Escrow?

[cortex]

Hi guys...Im selling a few home electronic bits worth quite a lot of dosh, im def not accepting paypal.

a few people have asked if i will accept escrow.im not 100% certain how it works but my concern is..what if the customer receives the speakers/TV and decides to just keep it without paying me, or what if he says "i didnt receieve a new TV n speakers but i got a load of bricks and im not paying anyone anything"?? or he could say "i receieved the wrong TV" etc ettc...i dont wanna get scammed basically, so how can i avoid all this??

he might not even post it back if he doesnt want it, and he'll get his money back i guess..

any help guys n gals?...

[GreenBean]

escrow works well. Unless the buyer is fully satisfied with the goods, your money does not go to them. Escrow agent is a neutral third party well used to this way of business. Below is something from ebay.co.uk. Read it carefully. Used correctly, it is seldom problematic. I use these services at least 10 times a year to sell and to buy. When you move into real estate, you'll use escrow services

What is Escrow?
Money held in trust by a third party until the seller sends the item to the buyer.

Why use Escrow?
An escrow service can help ensure a safe transaction between the buyer and seller, especially when a large sum is changing hands. An escrow service acts as a neutral third party in a transaction, collecting payment for the item from the buyer until the seller sends the item to the buyer. Once the buyer accepts the item, the escrow service forwards the payment to the seller.

How it Works: 5 Easy Steps
Conducting an escrow transaction is simple - there are just five easy steps.

Step 1:
The buyer and seller agree to use escrow for the transaction, and agree terms and details of the transaction.
Step 2:
The buyer sends payment to agreed escrow service. Payment is verified and deposited into a trust account.
Step 3:
The escrow site will notify the seller that it has received the money and directs the seller to ship the goods to the buyer.
Step 4:
The buyer receives, inspects and approves the goods and notifies the escrow site that all is OK.
Step 5:
The escrow site forwards the funds to the seller after all conditions of the transaction are met.


Escrow Services
eBay recommends the use of escrow for purchases over £250 but it can be used for any purchase.

Note: eBay recommends the use of Escrow.com

If a seller suggests using a different escrow company, please use caution. If you choose to use another escrow company please make sure the company is well established, fully licensed and accredited to secure the safety of your transaction.

Other recommended escrow companies for other eBay sites are listed below:

* Escrow.com http://www.escrow.com/
(recommended for users of eBay - New & used electronics, cars, apparel, collectibles, sporting goods & more at low prices and eBay - Deals on new and used electronics, clothing, collectables and more on eBay)
* TradeSecure http://www.tradesecure.com.au/ebay/
(recommended for users of eBay Australia - Buy or sell practically anything on eBay, the world's online marketplace)
* iloxx SafeTrade http://www.iloxx.de/ebay/
(recommended for users of eBay: Neue und gebrauchte Elektronikartikel, Autos, Kleidung, Sammlerstücke, Sportartikel und mehr – alles zu günstigen Preisen)
* Escrow Europa - Escrow! -
(recommended for users of eBay.it - Shopping online e Annunci gratuiti nella tua città and eBay.es: El mayor portal de Clasificados, CompraVenta y Subastas)

Please note, all the above escrow providers are independent of eBay and their escrow services will be provided under separate terms and conditions.

If you have any questions, please contact customer support.

[cortex]

Im sure somethign could go wrong between steps 3 and 4.
The buyer could say they received something else.
Also when they ship it back to me...how does escrow know they posted back the electronic goods to me and not posted me some old books or something?

would be better is escrow checked the package but they prob wont do this will they.

[captainjack1980]

If you want to be really safe state collection only. Then you get cash and both are parties are happy....

CaptainJack

[cortex]

yeh thats one option...but i dont have the time for that.
so i guess escrow is no different to just posting the item out via paypal.

[captainjack1980]

The buyer comes and picks it up after auction end, at a time of arrangement.

Saves on postage, payment fees and and risk of fraud. Quite a popular option for buyers and sellers of larger items.

CaptainJack

[cortex]

^^ edited my last post