Avoiding Escrow

[user-name]

Hello,

say i am about to sell a domain name to a client for 10000$.
now the escrow charges would be usually 10%. so is it a good idea to convince the buyer to not to use the escrow and convince him to make a direct deposit to avoid 10%.

:D

 

[lennco]

Escrow.com only charges $175 for a $10k sale

 

[user-name]

Escrow.com only charges $175 for a $10k sale

hai len,
are you sure?


Selling on Sedo's Domain Marketplace
http://www.sedo.com/us/services/price-list-for-services/?tracked=1&partnerid=38758&language=us

10%
15%
20%
like it showing...

 

[lennco]

That's Sedo, you never said you were selling it through Sedo.

If you are selling it directly to your customer then you can use Escrow.com
If the offer came through Sedo then yes you are subject to their higher fees.

 

[alien51]

And what if the buyer refuses direct deposit, what is your Plan B ?

 

[Ted.T]

I don't think a buyer will accept to pay $10k by direct bank transfer. It's a stupid idea. And for you too, because he has 3 months to cancel the transaction and get the money back. Use eCop.com, they charge 2%. But usually, the buyer pays all the fees.

 

[alien51]

OR..... the next best solution is: Don't be too greedy.

Make the escrow fees part of the domain sale price. After all, that $10k price tag was just an arbitrary number. It could have been $9,350 or $9,590 or $9,720..... but you rounded it off to flat $10k. That's called arbitrary.

So pay the escrow fees yourself and give your buyer the peace of mind and get it over with.

 

[acenames]

It's too risky. If he does a chargeback 3 months later, they will take all the money out of your account. It happens.