The more you think about it, the more I, we you cannot wait for the commencement of Electronic Conveyancing. I would figure at least three times this year, the Transfer of Land document has been "lost" prior to settlement. Somewhere, somehow our client or the other side's client has not returned the executed Transfer in readiness for settlement. So what do we all do in the collaborative spirit of making settlement happen? If we are acting for the Purchaser, we email our client an Annexure page (A1) and have them print, sign and courier or express post the A1 back to us. The solicitor for the Vendor does the same with the actual Transfer and the two documents are married up at the actual settlement.
I am physically over it. I dont get involved. My staff know the routine and the job gets done. Its no-one's fault. The system is the problem and the mortgage and legal industry need to work hard to change, to embrace innovation and to change. Forget the excuses.
The securities industry eliminated this farce 10 years ago.
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