Sunday, June 9, 2013

Things To Consider Before Hiring A Florida Escrow Service

By Liliana Mills


Hiring a Florida escrow service to handle financial transactions is a smart idea for both buyers and sellers. You should always check out the provider before retaining any services. Make sure you are dealing with a legitimate business. There are several escrow frauds out there so you need to be careful who you hire. Always check the background of the business and verify that there is no history of customer complaints.

Financial holding companies keep the money in a safe account and will not complete financial transactions until everyone is happy. They are like a middle man that monitors both parties for things that might go wrong. They handle all transactions regardless of size. Some providers will even handle very small transactions from online purchases. Regardless of the type of purchase, a holding account protects everyone involved.

When making a purchase, you can place money in a holding account. That money is kept in that account until you are satisfied with the seller's services. The seller will ship your items once you have placed the money in the account. When the items arrive, verify that you got what you paid for. If everything is there just as expected then you should contact the holding company and they will release the money to the seller.

Sellers are protected when buyers place money in holding accounts. Buyers that are not honest about the arrival or condition of their purchases are committing fraud. Holding companies will investigate the claims of buyers and verify that the right products were delivered as promised. If the buyer is not honest and did receive the promised products then the provider will release the money to the seller.

The financial services industry is rampant with fraud. Some fake websites are designed to look just like the websites from real businesses. They will have the same wording and pictures. They will look exactly like the website of the legitimate company that is being targeted. The only thing that will be different is the domain name that appears in the web browser. You should always verify the domain name of any site you are sending money to.

You can check with the Better Business Bureau if you have questions about a service provider. The BBB has a website that allows you to input the domain name of any website and they will tell you if that website really belongs to the business you are looking for. It is a good idea to consult with the BBB before transferring any money into a new account.

There are scam prevention websites that have been set up to track scams and fraud. Just do an Internet search of the phone number or domain name in question and see if something comes up on one of these anti-scam websites. These websites are filled with current information about scams and can be a great place to verify phone numbers and domain names.

Before hiring a Florida escrow service, always verify the reputation of the business. Make sure you are hiring a legitimate company and not getting involved with a scam. Fraud is rampant in the financial industry. Watch out for fake websites that are designed to trick you into sending them your money.




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