Impacts of implementation of ‘e-Conveyancing’ on the Conveyancing Industry

Australia’s conveyancing industry is large and reached a level of maturity, and it’s currently undergoing a digital evolution. Five Australian states have gone from paper to electronic, including electronic conveyancing Melbourne firm, Wollerman Shacklock. Along with smoothing the process and making it quicker, it’s also having impacts on the conveyancing industry as a whole. We’re going to go over what a few of the most significant impacts are and a few of the major benefits below.

Biggest Impacts of E-Conveyancing on the Conveyancing Industry

Paperwork is the traditional way to do things, and getting an entire industry to switch to digital is a time-consuming process that takes years from start to finish. The conveyancing industry may already feel some of the biggest impacts, and they include:

Less Paperwork

One of the most significant impacts of going digital is getting rid of a lot of the paperwork that typically comes with property settlement. You don’t have to fill out multiple forms and have to ‘hope you filled them out correctly’. You also don’t need specific paperwork for different stages of the conveyancing process or for different entities you work with like an electronic conveyancing lawyer. There are no more paper cheques that you have to fill out and wait for the buyer or seller’s financial institution to validate and accept either.

Fewer Manual Processes

Since every part of the conveyancing process is through a digital platform, you’ll see a large decrease in the manual processes involved in conveyancing. For example, you won’t have to fill out paperwork, post it and wait for a reply. Instead, you’ll fill it out online, and the other electronic conveyancing lawyer can have it in a matter of seconds. It also automatically checks for errors, and this can reduce the amount of time you spend fixing and resubmitting paperwork.

Benefits of E-Conveyancing for Melbourne and other Australian states

Along with the impacts of electronic conveyancing come the benefits. People expect fast results, and digital or electronic processes can deliver them much faster than traditional routes. The main benefits of e-conveyancing include but are not limited to:

• Convenient – Having all of the necessary files, titles and paperwork all in one centralised location is extremely convenient for both the client and the electronic conveyancing lawyers and financial institution. It’s all at their fingertips, and this makes filing and moving the process along easy and convenient.
• Less Room for Error – ‘To err is human’, and it can slow down the conveyancing process by a huge margin because you have to go back, correct and resubmit any paperwork that contains errors. The electronic version automatically checks for errors, and fewer errors equals a greater outcome for clients and property owners.
• Easier Interaction Between Parties – Whether you’re an electronic conveyancing lawyer, a representative from the buyer’s or seller’s bank or the conveyancer yourself, a digital platform makes it easy to interact. You can send instant status updates and request electronic versions of the paperwork.

Contact Wollerman Shacklock Lawyers today for Professional Electronic Conveyancing support!

Our clients turn to us for electronic conveyancing in Melbourne. We have years of experience, and we’ll work hard to help you get through the conveyancing process quickly and effectively! Contact us here at Wollerman Shacklock Lawyers today!