Make this window smaller to see your active page.

Close this window when you are done and your active page will appear.

Safefunds Special Transaction Services

The Safefunds system includes provision for special transactions including transactions requiring the “Pay Off” of a financing contract and transactions requiring the exchange of documents without the funds passing through the Safefunds system. Safefunds can also handle automatic payment distribution to multiple parties, ideal for situations where the "seller's" receipts needs to be allocated to multiple partners.

Finance “Pay Off” transactions.

This type of transaction typically occurs when a vehicle has an open loan and part of the buyer’s funds will be used to pay off the loan. The Safefunds system can easily handle this transaction. Buyer and seller set up two separate transactions. The first one is for the item at the NET amount the seller is to receive after the financing is paid off. The second transaction is for the amount required to pay off the outstanding loan.

The description of the second transaction refers to the first transaction and instructs Safefunds to send the proceeds of the second transaction with any necessary paperwork to the holder of the loan.

When BOTH transactions are agreed to and funded by the buyer, the seller ships the vehicle and sends any necessary paperwork to SAFEFUNDS. When the buyer receives the vehicle and the condition of the vehicle is as agreed, the buyer releases the funds of the second transaction. The funds are sent by Safefunds to the loan holder to execute the payoff. Once the loan is paid off, the seller sends clear title to the buyer and the buyer releases the first transaction for the NET amount the seller is to receive.

Both buyer and seller are completely protected.

Document exchange transactions

This type of transaction occurs when the buyer requires financing and the loan company will only issue a check in the seller's name or when there is an even exchange and no money is changing hands. The Safefunds system can provide complete protection in this case. The transaction is set up only for the amount of the Safefunds fee plus our paper handling fees.

Both parties send their paper work to Safefunds. Safefunds then advises each party of the paper work received from the other party. Copies may be faxed. When both agree, the paper work and/or payments are distributed by Safefunds.

Since Safefunds controls the distribution of payments and paperwork, both buyer and seller are protected.

Multiple party transactions

Safefunds is ideal when the seller is actually a group of separate entities needing to have a neutral party receive the proceeds and fairly distribute the funds to the participants. Typical examples are royalty payments and transactions involving multiple finder's fees. We tailor the transaction to our clients' needs and will provide a custom quotation for the service.

What do these special transactions cost?

Each transaction is charged the usual $26 transaction fee. There is an additional charge of $50 for each party from which we receive paper work to distribute. The only additional charge is for optional express delivery of documents at $25 for each express address in the USA.

Because we can custom tailor our service to meet the unique requirements of each transaction, please contact us at 1-888-565-4187, Monday through Friday, 8 a.m. to 5 p.m., Eastern Time for more information and a custom quotation to meet your unique needs. If you prefer, send an email to Safefunds Logistics Group for assistance.