Settlements Archives - Page 2 of 4

We are lawyers, but we are people first

August 23, 2021

We are lawyers, but we are people first How personalised tech support and a team that feels like family, helped one firm thrive through Victoria’s many pandemic lockdowns For all businesses across Australia, the last two financial years have created challenges, like we have never seen before. We recently spoke with Bona Fide Lawyers in Victoria. Rachel Lapinskas, Tim Riley, Megan Glew and the team shared their experiences over the last 18 months explaining how they have managed large matters (either together or from a distance) whilst staying grounded and a key part of their local community. What sets your firm apart from others? Although we handle our fair share of large, complicated matters, at our heart we are a tight-knit little family who is proud to be part of our local community. We work hard to make sure that our clients feel supported and listened to and that they understand what is happening and can make informed decisions at every step of their matters. Between them, our partners have a wealth of knowledge and technical expertise in their respective fields, but what really sets us apart from other firms is our approachability, attentiveness and the holistic perspective from which we

How did your firm compare during COVID-19?

April 21, 2021

How did your firm compare during COVID-19? CommBank have released their annual Legal Market Pulse Report that tracked Australia’s corporate law firms and how they coped during the pandemic. The report found: Demand for legal services in Australia rose by 6.2 per cent compared with the year before. Sixty-three per cent predicted that IT hardware, software and cybersecurity would be their biggest investment going forward. The Commonwealth Bank’s Head of Professional Services Belinda Hegarty said, “More resilient firms have clearly led the way in adopting technology. They better understand its potential to help deliver services faster, simpler and cheaper, and to create new products and services.” The Legal Forecast National Board Director Erika Ly believes there has been a “significant and positive shift towards a greater and more serious acceptance of online and virtual programs.” This shows that law firms across Australia are recognising the power of technology to assist them through challenging times and that firms have also recognised how technology can help with longevity and staying competitive. You can get a competitive edge over your competitors with technology. As a property lawyer or conveyancer, if you’ve thought about expanding your offering interstate but don’t have the resources or expertise, there is a solution. SettleIT is

Real Estate activity is rising, how is your firm keeping up?

December 22, 2020

Real estate activity is rising, how is your firm keeping up? Recent adjustments to stamp duty across NSW and Victoria aim to kickstart the economy and Real Estate Agents, property lawyers and conveyancers will benefit. In Victoria, stamp duty will be slashed up to 50%, but this will only apply to newly built homes up to the value of $1 million and will be available until June 2021. Alternatively, those in Victoria buying pre-existing homes can expect to receive a 25% discount, again up to $1 million. In NSW, stamp duty reforms are still underway with final decisions being announced in March, but under the current proposal, home buyers will be able to choose if they would prefer to pay stamp duty or an ongoing annual land tax. It is hoped that these changes will bring people back into the property market, which suffered heavily during the height of COVID-19. There has also been reported growth in the number of properties coming into the market now consumer confidence has recovered. Real Estate Agents are seeing an influx of requests for settlements to take place during the Christmas and New Year period as well as for interstate service as people look to move with remote working

Maintain profitability and earn valuable rest this holiday season

November 16, 2020

Maintain profitability and earn valuable rest this holiday season As the holiday season draws near, you may be thinking about the months ahead. Are you looking to expand your services into different states in 2021, to stay profitable, but don’t currently have the expertise on board? Or will you wind back your property lodgment and settlement services in order to enjoy a well-deserved break? These are two of the challenges that property lawyers and conveyancers face in the time leading up until Christmas. While traditionally the summer is a slow period for many professional services and b2b businesses, it doesn’t have to be this way. Here are three strategies that you can implement to stay open for business these holidays, maintain profit, set your direction for 2021 and earn a well-deserved break. 1. Keep your brand presence front and center while you rest While you might be looking to hibernate, it’s important that your firm does not. It is important to stay viable to stay at the forefront of your client’s minds. So while you may not be working with them on a particular matter, when it comes to servicing them in the future, it is important that you are

Here’s why technology won’t take over your role

September 21, 2020

Here’s why technology won’t take over your role But it will give you capacity to do more with less resources. Recently, RMIT Online CEO Helen Souness shared her belief that many jobs of the future have one thing in common: Technology. “Automation and augmentation are one of the big technological trends,” Souness tells Together In Business. “They’re slightly scary words — people see drones or cyborgs working beside us — but actually automation is our friend. It takes away boring, repetitive tasks. The challenge with completing repetitive administration tasks is that mistakes can be made – especially when time is short. Technology won’t take over your role as a lawyer or conveyancer, but instead is here to support you to complete tasks quicker and with accuracy. In effect this gives you more time to grow your firm and develop stronger client relationships – something a robot will never be able to do. Think about the human skills you do have – negotiation and communication for example and allow technology to support you in the other aspects of running your firm. InfoTrack offers technologies that reduce administrative load. Integration between InfoTrack and your Practice Management System can transform your firm, reducing the need for repeat data

