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As people begin to conduct more
high-priced transactions online, we have noticed
that the demand for 'escrow' services is growing.
If you are buying or selling an automobile with
a stranger, you should consider ensuring the
transaction by using an escrow service. These
companies charge a percentage of the transaction
to serve as a middleman between the buyer and
seller ensuring that neither gets burned.
We have found that sellers are
typically not as willing as buyers are to use
these services, the stumbling block usually comes
over who will pay to transport the vehicle. We
suggest the buyer pays, frankly it's the only
way most sellers will even consider it. For you
the buyer worse case scenario, you eat the cost
of transportation - perhaps as much as $3000
(delivered and returned). Yes, it's a lot of
money, but it's a lot less than getting stuck
with a $20,000 car that turns out to only be
worth $14,000! Admittedly, on cars with values
of less than $15,000 you might want to take your
chances, but anything over that and 'Escrow Services'
can really makes sense.
In short, here is how they work:
The buyer mails the payment to the escrow service,
which verifies the payment, then alerts the seller
when everything checks out. At that point, the
seller ships the car to the buyer (at the buyers
expense). After an agreed-upon inspection period
(typically 2 days after the buyer receives the
merchandise), the buyer notifies the service,
which prints the check and sends it to the seller.
In our continuing effort to bring
you everything you need to buy a Classic or Specialty
car from America, we believe that these services
can only help to decrease the possibility of
fraud and misrepresentation when conducting long
distance purchases over the Internet.
Escrow
1221 E. Dyer Rd. Suite 295
Santa Ana, CA 92705 USA
Tel: 877 372 7694
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Escrow Guardian
3748 W Edgewood
Springfield, MO 65804
Tel: 1 877 5 ESCROW
Tel: 417 766 0347
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i-Escrow
2600 Bridge Parkway
Suite 201
Redwood Shores, CA 94065 USA
Fax: 650 413 1355
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SafeBuyer
P.O. Box 1482
McMurray, PA 15317 USA
Tel: 800 897 9770
Fax: 724 942 8296
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Fortis Escrow
Coolsingel 75
3012 AD Rotterdam
Postbus 1898
3000 BW Rotterdam
Tel: +31 10 4015856
Fax: +31 10 4016225
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