Pre Loader

Escrow Procedure

ESCROW PROCEDURE

If you are a Seller or a Buyer and you want to sell or buy a vehicle, after analyzing your case we will present our offer, the transaction takes place like below.

Complete escrow and shipping service in 4 easy steps:

1. Buyer and Seller agree to terms

Either the Buyer or Seller begins a transaction. The buyer releases personal information under GDPR such as name, address, phone number so that the seller can proceed with shipping formalities. The item sent will be fully released to us in terms of sale based on a release contract.
We conduct a full pre-buy inspection of the vehicle at one of our partner services. Both buyer and seller are informed about the inspection result.

2. Escrow deposit and Shipping

We will provide a VEHICLE INSPECTION REPORT and upon verification, if the Buyer will agree to proceed with the transaction, we will forward the SALE CONTRACT AGREEMENT. As soon as we will have the SALE CONTRACT AGREEMENT signed by both, Seller and Buyer, we will assign an agent to the transaction and we will provide the payment details.The Buyer must transfer the funds to the bank details provided by us, for depositing into the escrow account.

3. Receiving the Vehicle

Once funds are cleared we start the shipping process and we will provide a tracking number. All parts of the transaction will be able to track the delivery of the vehicle online, on our website. We have our own shipping company so the delays are minimal.The Buyer receives the vehicle and after 5 days inspection period, he gives his final acceptance on the transaction.

The Buyer takes the vehicle and all necessary papers are completed. Our company takes full responsibility for the inspection results so if the vehicle is not as it was described then you can refuse the transaction and get a refund of your money.

4. Releasing the payment to the Seller

If all terms of the agreement have been met, the funds from the escrow account are transferred to the Seller and will receive the amount transferred by the Buyer from which we will deduct the fees for the services provided during the transaction.

Why is this good?
Because every time you want to sell something online and you lack the time for the selling process, our company follow-up updates will let you know exactly where you are in the transaction process and if there is any action required by you. Having access to this step-by-step timeline means, whether you’re a Buyer or a Seller, you’ll never get stuck wondering what to do next or where you are in the transaction.

Does PayPal work for you?
Unfortunately, NO. Escrow process is not like a regular buying process and because the transaction is not final until the 5 days inspection period is over, is against the European Laws and makes us unable to accept payment deposits through PayPal services for escrow transactions.