I’m sure we’ve all been asked if we can hold an item for an interested buyer. The idea sounds great, but you’re worried that the buyer might cancel last minute. The buyer is willing to initiate payment for the item now ensuring that it is held for them until they can get it. A win-win for all!
The buyer knows the item will be held for them, the seller knows that they have funds pending the completion of the transaction, and the fear of having a buyer flake has significantly improved!
When you're buying and selling on OfferUp, a "hold" is an agreement between a buyer and seller that they'll meet in person to exchange the item and the payment. It's more than two people taking each other's word for it. The buyer authorizes payment in advance, and the money is "held" until the meeting. The seller agrees to "hold" the item just for that buyer until they meet.
Once the buyer and seller meet, the buyer inspects the item to make sure everything is as expected. After inspecting the item, the buyer releases the "hold" on the payment, and the seller gets paid.
You’ll get a response within 24 hours. If the seller accepts, the full price of the item will be pre-authorized on your credit card. It will not be released to the seller until you inspect the item in person and confirm your purchase. If the seller doesn't respond, the offer cancels automatically.
Meet the seller within 6 days. If you don’t meet within this time, the offer will expire and will automatically be canceled. This will release the hold on your card, and your money will be returned to you.
I’ve been trying this feature out for a couple of months now. It makes completing in-person transactions so much smoother! Not only does it make me feel more confident as a seller, but it makes my purchases a TON easier. What I do is pick 2 days per week to complete any hold purchases - typically Wednesday’s, and Sunday’s. This way, I can complete multiple purchases in the most convenient way possible for me! I save a ton of time scheduling out transactions like this, and love how seamless this feature is!
Have you Held any items yet? We want to hear your feedback below!
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