Escrow for Cars?|
Escrow for Cars is the premier online escrow service on the internet.
Escrow for Cars enables two parties to engage in a sale without risk. Any
time money exchanges hands for a buy-sell transaction, funds can be
escrowed. Whether it's an online purchase or sale of such valuable items as
classic cars, antiques, art, jewelry and watches or a home improvement
project, users can safely place money in an
online escrow account. Since the funds are held in escrow, neither
party has complete control without cooperation of the other. This
condition contributes to both parties to participate in good faith.
The funds are disbursed only when all parties to the escrow agree
that their terms have been met.
||Why should I use
Escrow for Cars?
Whether you are the buyer, seller, you want the assurance that no funds will
change hands until ALL of the instructions in the transaction have
been followed. The escrow holder has the obligation to safeguard the
funds while they are in the possession of the escrow holder, and to
disburse funds when all provisions of the escrow have been complied
Escrow for Cars protects both the Buyer and Seller in a sale, because
payment is not released until the item has been received. The entire
process is secure and essential to anyone who regularly participates
in online trade such as eBay users.
Why Use A Licensed Escrow Company?
For doing business with California
businesses or consumers,
Licensed escrow companies are regulated by the California Department of Corporations and are subject to the provisions of the Escrow Law (Division 6 of the California financial code(FC)) and the Escrow Regulations (title 10, Chapter 3, Subchapter 9 of the California code of Regulation (CCR)). Included in these regulations are the requirements to; 1. Safeguard trust accounts by carrying up to $5 million in fidelity bonding issued by the non-profit Escrow Agents Fidelity Corporation. 2. Are required to have an onsite manager with a minimum of five years responsible escrow service. 3. Are subject to unannounced regulatory comprehensive audits. 4. Are required to have fingerprint and background checks done by the Department of Justice on all employees.
Your best security comes from using an independent escrow company who�s sole business is escrow.
Title companies are licensed by the California Department of Insurance. They provide escrow services under an exemption from the escrow law. Title company escrow services are performed as an add-on service to their core business and are not regulated.
Real estate brokers are licensed by the California Department of Real Estate and are able to process escrows on transactions wherein they are the agent of record for the buyer or seller. Real estate brokers provide escrow services under an exemption from the escrow law. Escrow services are performed as an add-on service to their core business and are not regulated.
Attorneys in California can also provide escrow services for their clients under an exemption from the escrow law. However, they may not advertise escrow service as a sideline business.
||When to use Escrow for Cars?
Consider using an online escrow for any item worth
over $500. You should use an online
escrow whenever you want the confidence that the transaction will be
completed according to buyer and seller instructions. In addition,
you should weigh the cost of the service against the value of the
item, and your own peace of mind. The math alone speaks for this
since the fee is a small percentage of the total cost. For less expensive items, the cost of the service may not be worth the expense.
Cars, Boats, Motorcycles:
Consider using an escrow service whenever your purchase a online a
car, boat, or motorcycle. Not only do you want to circumvent fraud,
but you also want to ensure that the vehicle is in fact as described.
Domain Name Transfers: No domain name should be transferred without an escrow service. Before releasing payment to the seller, an online escrow service will verify that the domain registrant information now reflects the buyer. If the registrant information does not do that, the service should ask the buyer to confirm control of the domain before releasing money to seller. If such transfer does not take place, the buyer can request the transaction to be cancelled and his money returned from the escrow company.
Art and Jewelry: From the standpoint of being high-ticket items, no art or jewelry should be sold online without the safety net of a licensed online escrow service.
Short Term Projects and Services:
No one feels comfortable giving hundreds or
thousands of dollars `upfront` to a service provider. It can be an
unsettling experience leaving you with an uneasy feeling. With our
Escrow Services, you won't have to worry about never seeing the
contractor or your money again. Your money is safely deposited into
a Trust Escrow account with Bank of America. Bank of America is one
of the top 10 commercial banks in the United States, so you know
your money is secure. Whenever a service is purchased online, there is always the question of whether or not the service performed met the buyer�s expectations or requirements. An escrow service can hold all funds in abeyance until both parties have agreed that the service has been performed satisfactorily.
Used Equipment: Used equipment normally never come with intact manufacturer warranties, and may or may not meet seller expectation or requirements. In such instances, for the sake of both buyer and seller, an escrow service should hold all funds until the equipment has been inspected and accepted by buyer.
The bottom line�and one of those very valuable, though intangible, products a good escrow service provides�is
peace of mind. Using a trusted third-party service, you do not have to worry about fraud, about missing pieces to the equipment purchased, or that there might be something wrong with the automobile title.
||What does escrow cost?
Escrow fees are based on a percentage of the escrowed amount and
paid at the time of the funds deposit. Please view the Escrow for Cars fee schedule here.
What is the
Escrow for Cars cannot refund escrow fees, disbursement fees or other bank charges. Credit
Card, wire transfer, ACH or other Banking fees paid to any financial
institution outside of
Escrow for Cars
cannot be refunded. If you have questions on our refund
policy, please login
to your account to access the 24-Hour Support Desk.
||What payment types are
Escrow for Cars only accepts PayPal payments from the Buyer. Sellers,
however, have several choices for receiving payment. See the
fees page for details.
||How do I start a new escrow
Simply login to your account and follow the instructions from
the home page. You will need the name, email, and address of the
other party in your transaction.
||Who can start a
Either the Seller or Buyer may start a transaction.
||Who pays the fees?
The Buyer submits the fee along with the payment.
||What happens next?
After submitting a new transaction, both parties will receive a
confirmation email with further instructions and access to their
||How long does the process
After Escrow for Cars has received payment from the Buyer, the Seller has
a maximum of 10 business days to ship the item or payment will be
refunded to the Buyer less processing fees.