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Escrow Process PDF Print E-mail
lookforstuff | Wednesday, 21 April 2010 04:56
Article Index
Escrow Process
Buyer and Seller Agree to Terms
Buyer Funds The Escrow Account
Seller Ships Merchandise
Buyer Accepts the Merchandise
Escrow Agent Pays the Seller
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ESCROW

JP Morgan Chase Bank - New York

Safe / Secure Attorney Escrow available at no cost

Guiding Buyers and Sellers Safely Through the Online Escrow Process

 

How does it work?
  1. Buyer and Seller Agree to Terms
    Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer's inspection, and any shipping information.

  2. Buyer Funds The Escrow Account
    The Buyer submits an available payment option. Both parties verifies the payment. Processing time varies by payment method.

  3. Seller Ships Merchandise
    Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow Agent verifies that the Buyer receives the shipment.

  4. Buyer Accepts the Merchandise
    The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise.

  5. Escrow Agent Pays the Seller
    Escrow Agent pays the Seller by the method selected by the Seller. The transaction is complete.
What are the benefits?

How Buyers are protected:

  • Escrow Agent tracks the shipped merchandise and verifies it was delivered.
  • The Seller isn't paid until the Buyer accepts the merchandise, or the inspection period expires.

How Sellers are protected:

  • Escrow Agent confirms when the Buyer receives merchandise.
  • The Seller is authorized to ship only after escrow agent verifies good funds.

 

Questions?
Contact:
Jack  Courtney  II,  J.D., LL.M
Attorney at Law
New York
1 800 763 6807 EXT #3





Last Updated on Thursday, 15 July 2010 20:35
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