It can be nerve-wracking to buy or sell a business from someone you don't know very well. This is why Exchange partnered with Escrow.com to offer our sellers and buyers the safest possible way to buy or sell on Exchange.
All transactions must be made using Escrow.com and as a seller, you can create the transaction from the Exchange app after you've accepted an offer.
Here are some of the reasons why you should always use Escrow.com to get paid:
Benefits for sellers:
- There is no risk that your buyer will file a chargeback after you transfer your business to them. All Escrow transactions are final.
- Escrow and Exchange work together to settle any dispute that could arise during the sale.
- Escrow will protect you from fraudulent buyers by securing and verifying their payment.
- Exchange will be able to protect your financial data and securely transfer ownership of your store.
Benefits for buyers:
- Escrow will securely hold your payment until the seller has transferred ownership of their business to you. The seller does not get paid until you get what you paid for.
- Escrow fees are lower than most credit cards and other online payment methods.
- Other payment methods, such as Paypal, do not offer protection for the purchase of digital goods like Shopify stores.
- When you use Escrow.com for an Exchange sale, you can pay using bank transfer, Paypal, or credit card.