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Sequential Settlements

Sequential Settlements

Sequential Settlements

What can I do?

PEXA supports Sequential Financial Settlement, this is used when proceeds from one settlement are required as source funds for another settlement.

You can easily complete a Sequential Financial Settlement in PEXA by linking up to three Workspaces in a chain. Sequential Financial Settlement occurs when one Workspace is settling after another, where the second Workspace is dependent on the successful settlement of the first Workspace.

Visit Sequential Settlements in the e-Conveyancing Community for more details on how to lodge and settle electronically. View the online training materials and watch a short how-to video.

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Benefits

Benefits

What does this mean for me?

Using Sequential Financial Settlement, enables you to use the proceeds from a settled Workspace as the source funding for a linked Workspace immediately. Unlike in the paper world, PEXA deals with cleared funds, meaning that each settlement in the chain may be completed on the same day.

By transacting electronically you can affect the sale and purchase of multiple properties for your client on the same day. 

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