FAQs
SettleIT is an electronic settlement and lodgment service designed to manage the administrative aspects of property settlements. This allows legal professionals to focus on providing legal advice and client support while SettleIT handles the settlement process.
You can explore SettleIT’s services in the ‘Settlement’ step, where key tasks such as Verification of Identity are automatically initiated upon order placement – at no additional cost to you. Additional tasks at this stage include the Client Authorisation Form, Trust Account Authority and, when applicable, Purchaser Declaration and the Mortgage Discharge Authority Form. If you have already started these tasks in the ‘Client Engagement’ step of the interface, SettleIT will seamlessly sync your data to prevent duplication.
SettleIT seamlessly integrates with various features of the new InfoTrack interface, including client engagement tasks and property certificate ordering. The connection with other solutions and practice management systems helps streamline processes within the updated interface.
Clients typically place their order with SettleIT once the contract becomes unconditional. However, as the fee is only deducted upon settlement occurs, you have the flexibility to place your order any time before the unconditional date if preferred.
You can reach your assigned file handler through the messaging tool within the Settlement Steps in the new interface. Key updates on your settlement will also be communicated within the same space.
SettleIT is an all-inclusive settlement and lodgment service, enabling law firms and licenced conveyancers to outsource the heavy administration of their conveyancing matters across Australia.
Our online portal gives you complete visibility of our workflow with milestones being communicated to you via email and/or text when we need you to approve or action a task.
With the exception of Requisitions on Title, SettleIT will handle all the administrative aspects of a conveyancing matter, post unconditional exchange.
As part of our all-inclusive service SettleIT will:
✓ Conduct a Verification of Identity (VOI) on your client(s)
✓ Complete the Client Authorisation Form (CAF)
✓ Set up the ELNO workspace and invite all parties
✓ Order Council and Water Rates Certificates (if not already ordered by you)
✓ Prepare the Transfer and Statement of Adjustment
✓ Attend to any stamping
✓ Hold funds in our Trust Account
✓ Undertake a Title Activity Check
✓ Lodge GST property settlement forms with the ATO
✓ Send the post settlement communications including an SMS on completion
✓ Draft the order on the real estate agent
✓ Send an SMS to the real estate agent on completion of settlement
SettleIT only takes instruction from lawyers and licenced conveyancers. We do not act for individuals or non-legal entities. Our role is to be an agent of the legal profession to assist in conveyancing administration across Australia post-exchange.
SettleIT’s service fees are as follows:
eSettlement in NSW, QLD and VIC: $385
eSettlement in SA and WA: $495
eLodgments: $198
eLodgments plus Stamping: $220
eSettlement Priority: $220
SPEAR lodgments: $330
All prices are inclusive of GST. The SettleIT fee will continue to be deducted at the time of settlement, from the settlement proceeds.
No, we are registered with PEXA so that you do not need to be. We utilise our own PEXA credentials, allowing your firm to truly outsource conveyancing administration.
Yes, a key benefit of using SettleIT is that we enable law firms and licensed conveyancers to settle and lodge across Australia. We have trained agents in NSW, VIC, QLD, SA,WA and ACT allowing you to assist your clients wherever they may transact with property.
Yes, our settlement service includes attendance to Stamping at no additional cost.
In order for us to ensure security within the PEXA workspace you will not be able to view the workspace directly. However, our SettleIT workspace provides complete visibility of the settlement process including PEXA information through our API integration. The SettleIT platform synchronizes with the PEXA workspace and all data is live and in real-time. You also have access to direct messaging with your file handler for peace of mind.
SettleIT does not use your PEXA logins, we have our own subscriber accounts. However, we can take over existing workspaces should you have already created one or have been invited by the other side.
Yes, you most definitely can. SettleIT can be used as much or as little as a firm requires. SettleIT works on a pay per use model, with no subscription fees or contracts. Our fee is paid when the matter settles from the proceeds of settlement funds.
SettleIT does not communicate directly with your client, we act as your agent and will liaise with you to communicate with the client where necessary.
Yes, we do. Settlement adjustments are included as part of our all-inclusive service offering with no additional cost.
SettleIT utilise Securexchange (powered by InfoTrack) to manage documents and funds in a secure and safe guarded environment. The funds will be transferred to a verified account in Securexchange, guaranteed up to the value of $1,000,000 AUD. Giving your firm peace of mind in the unlikely event of any security breaches
You have access to our Trust Account at no additional cost.
SettleIT and our agents will arrange for a verification of your client using InfoTrackID at no additional cost. You will have access to unlimited verifications as part of your order should there be multiple parties.
Yes, the Client Authorisation Form is still required. SettleIT and our agents will need to be named as the representative providing us authority to act. We will arrange a prepopulated SignIT eSignature Client Authorisation to be sent to your client for each transaction at no additional cost.
The SettleIT Partner Network is made up of Law Firms and Conveyancing Practices. They each hold the appropriate insurances including but not limited to professional indemnity, public liability, products liability and cyber insurance. With the appointment of internal and external auditors, stringent processes have been adopted in order to strictly adhere to the recommended ARNECC guidelines enabling us to transact on your behalf with confidence.
SettleIT will sign off on the settlement within PEXA. Your firm will be prompted prior to settlement that you are happy for us to proceed once you have been provided the documents and directions. This approval process by your firm must be completed by a lawyer or licenced conveyancer.
SettleIT is available to your firm as part of your InfoTrack account. We provide support and training at no cost to your firm. To get started, please contact one of our helpful team members at settleit.news@infotrack.com.au
