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Reply to "Someone on another thread said something about "market softening?""

@Troy Sloan posted:

They take their 5 % immediately at the close of the auction.

From where though?

I buy a car for 50,000, there's no guarantee they can hit the buyers credit card for $2500

And the seller doesn't have any money yet from the sale.

I can see if there's X listing fee and it's taken as soon as a sale is registered, hence returned if the buyer backs out

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