Receiving payments via Escrow.com

htmlindex · 01-06-2009, 01:03 AM

I have just come to an agreement for a sale of a name to an enduser & have stated in the terms that payment will be via Escrow.com with Buyer to pay the fees. I have never used them before as I haven't been a big seller of names.
????: NamePros.com http://www.namepros.com/domain-name-discussion/548319-receiving-payments-via-escrow-com.html

For them to pay the full fees so I don't get stung for the fees if they don't complete the purchase, I have to get them to initiate the transfer, is that correct? Or can I just initiate the transfer & when you get to " New Domain Name Transaction: Step 1 of 3", where it says "Who Will Pay the Escrow Fee" just select "Seller" & that should take care of it?

Also, for "Length of Inspection Period" do you usually leave it to 3 days or it doesn't really matter?

wussadotcom · 01-06-2009, 01:15 AM

another option you can use besides escrow is escrowdns.com
I haven't used it yet but it sound promising compared to escrow.com

htmlindex · 01-06-2009, 01:20 AM

Originally Posted by wussadotcom

another option you can use besides escrow is escrowdns.com
I haven't used it yet but it sound promising compared to escrow.com

I'll probably just stick to Escrow.com since I've already told the buyer that & they are well known

Aggro · 01-06-2009, 05:35 AM

Originally Posted by htmlindex

I have just come to an agreement for a sale of a name to an enduser & have stated in the terms that payment will be via Escrow.com with Buyer to pay the fees. I have never used them before as I haven't been a big seller of names.
????: NamePros.com http://www.namepros.com/showthread.php?t=548319

For them to pay the full fees so I don't get stung for the fees if they don't complete the purchase, I have to get them to initiate the transfer, is that correct? Or can I just initiate the transfer & when you get to " New Domain Name Transaction: Step 1 of 3", where it says "Who Will Pay the Escrow Fee" just select "Seller" & that should take care of it?

Also, for "Length of Inspection Period" do you usually leave it to 3 days or it doesn't really matter?

- For the domain t/f , buyer would initiate. Or you could create a new a/c with the domain in it (eg Godaddy) and just give them the a/c username/PW.

- "Buyer pays fees"

- Set the inspection period as short as possible. Buyer's remorse or cold feet have killed more deals than not.

In future, I would suggest escrowDNS,com - true escrow - but that's another time and place...

Soofi · 01-06-2009, 12:41 PM

escrowDNS,com anytime ;-)

stub · 01-06-2009, 03:16 PM

I've done it plenty of times. You should be the one to initiate the transfer. Change the inspection to 1 day.

HuntingMoon · 01-06-2009, 05:50 PM

moniker escrow is worthy of spamming here too. as a controlling registrar, they offer a nice security situation.

***Jawed*** · 01-06-2009, 05:58 PM

I purchased a domain recently. The seller initiated the transfer. Keep inspection for 3 days; good business relationships with your buyers.

stub · 01-06-2009, 06:06 PM

What is there to inspect once the domain is in their hands? 1 day is quite enough to know if they want the domain.

***Jawed*** · 01-06-2009, 06:29 PM

Originally Posted by stub

What is there to inspect once the domain is in their hands? 1 day is quite enough to know if they want the domain.

You may call it cooling-off period.

HuntingMoon · 01-06-2009, 06:32 PM

Originally Posted by drjawed

You may call it cooling-off period.

i would call it a letting escrow.com sit on my money for no reason period

cache · 01-06-2009, 09:12 PM

you have more control if you initiate the transaction

htmlindex · 01-07-2009, 01:15 AM

Thanks for the comments. Just an update, Escrow.com has received the payment now & I need to transfer the domain. It is regged @ MyDomain

This is the message when I log into Escrow.com:

Quote:

• Escrow.com has secured the Buyer's payment.
????: NamePros.com http://www.namepros.com/showthread.php?t=548319
• The domain name transfer process varies with each registrar. Please communicate with your Buyer and the registrar directly to complete this process. Escrow.com does not transfer the domain
• After the transfer process has been started, please click the continue button to move the transaction forward and provide your Buyer the opportunity to mark the domain as “received” on the Escrow.com site.

Please transfer domain only to this address.......etc.

I'm not sure if the buyer already has a MyDomain.com account. I could either:

(a) ask him to create one
(b) create one myself with the details he gave to Escrow.com then, push the name to that account then give him the username & password to log in.

I believe that Escrow.com will double check if the Whois info of the domain matches what the buyer has given them before transferring the name so I presume it would be safer creating a brand new account just incase his Whois info is different?

