If escrow of transaction funds is utilized, then it stands to reason that the full purchase amount ultimately due to the seller will be tucked safely away into a (hopefully completely independent) escrow account before the final completion of ownership transfer.
"Escrow" can be a less than meaningful word in some eBay transactions if / when the seller and the "escrow agent" are essentially the very same people, merely wearing different hats for different parts of the transaction. That's the beauty (and safety) of using a completely independent closing entity that has no hidden, undisclosed "allegiance" to the seller. Unfortunately, selecting an independent "closer" is often not even an option in many eBay mega-seller transactions.
P.S. LT Transfers, subject of this thread, utilizes a local attorney for escrow of funds. Ironically, the one and only time I've ever had any problem with a closing handled by LT Transfers was certainly not with the very nice and competent ladies there, but with the less than fully attentive math of the escrow attorney. However, the error ($300 or $500 --- and not in my favor) was quickly resolved without fanfare after I pointed out the mistake.
"Escrow" can be a less than meaningful word in some eBay transactions if / when the seller and the "escrow agent" are essentially the very same people, merely wearing different hats for different parts of the transaction. That's the beauty (and safety) of using a completely independent closing entity that has no hidden, undisclosed "allegiance" to the seller. Unfortunately, selecting an independent "closer" is often not even an option in many eBay mega-seller transactions.
P.S. LT Transfers, subject of this thread, utilizes a local attorney for escrow of funds. Ironically, the one and only time I've ever had any problem with a closing handled by LT Transfers was certainly not with the very nice and competent ladies there, but with the less than fully attentive math of the escrow attorney. However, the error ($300 or $500 --- and not in my favor) was quickly resolved without fanfare after I pointed out the mistake.
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