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Escrow.com - legit or not?
DarkCrawler
Registered User regular
Registered User regular
I'm conducting some personal business relating to real estate, where one of the people I am dealing with is living abroad. He wants to do deals through this service, but it seems sort of sketchy - can someone more knowledgeable on these things tell me if this is an actual company?
https://www.escrow.com/index.asp
https://www.escrow.com/index.asp
DarkCrawler on
0
Posts
Red for very high chance of scam.
Currently painting: Slowly [flickr]
I think the most common method is that they somehow transfer a key to you, often through an escrow service, under the claim that this lets you look at the property. They then somehow steal all of your money and disappear forever and ever.
Seriously, these things are all almost scams. Walk away.
Currently painting: Slowly [flickr]
Even if it's not an outright scam, you don't want to be buying something from someone who can't be held accountable in your local courts when it turns out your basement was built over a Deepcrow nest or something.
You're better to ignore it and go on your way. As xenophobic as it is, dealing with foreigners almost never works out.
Brandon Abbey
President
Escrow.com
Has anyone ever noticed how high Penny Arcade forums always rank on the google search index? It's crazy.
Why is the Escrow.com president on our boards?
I'm scared. Is this a hostile takeover? Will I still have a job Monday?
Edit:
For instance if you google "escrow.com legit" pa forums is one of the first 5 results.
Just as a personal account of a similar situation, when looking for apt's in San Diego, I came across an absolutely screaming deal on craigslist, and out of curiosity emailed the person to find out what the story was with the place. I got this huge story about living in England, but still keeping the apt in the states, blah blah, and after the dude was sure he hooked me, I finally got the escrow bit a few emails later. It was a scam. I am guessing this is similar to what has happened to you maybe? (And no I didn't buy into it)
Always ask yourself if this seems to good to be true, chances are it is. Apt may be legit, but I would be extremely cautious regardless.
http://www.craigslist.org/about/scams
see #5.
Brandon
They're not necessarily contractually bound to make sure the key actually belongs to anything. That's what a proper title search and real estate escrow service would do. And since El Presidente of Escrow.com has shown up to verify that's not what Escrow.com is, if you went through with that sort of transaction - all you bought was a key.
"house key, brass; stamped 'Schlage' in Nigerian, slightly used" $900
Isn't really the escrow's place to ask why you've paying so much for a random house key. Maybe it has intense sentimental value?
Since this is a scam, there is a near-certainty that it will not open the door of the property, since the person never had access to the place. Probably had never been there in his life. Just picked it out of some online listing and sen you some old key that was lying around (doesn't everyone have at least a few keys to nothing at all lying around the house?). You're out your money, and you have no recorse with the escrow service, since they can verify they sent you your (very expensive) key as promised.
Much to the surprise and retaliation of the people living inside.