HopgoodGanim Lawyers completes Queensland's first paperless off the plan real estate settlement
HopgoodGanim Lawyers has recently worked with e-conveyancing provider PEXA, in the completion of an ‘off the plan’ townhouse sale for the Lennium Group’s Wattle Grove Canon Hill project.
PEXA is the world’s first digital platform for completing online titles lodgement and property settlements.
HopgoodGanim are the first firm in Queensland to use the PEXA ‘off the plan’ development platform and had been eager to trial the platform as part of their ongoing efforts to find technology solutions that add real value to the work they perform for all clients.
Whilst this was the firm’s first real estate settlement using the PEXA ‘off the plan’ development digital platform they are confident it will be the first of many.
Justin McInally, led the first settlements and is looking forward to using the platform again as more law firms and clients understand the benefits that digital conveyancing offers.
Most Queensland home sales are currently completed using a 160-year-old, manual method that relies on exchanging bulky paper documents and cheques.
HopgoodGanim’s Chief Operating Officer, Martin Kingston, is looking to the Queensland Government to consider its own deadlines to hasten digital property settlements, allowing the settlement process to become more streamlined and transparent for all parties, which may also reduce some of the stress experienced by buyers during the property buying and selling experience. .
“Queensland needs to keep pace with the rest of the country. If we don’t, embrace more efficient ways to work, we will get left behind other states,” he said.
“Innovation is one of the draw cards for legal industry recruitment. It is also an important part of staff retention.”
“Online settlement is a breakthrough for property developers, banks and law firms who manage high volume property transactions.”
“Digital conveyancing improves productivity by removing time spent preparing and posting forms and automating titles’ office lodgements and banking.”