Escrow for shipped items

I am interested in buying an item from an RFDer who lives in another city. He wants me to send money first using EMT (Email Money Transfer), then he will ship. Obviously this has no risk to him, and I take all the risk.

Is there a better way to colse deals like this, the dreaded Pay/Ship dilemma.

Advice will be really appreciated.

Pay him with EMT but don't give him the password. He will know that you sent the EMT when the email comes but won't be able to deposit it until you give the password when the package arrives. Escrows are expensive usually and many are also scams. If its that much money that you need an escrow, I say buy it somewhere else.

Originally Posted by squall458

Pay him with EMT but don't give him the password. He will know that you sent the EMT when the email comes but won't be able to deposit it until you give the password when the package arrives. Escrows are expensive usually and many are also scams. If its that much money that you need an escrow, I say buy it somewhere else.

and what gurantee does he have that he gets his password.

But just to let you know, I have done $2500 EMT for rfds here from BC. Trust is required from both sides. Does he have any references?

The password sounds like a nice way to do it. The amount is about 1K.
But what if I receive item and never give password? I mean now it is in favour of the buyer, but the seller could be scammed.

The password idea will be great if the buyer cannot reverse/cancel the transfer. But if also he has a chance to verify he received the item as promised. Ahhh, the dreaded online trading.

Any suggestion?

No references on his side. That's why I can;t take risks.
I have a mailing address and a phone #. Not sure if that is any assurance.

Originally Posted by weedb0y

and what gurantee does he have that he gets his password.

But just to let you know, I have done $2500 EMT for rfds here from BC. Trust is required from both sides. Does he have any references?

That's nice for you but its clear that trust is an issue and I was mearly helping out the OP. If the other person he/she was dealing with made a thread, I would make appropriate advice for him/her. Like I said, if the money is quite large, and it is in this case, I would suggest buying it locally/online if you don't feel comfortable.

Originally Posted by bm_attar

No references on his side. That's why I can;t take risks.
I have a mailing address and a phone #. Not sure if that is any assurance.

NO address really means nothing since EMT has nothing to do with address.

My advice, forget this deal and look for something locally. Sometimes, when it looks to good to be true, it often is. Plus $1K is a fair amount of money.

You may spend a few more bucks, but at least you won't get screwed over dealing long distance.

hp

PM me the details of the deal.

If you both agree, you can send me the EMT and he sends the hardware to you. Once you receive the hardware, I send the EMT to the seller.

EDIT: The hardware can also be sent C.O.D.

or u can always do half payments / quarter payments...

1/4: u pay him 1/4 of amount... he ships out
1/2: he gives u tracking number, u give another 1/4
3/4 - 4/4: product arrives... u send him the remainder depending on situation, such as bad product, or w/e...

Originally Posted by TruE SkiLLS

or u can always do half payments / quarter payments...

1/4: u pay him 1/4 of amount... he ships out
1/2: he gives u tracking number, u give another 1/4
3/4 - 4/4: product arrives... u send him the remainder depending on situation, such as bad product, or w/e...

Umm, both are new traders with little or no trading history. You are making assumptions about one being more trustworthy than the other.

Originally Posted by Mark099

PM me the details of the deal.

If you both agree, you can send me the EMT and he sends the hardware to you. Once you receive the hardware, I send the EMT to the seller.

EDIT: The hardware can also be sent C.O.D.

That only works if the buyer is honest about telling you that they did in fact receive the package instead of saying they didn't and asking for their money back. Also even if you have a tracking number what's to stop the seller from shipping a box with rocks inside that has the same weight of the item? What you're suggesting isn't exactly a fool proof method although it will probably deter most scammers since they probably don't want to take a chance of you siding with the other person. All I'm saying is it's not a perfect solution.

