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

bernie

New Member
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
 

John Butto

New Member
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.
 

Gino

Premium Subscriber
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:
 

ddarlak

Go Bills!
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............

huh??
 

Gino

Premium Subscriber
I think gino thought he was trying to borrow money to buy..

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.
 

HulkSmash

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

GB2

Old Member
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.
 
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