The Wholesale Forums

[Babybean]

Anotherdumb question but can anybody explain escrow payments to me?

[atxboost]

Buyer and seller agree on terms. the buyer goes to escrow.com and sends a payment for the items under the terms agreed upon. the seller is ntotified to ship the goods. the goods arrive, you inspect according to terms then tell escrow.com to release the funds. they hold the money for you. they wire the money into the sellers account

[matt_16288]

Just a thought........

What happens if the buyer tells escrow that the goods are not satisfactory......Wouldnt the buyer just be able to leg it with the goods

[YNWA]

1. what would be the point as escrow have the money
2. if the buyer rejects the items he has to post the back to the seller and when seller confirms they are back the payment is refunded.
3. if the buyer doesnt notify escrow that the goods r ok or not then there is some sort of procedure were escrow pays the seller as the goods are deamed to be in good order

[matt_16288]

Got it now!