I think the best way is to find someone (possibly another RFD trader) you both trust in the buyer's city to act as a middle man/woman for a small fee. They take payment from the buyer, $200 or so of it being non-refundable (unless the item doesn't arrive) to cover shipping and any inconvenience in the event they back out. The seller then ships the item to the trusted person/trader. Then the trusted person/trader and the buyer make the deal at a mutually agreed upon location. Then the trusted person/trader sends an EMT to the seller for the amount of the item. Of course the only problem is finding someone willing to do this that you both trust.

There is also C.O.D. a Canada Post service (like Mark099 mentioned) which you can read more about here:

http://www.postescanada.ca/business/.../collect-e.asp

http://www.canadapost.ca/tools/pg/manual/pgcod-e.asp

The only problem again is if the buyer changes their mind after you've shipped. If they do you will be out the shipping cost. Also you can't check the contents of the box before paying for the package so if the contents aren't as expected you are out the money. Basically the same problems as I mentioned above if they were to deal with Mark099.

Originally Posted by acb82

That only works if the buyer is honest about telling you that they did in fact receive the package instead of saying they didn't and asking for their money back. Also even if you have a tracking number what's to stop the seller from shipping a box with rocks inside that has the same weight of the item? What you're suggesting isn't exactly a fool proof method although it will probably deter most scammers since they probably don't want to take a chance of you siding with the other person. All I'm saying is it's not a perfect solution.

I think the best way is to find someone (possibly another RFD trader) you both trust in the buyer's city to act as a middle man/woman for a small fee. They take payment from the buyer, $200 or so of it being non-refundable (unless the item doesn't arrive) to cover shipping and any inconvenience in the event they back out. The seller then ships the item to the trusted person/trader. Then the trusted person/trader and the buyer make the deal at a mutually agreed upon location. Then the trusted person/trader sends an EMT to the seller for the amount of the item. Of course the only problem is finding someone willing to do this that you both trust.

There is also C.O.D. a Canada Post service (like Mark099 mentioned) which you can read more about here:

http://www.postescanada.ca/business/.../collect-e.asp

http://www.canadapost.ca/tools/pg/manual/pgcod-e.asp

The only problem again is if the buyer changes their mind after you've shipped. If they do you will be out the shipping cost. Also you can't check the contents of the box before paying for the package so if the contents aren't as expected you are out the money. Basically the same problems as I mentioned above if they were to deal with Mark099.

I think you are assuming the worst about all parties involved. This is just a case of two newbies trying to work out a $1500 deal over the Internet.

C.O.D. is not as black and white as that. You can ask to open the package in the presence of a Post Office clerk. If it's a box of rocks, I am sure Canada Post would be willing to hold the payment until they are satisfied that nobody would pay $1500 for it.

People can lie and say they didn't get it, but that can only happen if you didn't pay the extra $1 for tracking.

I have done enough deals to be able to guide newbies through a deal.

no... a lot of shipping companies do not allow opening before the paying of COD... it doesnt matter if its rocks or w/e... u could of just paid off the person shipping to say its "just rocks"

as for my previous method... everything that u do when its far away is about "who trusts more"... if theres a secure way to ship it, there will be ways to break that, just depends what the person does.

and not saying that ur a bad person or nething... but what happens if they both trusted u or another rfd member... and u screw them over? lmfao, saying "pm me detail, u guys can give me money" as the 1st thing on this post isnt exactly the best method to start off a convo with a new person with the buy/sell thing.

Originally Posted by TruE SkiLLS

no... a lot of shipping companies do not allow opening before the paying of COD... it doesnt matter if its rocks or w/e... u could of just paid off the person shipping to say its "just rocks"

as for my previous method... everything that u do when its far away is about "who trusts more"... if theres a secure way to ship it, there will be ways to break that, just depends what the person does.

and not saying that ur a bad person or nething... but what happens if they both trusted u or another rfd member... and u screw them over? lmfao, saying "pm me detail, u guys can give me money" as the 1st thing on this post isnt exactly the best method to start off a convo with a new person with the buy/sell thing.

I didn't say before paying... it's before leaving and before payment is sent to seller.

IF none of the two parties have references, I wouldnt' call a $1K deal as your first deal. It doesn't really make sense to do so.