What is PEXA? Queensland property settlement platform explained

Quick answer: PEXA (Property Exchange Australia) is the online platform used to settle property transactions electronically in Australia. Instead of paper documents and bank cheques, your solicitor lodges documents and transfers funds digitally through PEXA, making settlement faster and more secure.

PEXA stands for Property Exchange Australia. It’s the electronic platform Queensland uses to settle property transactions. When you buy or sell a house in QLD in 2026, the money transfer, the mortgage discharge, and the title change all happen through PEXA in real time on settlement day – no more cheques being couriered across a settlement room.

TLDR

• PEXA (Property Exchange Australia) is the electronic platform that settles QLD property deals – money transfer, mortgage discharge, and title change all happen at once, in about 10 minutes.
• You don’t use PEXA yourself – your lawyer does it on your behalf.
• The one thing to check: make sure your bank account is PEXA-connected before settlement day.
• It replaced paper settlements and couriered bank cheques back in 2016.
• A small PEXA fee (~$100-$200) is bundled into your settlement disbursements.

PEXA is an electronic conveyancing platform that handles the financial and legal exchange when property changes hands. When you buy or sell a house in QLD in 2026, the money transfer, the mortgage discharge, and the title change all happen through PEXA in real time on settlement day – no more cheques being couriered across a settlement room. Settlement takes minutes instead of hours, funds clear instantly, and the title is registered automatically with Titles Queensland.

How PEXA replaced paper settlement

Until 2016, every property settlement in Queensland happened in a physical settlement room. The buyer’s lawyer turned up with a bank cheque, the seller’s lawyer turned up with the signed transfer documents, the bank discharged the mortgage, and everyone hoped nothing got lost in transit. PEXA changed that. It connects the buyer’s law firm, the seller’s law firm, the buyer’s bank, the seller’s bank (discharging the mortgage), Titles Queensland (registering the new owner), and the Queensland Revenue Office (collecting transfer duty). When everything’s ready, the settlement “completes” in PEXA in about 10 minutes. The funds move, the mortgage discharges, the title flips, and the new owner is registered – all simultaneously. The big change happened in COVID – CBD’s were basically shut down – it was the perfect catalyst to transition from paper over to PEXA for property settlements!

What PEXA does on settlement day – step by step

The night before: lawyers on both sides upload final figures, settlement statements, and signed documents to PEXA.

Morning of settlement: the buyer’s lawyer confirms the buyer has cleared funds in their PEXA-connected account. The seller’s bank confirms the mortgage discharge figures.

At the agreed settlement time: all parties hit “ready” in PEXA.

Settlement completes: PEXA orchestrates the simultaneous money transfer, mortgage discharge, and title transfer. This happens in under 10 minutes.

Confirmation: PEXA emails all parties confirming settlement. The buyer’s lawyer can now release the keys to the buyer.

Post-settlement: the title is automatically registered with Titles Queensland – no separate registration step needed.

What PEXA means for you as a buyer or seller

You don’t directly use PEXA. Your lawyer does, on your behalf. But the practical implications are real. For buyers: you need to have your purchase funds in a PEXA-connected account before settlement. We help you avoid an awkward gap, where you’ve sold but still owe the bank. You can plan settlement day around it more confidently.

PEXA in Queensland vs other states

PEXA covers QLD, NSW, Victoria, WA, SA, and recently TAS. The mechanics are similar across states but each has its own regulator and slightly different document flows. In Queensland, PEXA settlement is now used for the vast majority of residential property transactions. The exceptions are some commercial settlements (still occasionally paper), settlements involving overseas parties without PEXA-connected banks, and settlements with title issues that need manual workaround. Empire Legal handles every QLD residential matter through PEXA by default.

PEXA and transfer duty

Transfer duty (stamp duty) is automatically calculated and remitted to the Queensland Revenue Office as part of the PEXA settlement. Your lawyer enters the dutiable value, any concessions you’re entitled to, and PEXA handles the rest. The funds for transfer duty come out of the buyer’s settlement funds at the same instant settlement completes. For more on transfer duty in QLD, see our QLD stamp duty explainer and our stamp duty calculator.

How much are PEXA fees?

PEXA charges a fixed platform fee per transaction, set out in its published fee schedule and reviewed each financial year. For a standard residential transfer it’s in the order of $150 including GST (as at 2026 – check PEXA’s current schedule for the exact figure), with smaller fees for standalone dealings like a discharge of mortgage or a caveat. You’ll see it as a single line item on your settlement statement.

