advice How safe is it purchasing a domain via a payment plan?

That doesn’t sound right that a seller can collect funds then cancel at a whim and the buyer loses his payments!?!?
Is this right, and is it what they told you?
Was this Escrow.com?

Yes, it is Escrow.com, and I wish I saved a copy of the chat, but that is what they told me when I asked them specifically what would happen when the seller backs out while payments were already made to them. Seller gets the domain back and I lose my payments.

Maybe @Jackson Elsegood can clarify this, because the way you say you were told above, sounds like a great way to fleece domain buyers with no downsides to the seller or Escrow.com.

Read the buyers and sellers contract. If you default on payment the seller gets the domain name back.

5. Delivery of Escrow Items by Escrow Agent. Escrow Agent agrees to deliver the Escrow Items as follows: a. To Purchaser. At the time Purchaser has made all payments due under the Payment Schedule, the Escrow Agent shall deliver the Escrow Items to Purchaser within five (5) business days. 2651340-620704 VA.org b. To Seller. If Purchaser fails to make a payment due under the Payment Schedule, Seller may declare a default by sending Purchaser a notice of default. Such notice of default shall also be sent in writing to the Escrow Agent. If the Purchaser fails to cure the default within five (5) business days following such notice, Seller shall have the right to notify the Escrow Agent (with a copy to Purchaser) of such failure and demand delivery of the Escrow Items. Escrow Agent shall deliver the Escrow Items to Seller within five (5) business days after the default cure period has passed.

Have Escrow managing the DNS. To do this Escrow has the domain name in their possession and seller is waiting for payments.

Have financial records that you payed Escrow in a timely fashion then you can sue Escrow if you get shafted.


https://s3-us-west-2.amazonaws.com/...e+Holding+Purchase++(Escrow+Managing+DNS).pdf