of instantaneous disbursement of funds electronically and the real time lodgement and registration of transfers, the fees associated with the registration of documents is also less than that of a paper lodgement. You can refer to the property and land titles website on fees and charges for further information: https://www.propertyandlandtitles.vic.gov.au/forms-guides-and-fees/fees