Three things worth knowing about PEXA fees:

• Each party pays their own. Buyer and seller are each charged for their side of the settlement workspace – PEXA doesn’t double it up on one party.
• It replaced paper costs, not added to them. Bank cheque fees, settlement attendance fees and document couriers all disappeared with paper settlements – for most transactions the electronic path is cheaper overall.
• It’s separate from your conveyancing fee. PEXA’s fee goes to PEXA. Your lawyer’s fixed fee covers the legal work – contract review, searches, adjustments and running the settlement. At Empire Legal, our quote itemises both, so there are no surprises.

Questions about PEXA settlement timing – what time settlement happens, and what occurs if a party isn’t ready – come down to how the workspace is managed. That’s your conveyancer’s job, and it’s why our director has sat on the PEXA Member Advisory Council for more than three years.

Common PEXA questions

Is PEXA safe?

Yes. PEXA is heavily regulated. Funds move through Reserve Bank-backed settlement, not through PEXA’s own accounts. Every party in a PEXA transaction is verified, and the platform has audit trails of every step.

Can I see what’s happening in PEXA during my settlement?

You don’t have direct access to PEXA – your lawyer does. But your lawyer will email or call you to confirm settlement has completed, usually within minutes.

Can PEXA settlements fail?

Rarely, and almost always for reasons unrelated to PEXA itself – usually a buyer’s funds not clearing, or a last-minute issue with the mortgage discharge. When PEXA settlements do fail, they’re reset and re-attempted within hours.

Do I need to do anything to be PEXA-ready?

For most QLD buyers and sellers, no. Your law firm handles all the PEXA setup. The one thing you do need to confirm with your lawyer is that your bank account is PEXA-connected for receiving sale proceeds (selling) or sending purchase funds (buying).

Does PEXA cost extra?

PEXA charges a small fee per transaction (around $100-$200), which is included in your settlement disbursements. It replaces the older paper-settlement costs that would otherwise apply.

Is PEXA mandatory in Queensland?

For practically all residential settlements, yes – PEXA is the standard. A small number of matters still settle on paper (some commercial deals, settlements involving overseas parties without a PEXA-connected bank, or files with title issues needing a manual workaround), but if you’re buying or selling a home in QLD, your matter will almost certainly settle electronically.

Can I settle on a weekend or public holiday?

No. PEXA settlements run on business days only, within set hours, because the banks and Titles Queensland need to be online. If your settlement date lands on a weekend or public holiday, it rolls to the next business day – worth keeping in mind when you’re agreeing settlement dates in your contract.

Who pays the PEXA fee – buyer or seller?

Both sides pay their own PEXA fee, bundled into each party’s settlement disbursements. It’s a small per-transaction cost (around $100-$200), not a surprise extra on top of your legal fees.

What’s the difference between PEXA and my lawyer?

PEXA is just the platform – the electronic “room” where settlement happens. It doesn’t give you advice, check your contract, or protect your interests. That’s your lawyer’s job. Think of PEXA as the rails, and your lawyer as the one driving the transaction safely down them.

What if my bank account isn’t PEXA-connected?

Most major Australian banks are PEXA-connected, so this is rare. If yours isn’t, your lawyer can usually arrange for funds to flow through a trust account so settlement still proceeds electronically. The key is to raise it early – confirm with your lawyer well before settlement day, not the morning of.

What happens if PEXA has an outage on settlement day?

Outages are rare, but if one happens, settlement simply pauses and re-attempts once the platform is back. Because nothing moves until every party hits “ready” and the system completes, an outage can’t part-settle your matter or misdirect funds – it just delays it, usually by hours.

Does PEXA work for off-the-plan or commercial purchases?

Off-the-plan residential settlements run through PEXA the same way standard purchases do. Most commercial settlements do too, though a minority still settle on paper depending on the parties and any title complexities involved.

Buying or selling in Queensland?

Empire Legal handles QLD conveyancing through PEXA on every residential matter. Solicitors and experienced paralegals on every file, fixed fees, and a real person to call from contract to settlement. Email info@empirelegal.com.au with the property address and we’ll come back the same day. Or call (07) 3088 7675 Monday to Friday, 9am-5pm. See our pricing page for the full fixed-fee breakdown, or our conveyancing process guide to see how PEXA fits into the broader timeline.