PEXA Key is an app built by PEXA (the electronic settlement platform) that features a moving checklist with a top line guide on what happens during settlement, such as a countdown to when settlement is due to take place and any changes to this along the way. It also allows users to safely share their account details using multi-factor authentication. YMC encourages our clients to use the PEXA Key App for this purpose, but it is in no way mandatory, nor does it replace any function of a conveyancer’s role within the transaction.

FAQs Archive - Page 2 of 5 - Your Move Conveyancing

Q: Exchange of contracts

This is the time in which a legal relationship is formed between yourself and the seller. Contracts will either be exchanged with a cooling-off period for the benefit of the buyer, or unconditionally. The deposit is also payable at this time.

Q: What is verification of identity and is it needed in property transactions?

All buyers and sellers in NSW are required to verify their identity when completing any conveyancing related transaction. These identification requirements are outlined in the Model Participation Rules, a document written by ARNECC (the Federal Government body which is responsible for the mandating of the Model Participation Rules). You can view the requirements here .

Q: How quickly can you prepare a contract of sale?

We can usually prepare a draft contract of sale within 2-3 business days. Delays can occur where a seller is not able to provide required information to complete the contract, there are outstanding compliance certificates (e.g. pool), or there is a delay from your local council in preparing the zoning certificate.

Q: How long does a contract review take?

Where you have offer and acceptance on a property YMC can provide 2-hour contract review turnaround. When you get in touch, or provide us with a contract to review, please let us know whether you have had your offer accepted and we will expedite the service for you. For all other reviews, you can expect to receive your summary within 24 hours.