Escrow Agreement
We take pride in our association with reputable banks such as Chase, Bank of America & Wells Fargo. These partnerships provide reliable escrow accounts for our orders, ensuring that all funds are safely secured.
The primary benefit of using our escrow service is security for both parties. For buyers, escrow ensures that their money is safe until the transaction is complete. For sellers, it ensures payment before delivery. This reduces fraud and prevents disputes.
1. Sales Process & Agreement
The escrow transaction process begins once both parties agree on the price. The buyer sends the agreed amount to our escrow account. The funds are held in the escrow account during the inspection period. If the buyer approves the vehicle, funds are released to the seller. If rejected, funds are returned to the buyer.
2. Payment Terms
We accept payments via Wire Transfer to our secured Escrow Account. Full payment must be initiated within 48 hours of receiving the purchase invoice. Our financial department verifies the payment within 24 hours.
3. Shipping & Delivery
Once funds are secured in escrow, our shipping company arranges for item delivery. The 10-Day inspection period begins once the item is delivered to the Buyer's shipping address.
4. Inspection & Acceptance
The Buyer has 10 days to inspect the item and the option to accept or reject it. It is the Buyer’s responsibility to inspect the item and make their own assessment. If the Buyer is not satisfied, they must notify our department immediately. If a resolution cannot be reached, funds are refunded within 24 hours.
5. Limitation of Liability
In no event shall High Class Auto Sales be liable for any indirect, incidental, special, consequential or punitive damages. Our liability is limited to the amount paid for the vehicle.