What is PEXA? (and why it's used for settlement in WA)

If you're buying or selling property in Perth, you've probably heard your conveyancer mention PEXA. It might appear on your settlement statement, your invoice, or in updates about your settlement progress. For many buyers and sellers, though, the question remains: "What actually is PEXA?" And perhaps more importantly, given you’re paying for the privilege: “Do I have to use it?" Whether you're buying your first home in Joondalup, selling an investment property in Hillarys, or downsizing locally in Mullaloo, understanding how PEXA works can help make the settlement process feel a lot less mysterious.

What is PEXA?

PEXA is the online platform used to complete most property settlements in Western Australia. Rather than exchanging paper documents and bank cheques, conveyancers, banks, and Landgate work together electronically to transfer ownership of property and move funds between parties. Today, virtually all standard residential settlements in WA take place through PEXA.

In simple terms, it's the technology that sits behind the settlement process and allows property ownership and funds to change hands securely online. Think of it as like the ASX for buying and selling shares, except it’s for property ownership.

How property settlements used to work

Before electronic settlements (also known as eConveyancing) became the norm, settlements looked very different. Conveyancers would physically attend settlement rooms in Perth's CBD, carrying paper documents and bank cheques. Settlement clerks spent their days running between offices and up and down St. George's Terrace delivering paperwork and coordinating settlements. If one party was running late, everyone else in the chain was delayed too.

While the old system served its purpose, it was slower, more labour-intensive, and relied heavily on paper documents and physical cheques. PEXA has largely replaced that process with a secure digital alternative.

Why is PEXA used for settlement in WA?

Let’s start by explaining that if a settlement CAN be settled electronically via PEXA in WA, it MUST be settled electronically. This is mandated by Landgate, on behalf of the WA State Government. Even if you would prefer to settle the traditional way, this is no longer an option.

In saying that, there are significant advantages to using PEXA to settle your property:

Faster settlements

Funds can be transferred electronically between banks and parties without waiting for cheques to clear. In most cases, sellers receive their funds within minutes or, at the latest, overnight. Transfer documents are lodged electronically with Landgate at the same time settlement occurs.

Greater security

eConveyancing significantly reduces the risks associated with lost documents, lost cheques, and manual handling of funds. It also removes the registration gap that was common in paper settlements, where there was a time lapse (sometimes of days) between the buyer handing over funds for the property and the transfer documents being physically lodged at Landgate.

Improved accuracy

The platform contains multiple validation checks designed to reduce errors before settlement can proceed.

Better coordination

Banks, conveyancers and Landgate can all work within the same settlement workspace, making it easier to coordinate transactions.

What happens inside a PEXA workspace?

A PEXA workspace is essentially the digital environment where settlement takes place. Depending on the transaction, the workspace may include:

• The buyer's conveyancer

• The seller's conveyancer

• The buyer's bank (incoming mortgagee)

• The seller's bank (mortgagee on title)

Each party has tasks they must complete before settlement can occur. For example:

• Banks must confirm loan funds and prepare the mortgage or discharge of mortgage

• Conveyancers prepare transfer documents and settlement figures.

One thing many clients don't realise is that while PEXA provides some visibility into progress, it doesn't provide complete visibility. We can see whether certain tasks have been completed and whether parties are participating in the workspace, but we can't necessarily see every internal process taking place within another bank or conveyancer's office.

This is one reason why settlements can occasionally be delayed, even when everything appears to be progressing normally.

Is PEXA safe?

Security is one of the main reasons the property industry moved to eConveyancing. PEXA includes numerous safeguards and verification processes designed to protect buyers, sellers and lenders. That said, technology alone isn't enough. Your conveyancer still performs multiple checks before settlement, including:

• Confirming account details

• Verifying transfer documents

• Reviewing settlement figures

• Confirming mortgage payout amounts

At North Shore Conveyancing, we don't simply rely on the system. We still manually review and verify critical information because when it comes to moving large amounts of money, there's no such thing as being too careful.

What does PEXA not do?

One common misconception is that PEXA replaces a conveyancer. It doesn't. PEXA is simply the platform used to complete settlement. Your conveyancer still:

• Reviews your contract and explains conditions and deadlines

• Orders searches and enquiries

• Calculates adjustments

• Coordinates with banks and agents

• Provides advice and guidance, and generally manages the end-to-end settlement process

Think of it this way:

PEXA is the vehicle.

Your conveyancer is the driver.

Without an experienced conveyancer managing the process, the technology alone won't get you where you need to go.

Why is there a PEXA fee?

You’ll likely notice a PEXA fee listed on your settlement statement or conveyancer's invoice and wonder what it's for. This is the fee that is charged for the use of the electronic settlement platform. For the 2026/27 financial year, the PEXA fee for a typical sale or purchase workspace is $146.30, including GST. It is generally treated as a disbursement, meaning it's a third-party cost paid as part of the settlement process rather than a fee charged by your conveyancer.

The amount can vary depending on the transaction type and is typically disclosed in your settlement costs. Because electronic settlements are now standard practice in WA, the PEXA fee has become a normal part of most property transactions.

Can settlement still be delayed on PEXA?

Yes. This is another misconception about electronic settlement. While PEXA makes settlement faster and more efficient, it doesn't eliminate delays entirely. Common causes of delays include:

• Banks not being ready (often due to missing or incomplete paperwork)

• Outstanding contract conditions

• Incorrect settlement figures

PEXA can't make another party ready if they haven't completed their requirements. What it does do is provide a much more efficient framework for coordinating the settlement once everyone is ready.

Common questions about PEXA

Do I need to attend settlement?

No. One of the biggest benefits of PEXA is that no one needs to physically attend settlement. Your conveyancer handles the process on your behalf, from their office.

Can I see the PEXA workspace?

No. To be a part of a PEXA workspace, you must be a subscriber, which requires you to be a lender, or conveyancing representative of one of the parties involved in the settlement transaction. However, your conveyancer can provide updates about progress and settlement readiness.

What time does settlement happen?

Settlement can occur at various times throughout the business day, depending on when all parties are ready and have signed off on the workspace. Most settlements occur between 11am and 2pm.

Is PEXA the only settlement platform in WA?

Yes. PEXA is currently the only platform used for electronic property settlements in Western Australia.

Does PEXA transfer the title?

Yes. Once settlement completes, the transfer documents are lodged electronically with Landgate via the PEXA platform to update ownership of the property.

FAQ: What is PEXA?

What is PEXA in property settlement?

PEXA is the online platform used to complete property settlements electronically across Australia, including in Western Australia.

Is PEXA mandatory in WA?

Most standard property settlements are now completed electronically through PEXA.

Is PEXA safe?

Yes. PEXA includes multiple security measures, and your conveyancer also performs independent verification checks before settlement.

Why do I pay a PEXA fee?

The fee covers use of the electronic settlement platform and is generally shown as a disbursement on your settlement statement.

Can settlement still be delayed if it's on PEXA?

Yes. Delays can still occur if banks, conveyancers or other parties are not ready to settle.

Understanding the technology behind your settlement

PEXA has transformed the way property settlements are completed in WA. While buyers and sellers don't interact directly with the platform, your conveyancer uses it behind the scenes to securely transfer ownership, move funds, and coordinate settlement among all parties. The important thing to remember is that PEXA is a tool, not a replacement for expert advice. A smooth settlement still relies on having an experienced conveyancer guiding the process and keeping everything on track.

North Shore Conveyancing supports buyers and sellers across Perth with secure, modern settlement services and clear communication at every stage of the transaction. If you're buying or selling property and want practical advice about the settlement process, contact Katelyn today.