Ever use Escrow.com?

Snotty

Snotty

Old Man with a Hat
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Hello Friends. I have received an offer for the Dodge 600 I am selling; the owner accepted the offer. The buyer wants to use a program called Escrow.com. I want him to send a check.

Have any of you ever used this site? Do you trust it? Please let me know, thanks!
 
twostick said:
Don't know anything about them but there is a lot of fraud in that business especially on deals like you describe.

Kevin
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That's why I'm asking, Kevin. Car is not mine but I don't want the woman to be taken.
 
I used Escrow.com when i bought my GTO as I bought it sight unseen from Ohio. The seller actually recommended we use it. The funds went into an escrow account and I had 3 days to inspect the vehicle once received. If it was not as the seller represented, I had the option to not release the funds to the seller and return the car on my dime. It gave me peace of mind the seller was representing the car truthfully. I released the funds two days after I took delivery and the transaction went smoothly. After my experience, I'm not sure I'd do a similar purchase without the use of an escrow.
 
rexus31 said:
I used Escrow.com when i bought my GTO as I bought it sight unseen from Ohio. The seller actually recommended we use it. The funds went into an escrow account and I had 3 days to inspect the vehicle once received. If it was not as the seller represented, I had the option to not release the funds to the seller and return the car on my dime. It gave me peace of mind the seller was representing the car truthfully. I released the funds two days after I took delivery and the transaction went smoothly. After my experience, I'm not sure I'd do a similar purchase without the use of an escrow.
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OK, that's what I was hoping for. Ghat you describe is what is written in the description of the site itself. What I don't like is the part about the three days to inspect. The guy has already low-balled me; I don't want him to get the car and say, "Hey, I don't like X," and then wants to pay less.
 
Snotty said:
OK, that's what I was hoping for. Ghat you describe is what is written in the description of the site itself. What I don't like is the part about the three days to inspect. The guy has already low-balled me; I don't want him to get the car and say, "Hey, I don't like X," and then wants to pay less.
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I suspect that if you use that service you will be able to modify the terms to suit your needs. In other words, there won't be a 3-day inspection period for every transaction, only if you and the buyer agree to that.
 
Snotty said:
OK, that's what I was hoping for. Ghat you describe is what is written in the description of the site itself. What I don't like is the part about the three days to inspect. The guy has already low-balled me; I don't want him to get the car and say, "Hey, I don't like X," and then wants to pay less.
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My understanding was the purchase price is predetermined and this is not to be used as a negotiating tool. The price is the price. That needs to be made clear before the car is shipped. If he thinks you misrepresented the car, he can send it back on his dime.
 
Jeff said:
I suspect that if you use that service you will be able to modify the terms to suit your needs. In other words, there won't be a 3-day inspection period for every transaction, only if you and the buyer agree to that.
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I believe the 3 days is standard but my experience was 15 years ago so I could be mistaken.
 
Escrow.com is not offering this service for free so one question is what are the fees associated with using them? Second question is who pays those fees. Just my 2 cents but forget the check, just have the person spend the $20 fee from their bank to wire transfer the money to you or the actual owner. I'd eat the buyer's wire transfer fee just to know I have the money in my account within 24 hours.
 
Escrow.com gives the buyer confidence the car is as described and everything is disclosed at point of sale which is especially useful when buying sight unseen. In my instance, the seller recommended using the service and as such, offered to pay the fees. If Snotty’s buyer is wanting to use Escrow.com, they should cover the fees.
 
rexus31 said:
Escrow.com gives the buyer confidence the car is as described and everything is disclosed at point of sale which is especially useful when buying sight unseen. In my instance, the seller recommended using the service and as such, offered to pay the fees. If Snotty’s buyer is wanting to use Escrow.com, they should cover the fees.
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Just curious, would you accept escrow.com as a seller? Myself, no way. 3 days to decide? Wow. Great for a buyer, but that has fail all over it for a seller. Another terrible possibility is if the funds are not actually there. So many different ideas on condition & then to involve shipping the car.
 
72Fury said:
Just curious, would you accept escrow.com as a seller? Myself, no way. 3 days to decide? Wow. Great for a buyer, but that has fail all over it for a seller. Another terrible possibility is if the funds are not actually there. So many different ideas on condition & then to involve shipping the car.
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If I thoroughly and accurately described the car, disclosing EVERYTHING in writing with ample pics, I would have no issue using it as a seller. The funds are there as they have to be posted via certified check prior to the seller shipping and cannot be touched by either party until the vehicle arrives. True, the buyer could back out but the cost of shipping is pulled out of the buyers funds to cover return shipping same as it arrived (covered if it arrived covered) so there is skin in the game from a buyer’s perspective. I think it’s good for both parties. The seller knows they have certified funds in escrow and the buyer is covered from dishonest flippers.
 
Snotty said:
Hello Friends. I have received an offer for the Dodge 600 I am selling; the owner accepted the offer. The buyer wants to use a program called Escrow.com. I want him to send a check.

Have any of you ever used this site? Do you trust it? Please let me know, thanks!
Click to expand...

Hello Snotty,

My name is Marcedric and I am an Account Manager at Escrow.com and I would love to assist you with any questions you may have or any transactions that you are looking at starting.
 
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