How does escrow work? I want to sell something for $xxxx and i dont want to be scammed. So is escrow the best choice? Say i am selling a website, do i have to transfer the domain, website everything first? and then i get paid? I want to be paid in Paypal is that possible? Please explain the process, Thanks
How does it work? 1. Buyer and Seller Agree to Terms Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, and any shipping information. 2. Buyer Pays Escrow.com The Buyer submits an available payment option. Escrow.com verifies the payment. Processing time varies by payment method. 3. Seller Ships Merchandise Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow.com verifies that the Buyer receives the shipment. 4. Buyer Accepts the Merchandise The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise. For more information, FAQs - Return Questions. 5. Escrow.com Pays the Seller Escrow.com pays the Seller by the method selected by the Seller. The transaction is complete. What are the benefits? Escrow.com, an accredited escrow company, acts as a secure third party to protect the Buyer and Seller. How Buyers are protected: * Escrow.com tracks the shipped merchandise and verifies it was delivered. * The Seller isn't paid until the Buyer accepts the merchandise, or the inspection period expires. How Sellers are protected: * Escrow.com confirms when the Buyer receives merchandise. * The Seller is authorized to ship only after Escrow.com verifies good funds. https://www.escrow.com/solutions/escrow/process.asp
i know someone who recently sold a site and received payment in paypal, he told me that u got so make all docs - invoices etc plus u got to make that person sign a legal contract that he wont do a chargeback of his payment.. so better consult someone who know the cyber laws well, he would be able to guide u further. an alternative could be ask him to pay in E-gold or moneybookers, as those payments can not b reversed ...
The procedure is not very fast but using a reputable company like escrow.com you're sure you get what you paid for without any hassle.
The person send the money to ESCROW through Paypal, and then ESCROW sends me? So he cant charge back me? As ESCROW sent me the money and not the buyer himself? Please explain this to me.
Buyer sends the payment to escrow. Funds are being deposited into their safe account. Upon goods receipt and acceptance by the buyer escrow sends the payment to the seller by the method he desires. That's about it.