Jen Nelson – 11/04/2024

My name is Jen Nelson and I am the owner and founder of Nelson Property Transfer Services. We are one of the many agents that you can utilise through InfoTrack’s SettleIT platform.

SettleIT is a fixed-fee electronic settlement and lodgment service, which allows lawyers and conveyancers to outsource the administrative aspects of conveyancing. In a sale or purchase matter, once a Contract is signed and unconditional, that is when SettleIT comes in. We do it all from thereon, allowing you to focus on Contract advice and spending more time with your clients to grow your business.

As well as being able to assist you in your sale/purchase files on the SettleIT platform, we can also assist you lodging your Plan of Subdivision/Consolidation, Creation and/or Removal of Easements and generally any survey transactions you may have.

In this article, I will discuss the benefits of lodging the above documents via SPEAR as opposed to lodging as a residual document through PEXA:

Lodging through PEXA

• When lodging through PEXA, you will need to lodge as a residual document which will then sit in a queue. Depending on how long the queue is, will depend on how long before SERV picks up your file.
• Once your file is picked up, if there is even one error (which could be as simple as a human typo), your file will be withdrawn for you to amend.
• You will then need to amend and relodge which will place your document at the back of the queue. There is no way to expedite the file.
• Unfortunately, the examiners may miss something else on the second time lodging, whether it be a simple error or something that requires more attention to attend to. Therefore, your file will again be withdrawn, you will need to remedy the error and relodge which will place your document at the back of the queue.
• This process can be extremely time consuming and frustrating.

Lodging through SPEAR

• If you lodge through SPEAR, there will be an initial check first to make sure the title is nominated and any errors are fixed up before you can lodge. You will normally be advised of this within 24 hours of your prelodgement check.
• Once lodged, if there are any requisitions –whether it be from you as the lodging agent, the surveyor, council etc – all parties involved in the transaction are notified and in some cases, you can attend to the requisition and relodge within minutes.
• Your file does not go to the back of the queue and will be attended to in a timely manner.
• SPEAR also has a guideline of timeframes which is updated daily so you will always know approximately how long before your file will register – depending on the nature of the the transaction.
• You can follow the activity by looking at the workspace in SPEAR so you will always know where the file is at and all parties are aware of who needs to action the file to continue.

There are a number of firms out there who don’t do many survey transactions and therefore the cost of joining SPEAR is not feasible; that is where we can assist you as an agent. We will take care of the transaction for you and keep you updated every step of the way.

The SettleIT platform is user-friendly, and as settlement and lodgment agent, we do not talk to your client at all – we only speak to the Conveyancer or Solicitor.

Nelson Property Transfer Services are just one of the many agents engaged by SettleIT, giving you the flexibility to select your preferred agent.

At a fixed fee of $330, including GST, all costs are billed through your monthly InfoTrack account.

If you would like any more information, please do not hesitate to contact Maxine from SettleIT at maxine.chilcott@infotrack.com.au to get you set up with an account and/or discuss how to put in an order or myself at jen@npts.com.au for any more information on the lodging process.

Author: Jen Nelson, Owner and Founder of Nelson Property Transfer Services and SettleIT conveyancing partner.