Another possibility to complete the deal and secure the interests of buyer and seller at the same time, is to open an ESCROW account. Many banks offer such deposit account these days, so buyers and sellers should not have any problem with selecting the proper one.
What is the greatest benefit of this payment option? Of course the fact, that the money are being held on the bank account, which is not accessible neither by the buyer, nor by the seller. In order to transfer the money on the seller’s behalf, both buyer and seller have to complete the terms they both have agreed upon.
The terms and conditions are being discussed and confirmed in a written form, so that the bank or ESCROW agent will know how to proceed with finishing the transaction. According to the little research of ours, the fees for such service differ between the banks, but in most cases approximately 5% of the transaction’s worth are being taken by the agent.