||you can get. Looks like they charge the buyer's credit card for their 5% and simply put the buyer and seller in contact with each other. They recommend in-person inspections, but reiterate they have zero involvement in the actual transaction.
Again, skimming, but I assume you forfeit the 5% to BaT if you back out without cause. I did see a buyer's review where he won the bid, paid the 5%, but got jerked around by the seller. He reported it to BaT and was refunded the fee.
Biggest thing to remember, as with any significant purchase, is to make no assumptions and do your due diligence. I agree - no way I'd buy any car without a face-to-face. Even as hell-bent as I was to get my Z, I flew to see it before giving the seller a hard commitment. It would have sucked to buy another ticket to fly home empty-handed, but I was prepared to do just that. Fortunately, it was all good and I drove her home.
Of course, I don't have first-hand experience on this - if anyone does, please chime in.