I am selling a car on ebay and a bidder has asked to use an escrow service. I recall for a while there was a good bit of scamming going on with this type of service. Do you have any pointers, tips or red flags I should be aware of?

Thanks for the help.

 

I wouldn't do it...... he can probably tell the Escrow place to just not pay you and that the car is not in the condition described. Make the buyer show up at your door with $ and you swap $ for title and car.

Or.... if you have a decent relationship with your bank, use them as a 3rd party to receive the funds and they will fed-ex the signed title to the new owner.... i have done this a few times.....

the most $ I have sent to a seller is about $6500..... anything beyond that I will insist on a 3rd party getting involved in some manner.

 

Thanks Scot. I can't see me releasing the car without money in hand.

I think it is fair for him to inspect the car here, then release the funds.

BTW, you are six-years-old in just a few days.

 

[QUOTE=Nin009,Sep 28 2006, 04:54 PM] Thanks Scot.

 

It's over in about 10 minutes. He has bid a few times and asked the most questions. With a no reserve auction, I expect a flurry of penny bids in the last few seconds.

 

i see he is from South Carolina......he has good feedback, so hopefully it is a smooth transaction for you both.

I hate when a (0) bidder hops in at the last second and F's up everything.

 

no flurry.

 

Yeah, no flurry, but I got a comfortable price. I wouldn't know what to do with those pennies anyway.

This is the guy who wants to use the escrow service. He seemed a little nervous through the bidding process. I wonder if he asked his wife if he could buy a new car.