PDA

View Full Version : escrow.com


bcampbe7
10-28-2007, 01:52 PM
Has anyone ever used www.escrow.com ?
The buyer for my boat would like to use it to put a deposit down. I have gone to the site and it seems legit but I would like to get some input from those that have used this type of service.

TMCNo1
10-28-2007, 02:19 PM
I really wish I could help ,but I am not aware of it's perfomance and legitamacy.

Uh, using Western Union may remove any doubt!

east tx skier
10-28-2007, 02:36 PM
I did all wire transfers. There was a recent thread on PN about buyers wanting to use escrow. The consensus seemed to be that it wasn't desirable for the seller. If he's coming to pick it up, cash, wire, or money order from your bank would be best I think.

bigmac
10-28-2007, 02:45 PM
If I were going to do it, Escrow.com is the only one I'd use, BUT, I wouldn't use an escrow service unless I were desperate. If the buyer wants some kind of third party protection, I'd have my own bank act as the escrow agent.

Last time I sold a boat (3 years ago), the buyer wanted to use an escrow service. Instead, I had my bank arrange a wire transfer from his bank after he'd looked at the boat, drove it, and agreed to buy it, signed a purchase agreement that clearly spelled out the conditions of the sale. He didn't get the bill of sale nor the title until my bank confirmed the money transfer. Which they did, by phone, in about 10 minutes. I then signed over the title to boat and trailer and gave him a bill of sale. Really slick, and cheaper than an escrow service. I wanted to keep fulfillment of the terms of the sale under my control rather than relying on an escrow company whom I don't know to make that determination. The escrow company works more for him than for you, IMHO. It was my boat, and I wanted control.

Like I said, though, I might be willing to jump through more hoops if I were desperate to sell.

André
10-28-2007, 03:01 PM
Funny.
Escrow (escroc,same pronounciation) in french means someone commiting fraud!!!:D

Leroy
10-28-2007, 03:59 PM
It may mean the same here!

Funny.
Escrow (escroc,same pronounciation) in french means someone commiting fraud!!!:D

bcampbe7
10-28-2007, 04:21 PM
No I am not desperate. He was just going to put some earnest money in the escrow for me to hold the boat for him.

I told him that I would take his word that he is going to buy the boat once he confirms the condition is as I described. Maybe old fashion but I am a man of my word and I hope he is too.

November 12th is the day that he is supposed to come look at/buy the boat.

T Scott
10-28-2007, 04:51 PM
Have him send you a deposit via paypal. That way, you have a deposit, but he can always reverse the charge if he is unhappy with the boat. (not likely)