What is e-Conveyancing?
e-Conveyancing minimises the manual processes and paperwork associated with property settlement by enabling Low Cost Conveyancing and financial institutions to transact together online.
It enables the lodgment of large documents and the completion of financial settlements electronically.
When buying or selling real estate this process in Victoria is now revolutionizing the real estate and conveyancing industries.
e-Conveyancing also reduces the risk of errors and delays, giving our conveyancing clients greater certainty of successful, on-time settlement.
e-Conveyancing is an initiative championed by the property industry to simplify and digitise the complex process of property exchange. Instigated by the Council of Australian Governments (COAG), it’s built around an online network of members of which Low Cost Conveyancing supports.
To ensure the integrity of the network, the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) has developed a regulatory framework. Industry safeguards include the Participation Agreement, Verification of Identity and Digital Certificates.
e-Conveyancing is currently live, now in five states and is a collaboration between many industry participants, including financial institutions, Land Registries and the Reserve Bank of Australia (RBA).
Low Cost Conveyancing is committed to supporting the property industry as it transitions towards a 100% digital future.