What Does Identity Verification Mean and Why Is It Important?

When you’re involved in a property transaction as a buyer or seller, it’s a legal requirement to have your identity verified. 

This applies to individuals, but also to people who are acting on behalf of a business or other legal entity. 

There’s an obvious reason for this requirement – the process of identity verification helps reduce the risk of identity fraud and prevent the registration of fraudulent property transactions.

As registered conveyancing professionals, the identity verification process is part of the due diligence we carry out for every property transaction we process. This applies to electronic settlements processed through the PEXA system, as well as paper-based transactions.

In most cases the identity verification process is reasonably quick and easy. 

As the person being identified, you must produce proof of your identity in the form of current and original documents.

Your Australian driver’s licence, birth certificate or passport are all excellent choices for verifying your identity, however there are other documents which are also acceptable. 

You can find a comprehensive list of acceptable identity documents on the Australia Post website.

At Cornerstone Conveyancing SA we offer three different methods of identity verification:

1. 1. 1. 1. Attend an in-person interview in our centrally located office in Pirie Street in the Adelaide CBD, available 9:00am to 5:00pm Monday to Friday, or in our Mt Barker location by appointment. You will need to bring your identity documents with you.
         2. Receive a link to the InfoTrack ID system on your mobile phone and follow the prompts to complete the identity verification online.
         3. Visit a participating Australia Post outlet and use their Verification of Identity Service to complete your identity check. There is a fee of $49 payable to Australia Post for this service, and you will need to take sufficient identity documents with you.

If you would like to know more about the identity verification process, you can read The Registrar-General’s Verification of Identity Requirements on the Land Services SA website.

Please get in touch if you have any questions at all about identity verification or any other aspect of the conveyancing process.

Our friendly and experienced team is here to help!