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Escrow service?

Posted: Wed Dec 15, 2010 8:41 am
by scottw
I am finalizing the selling of a tuba and the subject of payment has led to this post. The buyer is uncomfortable sending the money, then having the tuba shipped when the money is received; I, as the seller, am uncomfortable first sending the tuba across the country and then receiving payment.
It was suggested that there must be some escrow service for this type of thing, but I have absolutely no way of finding something like this. Has anyone encountered this stand-off and found common ground? Your response will be appreciated.
Scottw 8)

Re: Escrow service?

Posted: Wed Dec 15, 2010 9:05 am
by SousaSaver
Work through a broker, like a music store. This helps people feel more comfortable with regards to financial deals and shipping. The store will probably want a percentage for this service, but it might be worth it to provide that bit of comfort.

Re: Escrow service?

Posted: Wed Dec 15, 2010 9:33 am
by slush
I used escrow.com when I bought my sousaphone, and have used it for work for some fairly large purchases as well. They do take a percentage, but it seems reasonable.

Re: Escrow service?

Posted: Wed Dec 15, 2010 9:43 am
by pgym
***** DISCLAIMER: This is NOT a solicitation for business. See my signature. *****

Your bank or lawyer can provide escrow services.

If you go with an online escrow service, stick with one of the big, established firms like escrow.com or safefunds.com AND FOLLOW THEIR PROCEDURES TO THE LETTER.

Alternatively, you could ship the tuba COD (collect on delivery).

Whichever way you go, be sure to factor the cost of the service into the selling price.