advice How to buy a domain name: here’s why nobody is responding to your domain name offers

Good piece.

So that's what I've been doing wrong. Thank you

I like it!

This article is definitely for end user, however, just to point out, using an escrow service is horrible especially when it comes to theft. As pointed out in NP that escrow is not a buy and sell agreement, so there would be a lot of headache for both the buyers and sellers, since escrow doesn't even protect its customer when there is a report of theft.

Most people tend to think that it is "safe" to go with an escrow service. When it is not.

tech4 said:

however, just to point out, using an escrow service is horrible especially when it comes to theft. As pointed out in NP that escrow is not a buy and sell agreement, so there would be a lot of headache for both the buyers and sellers, since escrow doesn't even protect its customer when there is a report of theft.

Most people tend to think that it is "safe" to go with an escrow service. When it is not.

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Please suggest an alternative instead of Escrow?

Thank you Moderator.

I am going to stand back a metre from the screen so I can read this.

@Crysis,

Since it has been established many times, that escrow services will not protect a buyer and a seller from theft. We should all do our due diligent when it comes to high cost transactions. Because you are paying for escrow for basically nothing.

They take their fees, they don't indulge in any information (as posted many times) so why pay more when it is not safe? Why not request information yourself, request a webcam chat, some picture ids, and do your own diligent? Why pay through a third party, if they do not tell you who cashed the check? or what bank account it went to?

If you do it yourself, as a buyer, you will know who cashed your check, and which bank it went to. Easier and doesn't cost you much in terms of money. As a seller, assuming you take the time to call, look up address, and have a face to face (webcam conversation) you will know more too. Ofcourse I am not saying it is 100% safe, but it will be safer if you can do it. And as a seller, you have a contract buy and sell, so if they don't pay, you can send that contract to the registry to get the domain back. So do it yourself in this case, 1)A buy and sell contract to protect from seller (assuming the registry helps or get a lawyer), 2) Look up address, phone and face to face chat via videos help protects from fraud. As a buyer, you know who cashed your check, and where it went or sent to at least without begging an escrow service to tell you (and they don't tell you). In all cases as buyer or seller, you have more information, more control, and more "rights" should something goes wrong. In escrow cases, you don't have anything and have to pay a fee on top of that.

If anyone else can listed something else I missed please add. At the moment, I don't see any escrow being helpful at all when using their services.

tech4 said:

@Crysis,

Since it has been established many times, that escrow services will not protect a buyer and a seller from theft. We should all do our due diligent when it comes to high cost transactions. Because you are paying for escrow for basically nothing.

They take their fees, they don't indulge in any information (as posted many times) so why pay more when it is not safe? Why not request information yourself, request a webcam chat, some picture ids, and do your own diligent? Why pay through a third party, if they do not tell you who cashed the check? or what bank account it went to?

If you do it yourself, as a buyer, you will know who cashed your check, and which bank it went to. Easier and doesn't cost you much in terms of money. As a seller, assuming you take the time to call, look up address, and have a face to face (webcam conversation) you will know more too. Ofcourse I am not saying it is 100% safe, but it will be safer if you can do it. And as a seller, you have a contract buy and sell, so if they don't pay, you can send that contract to the registry to get the domain back. So do it yourself in this case, 1)A buy and sell contract to protect from seller (assuming the registry helps or get a lawyer), 2) Look up address, phone and face to face chat via videos help protects from fraud. As a buyer, you know who cashed your check, and where it went or sent to at least without begging an escrow service to tell you (and they don't tell you). In all cases as buyer or seller, you have more information, more control, and more "rights" should something goes wrong. In escrow cases, you don't have anything and have to pay a fee on top of that.

If anyone else can listed something else I missed please add. At the moment, I don't see any escrow being helpful at all when using their services.

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Great points you raised so far. I agree most of these escrow services may be after their commission. Doing your due diligence is always your responsibility.

Great read @Haroon Basha, thanks for sharing.

tech4 said:

Since it has been established many times, that escrow services will not protect a buyer and a seller from theft.

Click to expand...

@tech4 can you elaborate on that?

Escrow will receive payment and will verify it and the domain from the seller will only be released when seller has the money and vice verse. I thought escrow was the safest payment service out there i know no payment service is 100% safe but escrow seems like 98% safe that's why i pay them.

Can you give some examples how you can get scammed on escrow? Maybe send me some examples by DM so no one gets any ideas to use those methods, this is a public forum after all, anyone can see this.

The contract for seller and buyer is a good option but there is ways around that too like fake bank accounts, fake information and stolen identity plus most registrars will help but there are some who don't care, also the first thing i learned when i started in the domain industry is never send your domain before you have the payment.

I would like to discuss this further with you so i know how to protect myself and avoid big scams, also would like to know how escrow isn't safe because they get good commissions, if they protect me i have no problem with that but if they don't protect me rather keep those commissions and find a safer way.

@rafaelo0

There are a few threads on NP which discusses the unsafe of using escrow. That includes lawyers comments, and even some escrow experts commenting on it. You can look at some of the threads on NP and read on it. Thanks.

Here's 1 thread https://www.namepros.com/threads/do...-a-stolen-domain.1068888/page-12#post-6613756

ok @tech4 i will research namepros to see if i kind find those threads.

Thanks for the info.

Good article! Since most of us are sellers here, it just confirms what we do everyday