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Can anyone recommend a way to do escrow for a purchase in a far off state?

Discussion in 'General Chit-Chat' started by Gene@mpls, Jun 8, 2013.

  1. Gene@mpls

    Gene@mpls Very Active Member

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    Not a huge amount but still several thousand. Thanks Gene
     
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  2. bikecomedy

    bikecomedy Member

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    Funny this topic just came up and the leasing agent said they had never heard of anyone asking for it in ten years. Ha! I Googled it and it looks like some banks offer this service. The first one that came up First Interstate Escrow Services. Good luck, smart move.
     
  3. bernie

    bernie Member

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    Escrow to me means "real estate" so ...
    if you are purchasing a property: actually it is pretty easy, call the chamber of commence in the area you are purchasing, ask them for a recommendation
    of an escrow company or call the title company in that area and ask. Most title companies have escrow departments. On the west coast anyway. East coast I think they handle escrow differently.

    Bernie
     
  4. Gene@mpls

    Gene@mpls Very Active Member

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    Not real estate- a cnc router actually. Thanks Gene
     
  5. particleman

    particleman Member

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    I've used escrow.com several times with success.
     
  6. John Butto

    John Butto Very Active Member

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    If you use a bank like Bank of America, which is pretty wide spread throughout the states. They might be able to help you with holding the money in escrow until you get your cnc and make sure everything is on the up and up. I have done that with overseas purchases.
     
  7. Gino

    Gino Premium Subscriber

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    If you want to buy the machine at a later date and put the money away as a savings account/layaway kinda thing.... why not just take out a loan and at least have the equipment in-house and be able to start using it while you are paying on it ??

    Waiting until you can afford something, might come back to bite ya in the butt. Technology will change, prices will continue to go up and you still don't have anything for a year or two. By taking out an equipment loan you can dive in immediately and at least get the use of it and start making money instantly.

    Just a thought............ :wink:
     
  8. ddarlak

    ddarlak Trump Hater

    huh??
     
  9. Gino

    Gino Premium Subscriber

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    What don't you understand ??
     
  10. fixtureman

    fixtureman Member

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    What don't you understand? He wants to buy a machine that is a long way away and not get burned sending money for it.
     
  11. HulkSmash

    HulkSmash Major Contributor

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    I think gino thought he was trying to borrow money to buy..
     
  12. Gino

    Gino Premium Subscriber

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    I did. I never heard of putting money into an escrow account for something like this. I see now that he wants to be sure he gets what he says he's getting.

    I would imagine, if you really wanted to be sure..... fly/drive out to the machine and make a complete inspection of the unit and see it working in person with some of your own files before handing over the money. Then give half and leave the other half with a post-marked date for when it arrives home. Once you know it fully works, it would be on you to make sure it works in full on your end.

    Sorry ddarlak.... it didn't appear that way to me.
     
  13. ddarlak

    ddarlak Trump Hater

    no apology necessary, i didn't understand where you where coming from...















    as usual....:ROFLMAO:
     
  14. HulkSmash

    HulkSmash Major Contributor

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    I agree with gino, Do a site visit before making the purchase, unless it's from someone you absolutely trust.
     
  15. GB2

    GB2 Very Active Member

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    I'm sure that if you contacted your local attorney he could handle that for you in the best possible manner for a minor cost.
     
  16. CheapVehicleWrap

    CheapVehicleWrap Very Active Member

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    Escrow.com is what you want.
     
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