Offers on Grailed are binding
A binding offer is an agreement between the buyer and the seller. When a buyer makes a binding offer and the seller accepts, the payment is completed instantly and the sale is made.
As a buyer, your payment is only made if and when the seller accepts - until then no money is taken from your account.
How do I benefit from binding offers?
Binding offers streamline the buying and selling process by allowing buyers and sellers to negotiate more effectively. Why are binding offers better than non-binding offers?
- Binding offers encourage serious, well-balanced negotiations.
- Binding offers will speed up and streamline transactions
- Sellers make sales quicker.
- Buyers receive the items they want faster, and for better prices.
Are all offers binding?
Due to PayPal limitations, there are certain situations in which offers are NOT binding:
- PayPal Guest Checkout
- If the seller is on PayPal Adaptive Payments
- If both the buyer and the seller are located in the EU**
In those situations, offers are non-binding, meaning the buyer can choose to pay after the seller accepts.
**NOTE: if either the buyer or seller are located outside the EU, offers will be binding
How do binding offers work?
- Binding offers are a guaranteed sale. When you accept a binding offer, you get paid instantly and the purchase is completed. Next step → shipping.
How long do I have to accept?
- Once you receive a binding offer, you have 48 hours to accept or make a counteroffer. After 48 hours, the binding offer will expire. Don’t miss out… Once a binding offer expires, it’s automatically voided and can no longer be accepted.
Can I counter a binding offer?
- Making a counteroffer voids the previous binding offer. If you make a counteroffer, previous binding offers can no longer be accepted—and the sale is no longer guaranteed.
- When a buyer makes a binding offer on an item, they’re committing to purchase that item, at the amount offered, if the seller accepts. Accepting a binding offer completes the purchase.
- When a buyer makes a non-binding offer, they are not committed to purchasing the item if the seller accepts. Accepting a non-binding offer does not complete the purchase and requires the buyer to pay for the item afterward.
I accepted a binding offer but the buyer’s payment could not be processed…
- If the buyer’s payment could not be processed, the order cannot be completed, the transaction is canceled and the binding offer is voided.
I accepted a binding offer but I’m unable to ship my item and/or I accepted a binding offer but I’ve changed my mind—can I cancel the order?
- To cancel the order, you should refund the buyer by logging into PayPal, selecting the transaction and then selecting the “refund” prompt. Find complete refund instructions here.
Why does editing a listing void any active binding offers on the listing?
- When you edit an active listing, any existing binding offers that have been made on that listing are automatically voided—this action takes place to protect Grailed buyers from potential risk.
- Here’s why → when a buyer makes a binding offer on an item, they’re agreeing to purchase that item—as presented and described—at the offered amount as soon as you accept. If you edit the listing, this changes the contents of the listing and therefore, the buyer is no longer held in agreement to purchase that item.
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