Interoperability and the future of eConveyancing

September 10, 2020

Interoperability and the future of eConveyancing On Monday, all Australian states and territories voted in support of interoperability between Electronic Lodgment Network Operators (ELNOs) in the Electronic Conveyancing National Law (ECNL). In addition, New South Wales, Queensland, South Australia and Western Australia further agreed to develop the technical and regulatory regime for legislation to be in place by mid-2021, with the aim to have the solution live as soon as practicable, and by no later than the end of 2021. Tasmania noted that it was taking steps towards implementing e-conveyancing locally. Interoperability is common in industries where data is shared between networks. For example, telecommunication companies. They operate by sharing data to facilitate calls and text messages. This enables consumers to communicate with each other irrespective of which network carrier they are a customer of. Interoperability links ELNOs to enable a user (conveyancer, lawyer, or financial institution) to be a subscriber to one ELNO, say PEXA for example and transact with a user of another ELNO, like Sympli, without having to subscribe to both. So, what will interoperability mean for you when it comes to settlements? Interoperability can be designed in such a way that ensures users continue to interact with

Why you need a property lawyer or conveyancer when you buy a property

July 28, 2020

Why you need a property lawyer or conveyancer when you buy a property Buying a property is a huge milestone and likely to be the biggest purchase you’ll ever make, so it pays to have your wits about you. The process of buying a home can be exciting, but scary to navigate. There are plenty of things that you can do yourself, like a title search, but how do you know what you’re looking for or in fact where to find it? A property lawyer or conveyancer can gather the right documents, recommend the right connections to make sure your finances are in order and review the contract when you buy. Here’s some things a property lawyer or conveyancer can do to support your next property purchase. Conducting a title search There are many reasons why you may need to conduct a title search such as buying or selling property, proving ownership or refinancing your mortgage. A Certificate of Title (CT) is a public and legal record of land ownership, including interests and restrictions on the land. In Australia, state land registries hold the title information. It can be viewed by doing a Title Search through an authorised provider, like InfoTrack.

The ACT closes in on eConvaceyancing mandate

July 27, 2020

The ACT closes in on eConveyancing mandate On June 1, the Australian Capital Territory (ACT) introduced amendments to the Electronic Conveyancing National Law (ACT) Act 2020 and the Land Titles (Electronic Conveyancing) Legislation Amendment Act 2020 (ACT). The changes mean the ACT is slowly introducing elements of the e-conveyancing workflow to assist lawyers and conveyancers with the transition prior to mandating. What does this mean for you? Now that land titles in the ACT are kept electronically it follows that lodgments should also be filed electronically. The aim is also to protect against fraudulent activity. In an effort to enhance compliance, the onus now is on lawyers, conveyancers and financial institutions (if necessary), to complete; Verification of Identity (VOI) of their client and a client authorisation form (CAF). Lawyers and conveyancers are also required to retain supporting evidence proving they are allowed to deal with a particular property. Important dates to note: Monday 17th August 2020Banks will begin creating workspaces and lodging standalone Discharges and Mortgages. From this date financial institutions can create workspaces and send invitations for Refinancing where the Settlement Date is on or after Monday August 31. Monday 7th September 2020Legal and conveyancing practitioners can begin creating workspaces and sending invitations

New NSW building law could be a game changer for apartment safety

July 22, 2020

New NSW building law could be a game changer for apartment safety Matthew Bell, Senior Lecturer and Co-Director of Studies for Construction Law, University of Melbourne This article is republished from The Conversation under a Creative Commons license. Read the original article. Three years have passed since a cladding-fuelled fire claimed 72 lives in Grenfell Tower, London, on June 14 2017. The construction industry and its regulators around the world are still grappling with how to create effective regulations to ensure dwellings are built to keep their occupants safe. The New South Wales Parliament passed two important bills last week: the Design and Building Practitioners Bill 2020 and the Residential Apartment Buildings (Compliance and Enforcement Powers) Bill 2020. This put in place two important pieces of the “jigsaw puzzle”, as NSW Better Regulation Minister Kevin Anderson put it. The Residential Apartment Buildings Bill in particular could be a game changer and is the focus of this article. The law is expected to take effect on September 1 2020. New powers to order serious defects be fixed The centrepiece of the legislation is an ability for the Secretary of the Department of Customer Service to order the correction of “serious defects” in residential apartment buildings. In practice, the NSW building commissioner and his

3 solutions helping conveyancers to differentiate their firms

June 23, 2020

3 solutions helping conveyancers to differentiate their firms It’s been a big year, and we’re only halfway. Now is the time to look forward and think about what you can do to differentiate your firm from others. What strengths does your firm possess that can help you go above and beyond for your clients, enhance your reputation and do more with less? Do you have all the tools you need to help you demonstrate what differentiates your firm from the rest? Here are three solutions helping conveyancers enhance their client relationships and differentiate their firms. Settle electronically to reduce admin and do more with less resources InfoTrack offers an electronic settlement service, SettleIT, which allows you to outsource any upcoming property settlements. This means if you have never completed an electronic settlement before, or you don’t have the time or resources to do it yourself, you can rely on the Australian-based team at SettleIT to act under your instructions, post unconditional contract exchange, to provide a personalised fixed-price service. Furthermore, you don’t need to be registered with an ELNO like PEXA or Sympli as the SettleIT team are registered and can use their own accounts to do this for you. SettleIT can

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