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A system to make buying and selling property more efficient may have the unintended consequence of increasing costs. Photo: Attila Csaszar

Concerns mount over e-conveyancing

The move to an electronic conveyancing platform for house and land transactions in WA is being rushed, according to a peak lobby group.

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The increase in cost is actually higher. Buyers will need to do Verification of ID (currently only required for Selkers) adding approx extra $80 per couple. Banks also have to pay PEXA fee for their part in the transaction (approx $40-50), meaning Buyers will pay extra $200-240 per transaction! Sellers will be $80 less as they already have to do ID.

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