What does a good Escrow service do:
Buyer pay to escrow service.
Seller transfers domain to escrow service.
Now escrow has both domain and and money and switches them.
.......
What does Escrow.com do (did in the past at least)
Buyer pays to Escrow.
Seller transfers the domain one way or another.
Escrow service is informed about this, and money is released.
What if buyer says I didn't get the domain, or it is stolen because
buyer's email is compromised?
.....
What happens at Sedo.
Buyer pays. Until recently I would think, when buyer pays, transaction is essentialy complete.
If Sedo says "domain sold", unless buyer really pays, you can't know it will be complete.
Ok, let's say buyer paid. Card confirmation done.
Then how long would transaction take normally. 1 day or 2 day. If you push to Sedo, then
this would be the case. How about 3 weeks or more?
Why would this happen:
Buyer doesn't start transfer.
Sedo sends reminders but most go to Spam folder, and buyer forgets about this sale.
Ok let's say transfer is complete. And then buyer doesn't confirm that transfer is complete, although it is.
Total ignorance, and waste of tons of time, checking emails 100 times.
And eventually you may realize that domain was stolen, because buyer was careless.
And then buyer may blame seller, and say you gave authcode to other parties.
What can you do? Nothing. You can lose domain and not get the money.
Sedo recently waits for days just to verify a complete transfer: ask buyer if they get the domain, but buyer just ignores it, because messages go to spam folders. Even if everything is correct you wait 2 days between steps, and there are weekends. You can consider friday and monday as weekend too.
Buyer pay to escrow service.
Seller transfers domain to escrow service.
Now escrow has both domain and and money and switches them.
.......
What does Escrow.com do (did in the past at least)
Buyer pays to Escrow.
Seller transfers the domain one way or another.
Escrow service is informed about this, and money is released.
What if buyer says I didn't get the domain, or it is stolen because
buyer's email is compromised?
.....
What happens at Sedo.
Buyer pays. Until recently I would think, when buyer pays, transaction is essentialy complete.
If Sedo says "domain sold", unless buyer really pays, you can't know it will be complete.
Ok, let's say buyer paid. Card confirmation done.
Then how long would transaction take normally. 1 day or 2 day. If you push to Sedo, then
this would be the case. How about 3 weeks or more?
Why would this happen:
Buyer doesn't start transfer.
Sedo sends reminders but most go to Spam folder, and buyer forgets about this sale.
Ok let's say transfer is complete. And then buyer doesn't confirm that transfer is complete, although it is.
Total ignorance, and waste of tons of time, checking emails 100 times.
And eventually you may realize that domain was stolen, because buyer was careless.
And then buyer may blame seller, and say you gave authcode to other parties.
What can you do? Nothing. You can lose domain and not get the money.
Sedo recently waits for days just to verify a complete transfer: ask buyer if they get the domain, but buyer just ignores it, because messages go to spam folders. Even if everything is correct you wait 2 days between steps, and there are weekends. You can consider friday and monday as weekend too.
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