PreOwnedWeddingDresses.com recommends Escrow.com for all transactions because it offers the most protection for the buyer and the seller. We really believe it is the safest way to pay for both parties. Here’s why:
Buyers are protected:
Escrow.com tracks the shipped merchandise and verifies it was delivered (assuring the wedding dress will ship before the seller receives the money).
The Seller isn’t paid until the Buyer accepts the merchandise, or the inspection period expires (assuring that the item is as described).
Sellers are protected:
Escrow.com confirms when the Buyer receives merchandise.
The Seller is authorized to ship only after Escrow.com verifies good funds (assuring the seller will get her money).
Here is what the escrow.com process looks like.
Either the buyer or the seller starts the process by signing up for a free account and initiating the transaction:
The inspection period is the length of time a buyer has to inspect the dress. It can be set from 1-30 days and is the time the buyer is allotted to inspect the merchandise. At the end of the inspection period, the buyer can accept or reject the merchandise. (It is important to note that a buyer can reject a dress for any reason.)
If the buyer rejects the merchandise, she most return it to the seller at her expense. If the merchandise is not returned to the seller in the same condition it was sent, the seller can reject the return. (This means that a seller doesn’t have to worry that the gown won’t come back the way it was sent out).
The buyer or seller enters the description and price of the item.
Escrow.com summarizes the transaction and asks the initiator to accept it. It is then sent to the other party for review. The other party can accept the contract or revise it and send it back for agreement.
Note: Escrow.com offers a standard and premier service. (The premier service offers more speed and convenience.) See the difference between the two levels here.
The buyer or seller selects how payment will be made:
Note: for wedding gown/apparel transactions, payment can only be made via check or wire transfer. Escrow.com will not accept credit cards for wedding gowns.
One thing I’ve always recommend to buyers and sellers is that a seller can charge a “restocking” fee for a return. This helps ensure that only serious buyers try on the dress. And it helps compensate a seller for her time and effort of shipping her dress and accepting a return.
Here’s how you would set that up in an escrow.com transaction:
If you were selling your dress for $1500 (dress) + $50 shipping. You would set it up in escrow.com for $1300 (dress)+ $250 shipping. ($50 for shipping and $200 for restocking).
That way, if the buyer returned the dress, she would be refunded $1300 and the seller would be paid $250 on the return.
Have any questions about how escrow.com works for wedding dress transactions. Email them to us and we’ll answer them here.