HuntingMoon · 01-07-2009, 01:19 AM

work with the buyer to have a fast push at MyDomain

NameRegistration · 01-07-2009, 03:22 AM

Unless the buyer has some problems creating his own account at MyDomain I would go for (a). If you create the account, there are ways to ask the registrar to reset the password once the transfer is completed and that could make the buyer suspicious.

***Jawed*** · 01-07-2009, 06:23 AM

Ask the buyer to create an account. This is safe and good for all parties concerned.

01-06-2009, 01:03 AM	THREAD STARTER #1 (permalink)
htmlindex NamePros Legend Join Date: Jan 2007 Posts: 14,241	Receiving payments via Escrow.com I have just come to an agreement for a sale of a name to an enduser & have stated in the terms that payment will be via Escrow.com with Buyer to pay the fees. I have never used them before as I haven't been a big seller of names. ????: NamePros.com http://www.namepros.com/domain-name-discussion/548319-receiving-payments-via-escrow-com.html For them to pay the full fees so I don't get stung for the fees if they don't complete the purchase, I have to get them to initiate the transfer, is that correct? Or can I just initiate the transfer & when you get to " New Domain Name Transaction: Step 1 of 3", where it says "Who Will Pay the Escrow Fee" just select "Seller" & that should take care of it? Also, for "Length of Inspection Period" do you usually leave it to 3 days or it doesn't really matter? __________________ GEO Sale!! - $15 each

01-06-2009, 01:15 AM	#2 (permalink)
wussadotcom Senior Member Join Date: Jan 2008 Posts: 1,591 Follow @flippasecret	another option you can use besides escrow is escrowdns.com I haven't used it yet but it sound promising compared to escrow.com __________________ [HOT!] \| Laman Web Cinta I recommend Janine for high quality designs!! FLIPPA

01-06-2009, 03:16 PM	#6 (permalink)
stub NamePros Expert Join Date: Jan 2006 Posts: 6,983	I've done it plenty of times. You should be the one to initiate the transfer. Change the inspection to 1 day. __________________ COMDots - DNDots - StubDomains - WebmasterUnlimited - DNSPortfolio

01-06-2009, 05:50 PM	#7 (permalink)
HuntingMoon Join our Mailer! Join Date: Jan 2005 Location: San Francisco Posts: 1,101	moniker escrow is worthy of spamming here too. as a controlling registrar, they offer a nice security situation. __________________ HuntingMoon Twitter Essociate PDDW.com Pending Delete Domain Watcher \| Tube Domains

01-06-2009, 05:58 PM	#8 (permalink)
*Jawed* Senior Member Join Date: Jul 2008 Location: TradeDirectory.com Posts: 2,019 Follow @TradeDirectory	I purchased a domain recently. The seller initiated the transfer. Keep inspection for 3 days; good business relationships with your buyers. __________________ Business Directory

01-06-2009, 12:41 PM	#5 (permalink)
Soofi Account Closed Join Date: Dec 2007 Location: Punjab Posts: 3,790 Follow @GIBO_INDIA	escrowDNS,com anytime ;-)

01-06-2009, 06:06 PM	#9 (permalink)
stub NamePros Expert Join Date: Jan 2006 Posts: 6,983	What is there to inspect once the domain is in their hands? 1 day is quite enough to know if they want the domain. __________________ COMDots - DNDots - StubDomains - WebmasterUnlimited - DNSPortfolio

01-06-2009, 09:12 PM	#12 (permalink)
cache Senior Member Join Date: Sep 2005 Location: Goblin Wars Zone & California Posts: 4,451	you have more control if you initiate the transaction __________________ LaFrance Hods Raids Trik OXSI GoblinWars IQx yPortal Idel enlo Kitu Hytu Albums eMontage Cereal Tarf MDTalks Toch TV vald hosy Bagr Glem wolk corg ypen DiTV

01-07-2009, 01:19 AM	#14 (permalink)
HuntingMoon Join our Mailer! Join Date: Jan 2005 Location: San Francisco Posts: 1,101	work with the buyer to have a fast push at MyDomain __________________ HuntingMoon Twitter Essociate PDDW.com Pending Delete Domain Watcher \| Tube Domains

01-07-2009, 03:22 AM	#15 (permalink)
NameRegistration NamePros Regular Join Date: Apr 2005 Posts: 370	Unless the buyer has some problems creating his own account at MyDomain I would go for (a). If you create the account, there are ways to ask the registrar to reset the password once the transfer is completed and that could make the buyer suspicious. __________________ Domain Name Registration - Juegos Gratis

01-07-2009, 06:23 AM	#16 (permalink)
*Jawed* Senior Member Join Date: Jul 2008 Location: TradeDirectory.com Posts: 2,019 Follow @TradeDirectory	Ask the buyer to create an account. This is safe and good for all parties concerned. __________________ Business Directory

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