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Is this legit?

I found a motorcycle listed on Craigslist. 

 

The CL Seller, is suggesting use of eBay as an escrow agent.

 

Can this be done if the bike isn't a listing on eBay?

 

Excerpt from the email I received from the Seller:

 

"...after talking with eBay, it sounds like the transaction works like this: You need to send me your FULL NAME, shipping ADDRESS and phone number. I will forward them to eBay so we can initiate our transaction with them. Once the transaction has started, we will both receive further instructions about it  including a payment invoice and bill of sale. You will need to make the payment to eBay as eBay will give me the shipping instructions to start the shipping. I will ship the bike to your address and after you receive it, you'll have 5 days to inspect it; drive it and check its' documents before actually deciding to keep it. During this whole time eBay will hold your money in their trust account. If you're satisfied with the bike and decide to keep it, you will need to inform eBay about this, and eBay will release the entire amount of money to me.
 
If the bike  is not as I described it and you decide not to keep it, then eBay will refund your deposit in full, no questions asked and shipping back the bike will be my concern.
 
Please take into consideration and remember that I will get paid only AFTER you receive the bike and confirm that you indeed want to keep the bike after the inspection period. We are both covered. Sorry for the long email as I have tried to explain the entire process."
 
If this is a legit process, what happens, if when the bike arrives and I refuse it, who pays for the return shipping and how is that handled?

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