If you’re moving toward buying your first house, you may wonder: what is Verification of Identity?
Verification of Identity, or VOI, is something that has actually been involved in real estate since the Real Property Act of 1886. Agents representing anyone involved in a property transfer are required to take “reasonable steps” to confirm that their client is who they say they are.
The act has been mostly successful in preventing fraud and theft of real estate for a long time, but things have changed a little in the last ten years. Since online property transactions have become more common, the states have all introduced reforms to give buyers and sellers an extra layer of protection. Australians need to verify their identities when taking certain actions, such as making major purchases, obtaining a loan or buying of a property . Steps may include submitting documents like FORM 1 and being subject to a “cooling off” period – allowing time for review before committing.
What is VOI in South Australia?
In SA, we operate from the Registrar-General’s Verification of Identity Requirements, which were introduced in 2013 and are generally updated yearly. It allows agents to work with buyers and sellers in the digital age with PEXA and other online conveyancing services in Australia.
So, why the update? What makes the move to online services and communications so different?
The ways that people interact online can change really fast, and that includes property transactions. South Australian law needs to stay ahead of the curve when it comes to fraud to keep our Torrens land title system secure and trusted. So, with VOI and PEXA requirements, conveyancers in South Australia who operate in the system are updated on how fraud can change and better protect our clients.
With VOI as a requirement for all parties involved in a real estate transaction, you can rest assured that you won’t be defrauded in a deal, so you can focus on buying your property.
So, what do you need for VOI?
It’s pretty simple, and your conveyancer will quickly walk you through what’s required to achieve your Verification of Identity. You need to produce documents that adequately prove your identity under the Registrar-Generals VOI Requirements.
The easiest way to achieve this is with:
- An Australian or foreign passport that’s either current or has expired within the last two years.
- A current driver’s licence or proof of age card.
Your full name must match on both documents, and your photo must be an accurate likeness of you. If your name has changed since you were issued either of these documents, you’ll need a marriage certificate to complete the connection.
If you haven’t got a passport that meets the requirements, instead, you’ll need both of:
- A full birth certificate.
- A Medicare, Centrelink, or Department of Veteran Affairs card.
The same requirements for matching names and accurate photos apply.
All documents must be original, physical copies and supplied in person, in a face-to-face meeting with your conveyancer or legal agent. If you’re representing yourself in a property transaction, you’ll need to independently verify these documents face-to-face with a justice of the peace or a peace officer.
The whole process can be done through an Identity Agent your conveyancer hires. For example, if you were in Melbourne and it would be difficult to meet with your Adelaide conveyancer, they could send you to an independent agent like Australia Post near you for verification. Additionally, they can send you a link through an easy-to-use online identity verification platform that allows you to complete your Verification of Identity (VOI) to the same standard every time whether in person or remotely. Infotrack ID is a trusted platform like this.
The VOI lasts for two years and is stored for 7 years with the agent by who you are represented, so if you moved to a new conveyancer, you’d have to resupply your documents.
So, that’s all it takes to have your identity verified.
Since your conveyancer will be performing the process with you, they will happily answer any questions about why it’s important, how to present your documents, and what documents you’ll need.
So, if you’re looking to buy or sell property soon, come in and talk to us now so we can prepare your VOI before you need it. To learn about verifying your identity in Australia and gaining tips for secure you first home here in Australia? We’ve got you covered! From handy resources to insider secrets, discover the best ways of making sure you get a great deal – all from the comfort of your own home.
At Beltana Property Group, we are experienced conveyancers servicing the Adelaide metropolitan region and regional South Australia. We tailor our advice and services to meet your specific circumstances to ensure we provide you with a smooth, stress-free experience. This means that by engaging Beltana Conveyancing, you can be assured that you won’t be caught out while navigating the property market.
So, if you’d like to have a chat with us about your property goals, whether it’s in metropolitan Adelaide or regional South Australia, we’d love to hear from you and find out if we can help you achieve your dreams.
