Do you shop on Ebay? Do you need to protect a high-cost Ebay transaction but don’t know what to do?
So, to begin with… what is Escrow?
Simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event.
The Escrow site is a licensed escrow company regulated by the government complying with the Escrow Law. This company is useful to crafters who make important purchases online as it is recommended by many of the top Internet commerce sites, such us Ebay.
How can escrow.com protect the buyer and seller?
Escrow.com acts as payment mediators. When the buyer pays, escrow notifies the seller; once the item is delivered, the buyer needs to notify escrow that all is well and the funds are released to the seller. In this way, both buyer and seller enjoy an increase in the measure of protection that they enjoy—the seller knows that the funds are both available and good, and the buyer knows that the seller won’t actually receive any money until a satisfactory item has been received.
To get started, go to Escrow.com and register. Once you have registered, you can start a transaction immediately. Select New Transaction after you have signed in to Escrow.com.
If you want to sell your stuff, it would be great to get a few tips on how to sell your crafts on Ebay before your proceed with Escrow.com.
Keep In Mind
Buyer and seller must first agree to use the escrow service before completing a transaction, which means both of you should visit escrow.com, create a new account there if necessary, and create a new transaction for the auction in question by following the given prompts.
Both of you need to answer a few questions, including who will pay for shipping, how much time the buyer has to inspect the goods, and who will pay for escrow fees. You should clarify everything with your transaction partner as both of you must enter the same information for the new transaction to be created and for payment to then occur. More information about this process can also be found on eBay’s using escrow services page.
So, what are your thoughts of escrow? Do you have any ways in protecting your high-cost transactions? Please share it with us.