Private party car sale using escrow agent?

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salukixr4ti
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Private party car sale using escrow agent?

Post by salukixr4ti » Sat Apr 07, 2018 5:17 pm

Would value any and all recommendations for escrow agent for a domestic sale (Continental U.S.). I am selling the vehicle, and need to have an option to offer the buyer to protect both parties.

Thanks,

Christophe
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merkurdriver
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Re: Private party car sale using escrow agent?

Post by merkurdriver » Sun Apr 08, 2018 2:43 pm

Watching to see the responses you get as I have often wondered myself about doing this.

Ed Lijewski
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Re: Private party car sale using escrow agent?

Post by Ed Lijewski » Sun Apr 08, 2018 4:06 pm

Any lawyer can do that: shop for a reasonable fee for that service. Writing up the details (the contract in essence) might result in higher fee than you're hoping for, unfortunately

[Merchant banks do that kind of service:l: search Letter of Credit. i doubt they's be interested in your situation though.]

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merkurdriver
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Re: Private party car sale using escrow agent?

Post by merkurdriver » Mon Apr 09, 2018 2:13 pm

https://www.escrow.com/cars

Vehicle Amount / Escrow Fee
$0-$5,000 / 3.25% ($10.00 minimum)
$5,000.01-$25,000 / $162.50 + 0.26% of amount over $5,000
over $25,000 / 0.89%

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salukixr4ti
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Re: Private party car sale using escrow agent?

Post by salukixr4ti » Mon Apr 09, 2018 4:55 pm

That is the outfit that the buyer proposed too. Would love to know if anyone here has used them.
This ain't no disco...It's Wichita.

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Re: Private party car sale using escrow agent?

Post by zxr250cc » Thu May 03, 2018 5:30 pm

Hi all,

I have had a transaction for high end audio gear that was done as an escrow sale. I used my local banker to control the deal. If you have a good relationship with your bank that might be a choice.

Cheers.
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