Almost anything can be covered using an escrow service. From expensive boats, bulk merchandise, wedding dresses, antiques, the possibilities are endless with escrow.
Buyers and sellers who use an escrow service enjoy the reduction the risk by engaging an escrow service that protects their transactions and funds throughout the buying and selling process.
If you are looking to buy or sell expensive goods or services online, engaging a third party to protect you from fraud and misconduct provides the confidence you need to transact with people all over the world without fear of losing your funds to scams.
Buying and selling with Escrow.com is simple.
Let’s walk you through the process step-by-step:
- It is listed for sale
- Buyer and seller agree to terms and agree to the sale
- The details of the transaction are added to escrow service using buyers and sellers contact details including email and phone
- Buyer sends the payment to the escrow service which is held in trust
- The escrow service holds the funds and protects the payment while shipping is taking place and buyer is waiting to receive the goods
- Buyer accepts merchandise and confirms they are happy with the purchase
- Escrow.com pays the seller, and the transaction side of things is complete
How does the cash escrow work?
Cash escrow is a financial arrangement whereby money is held by the escrow service while all the terms are being met. Cash escrow can be commonly used in real estate transactions as a way to create a security that is held by a trusted third party under outlined conditions.
Cash escrow is useful when buyers and sellers need to abide by certain conditions for the sale to go ahead, in the case of real estate this may be building and pest inspections and other checks on the property title. The beauty of cash escrow lies in the fact that should one or more of the elements of the agreement not be met, the transaction is cancelled.
What are the benefits of cash escrow?
Buyers and sellers can enjoy the benefits of security and protection during the buying and selling of goods, services and property. Cash escrow connects both buyer and seller with a third party and incorporates a neutral ‘middle man’ to manage the transaction, ensuring it is secure and appropriately set up.
In additional to real estate, cash escrow services can be used for eCommerce and in the legal industry to reimburse monetary damages when required.
Escrow.com puts the power back in the buyers and sellers hands, using a simple, safe and secure online system. No matter what you’re looking to buy or sell, using Escrow.com shields buyers and sellers of large and expensive times from fraud and protects your funds when buying and selling online.
Protect yourself from fraud and ensure your cash transaction is managed by a third party that is governed and regularly audited by using a safe and secure escrow service.