Making a large purchase or sale that includes shipping can be a scary thing. What if the seller doesn’t provide the item? What if the buyer doesn’t pay for the item? Who should go first?
The answer is: NEITHER. The smartest way to make a large transaction that involves shipping, online or otherwise, is to use an escrow agent.
When an escrow agent is used, both the buyer and seller agree to terms. These terms should include a description of what is being purchased, the purchase price, and the estimated time of delivery.
After the terms have been agreed to, the buyer will deposit the money into the escrow account. Once it is confirmed the money is in the account, the seller will be notified to ship the item. Once the buyer accepts the item, the seller will receive the money that is in the escrow account.
If anything goes wrong along the way, the third-party escrow agent will be able to mediate the situation before it blows up into a civil litigation matter that could cost both parties thousands of dollars.
If you are interested in using or learning more about our escrow services, Boyer Law Firm, PL, can help. For example, we recently helped a client purchase a collectible car through the escrow process. We escrowed the funds in addition to sending a mechanic to physically inspect the car before our client purchased it.
Our escrow services can help you with purchases of:
– Used cars
– New cars
– Used Machinery
– Used road equipment
– Spare parts
– And much more…
Don’t make a large purchase without considering an escrow agent first. We have seen too many people fall victim to fraud, scams, and receiving no or undesirable merchandise.