Anyone use an escrow service to sell a car out of state?

I'm working with a buyer who's interested in my Dart - he lives out of state - so in order to provide us both with some protection, we're using escrow.com - he sent me the confirmation link this morning to 'agree' to the terms of the purchase - showing our agreed upon purchase price, but one thing that stood out to me, is that it appears as if he put a "3 day inspection period" in the terms.. is that normal? I was expecting that funds would be released to me once it's loaded on the transport vehicle and I hand over the title and keys to them.

Again - buyer is out of state, and is buying the vehicle based on the description I've posted along with photos/videos I've sent him. I'm not particularly comfortable with him being able to have the vehicle for 3 days before funds are released to me - but this is my first time using a service like this - so I'm not sure what standard practice is.

Thanks!

For some reason, I read the thread title as "anyone use an escort service to sell a car..."

Only cars I ever bought out of state: 1) the guy drove it to St. Louis from Chicago, I looked it over and drove it, we did the paperwork (cashier's check) and he flew back. 2) I drove to Minneapolis for the '72 Dart rolling shell, and towed it home on a U-Haul dolly.

The ultimate protection for him is to fly out and look it over. I am assuming he is bearing the cost of the escrow?
In the event he doesn't like it who bears to cost to return it?

yes, he's covering the cost of escrow ($200) .. I do like the idea of adding verbiage to the terms that he is responsible for paying return transportation in the event he doesn't want to keep the car, as well as giving me some time to inspect it upon return to ensure everything is ok with it if/when it comes back to me. I'm still not crazy about 3 days though.. is that normal?

I looked at using escrow.com last year. I was going to pay for it. What sank the deal was the seller didn’t have the car in his name. No escrow company will get involved with that, and I’m certain auction houses won’t either.

My understanding was the terms are what the two parties set them as. I was willing for funds to be released once the car was picked up by my carrier.

I wouldn’t go for this deal. Three days is waaaaay to long to be in limbo, parts can disappear, wreck, blown engine, etc. anything could happen and he can send it back.

At most id allow an inspection on the truck, he’ll have to pay for them to sit there, if that would even be allowed, plus the return freight immediately so you aren’t stuck with the bill. You should consider some nonrefundable money for all this mess, enough for your time and you need to find out what a return would cost in case he balks at paying it to the company as it’s leaving to come back.

I had high confidence in what I was buying. I spoke to the original owner of the car, knew it from when he sold it. Ended up talking to a local that had viewed the car and was aware of the one specific issue he found that I already knew about so I was ok with what I was getting. So I was willing to release funds once the car was rolling. Doesn’t sound like you are in a deal like that so tread lightly.

The buyers version sounds like a scam.

I sold a car to Virginia when I was still in Alaska.

I had asked my credit union about it ahead of time, so I would know how to proceed when it sold.

I set up an escrow account with my CU when a serious buyer contacted me & had then sent a deposit.

I sent him the routing number for my escrow account.

He wired the money.

Once received, I waited 10 days for any financial hiccups. (The buyer knew this was the way it would be, agreed to before sale.)

No issues, so 10 days later I transferred it to my regular account. I then closed the escrow account and shipped the car. Signed title was mailed to him via USPS Express.

All of that was recommended by my CU.


General rule of thumb - no money in hand - NO sale.

How long will the vehicle be on the transporter? 3 days from the time he receives the car or 3 days from the time the transporter picks it up?

I would never consider this. Ba careful. Cash or wire then you get the car. Sold as is. Where is. Come and inspect it in person preferred.

NO NO NO.......Buyer pays before shipping or buyer flies out or buyer pays for inspection, then payment, then release.

Never Never let your car go before full payment.

Did I mention NEVER!

Cash and carry.... If the buyer has reservations then they need to get off their butt and look at the car in person. Anything else is letting them have an excuse to screw you.

I sold a turbo dodge a few years ago. Buyer was out of state and wanted to use escrow.com. I agreed to it without the 3 day inspection period. Funds were released upon delivery. He paid for the service. Deal went off without a hitch. I would not agree to the inspection period.

Lots of fraud in the escrow biz. More so by sellers but not impossible for a seller to be scammed.

I don't know anything about escrow.com but the fact it is a dot com wouldn't give me a warm fuzzy feeling.

I would be looking at a local escrow company/lawyer to hold the funds under the condition they are irrevocably released as soon as the car is in the custody of his transporter, either at their office or they attend at point of loading. No arguing the car was shipped, no arguing you got paid.

Kevin

Run away!