June 8, 2007, Newsletter Issue #90: Escrow

Tip of the Week

Escrow is a service offered by a third party at an auction in order to assure the quality of the transaction. Escrow services create security by acting as a middle man. After a sale is completed, the seller gives the goods in question to the escrow service. The buyer then gives the money to the escrow service. When both parties are satisfied by the goods and payment, the escrow services releases the money and the goods to complete the transition.

The escrow service makes money by charging a certain percentage of the seller. Escrow services are often used when expensive items are being sold at auction. If you choose to use an escrow service, be very careful to check their reliability.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Auction Tip Site? Request a Tip Now!

Guru Spotlight
Kristle Jones