question Buyer will pay with credit card $19,000

[italsat]

Hello , i have sold a domain , the buyer ask me for pay it with credit card 19,000

What escrow service allow to pay with credit card this amount ?



i have open a escrow.com transaction but buyer not like it.

 

[italsat]

the buyer have buy domain in buy now on 27 jan on GD , have accepted escrow payment but not have pay it .
I have this domain sold in gd account with escrow parties accepted , escrow status is the buyer not have select a payment method.
I have write the buyer 3-4 time and only yesterday have reply me , the buyer write : Yes i want buy it but with credit card.

I have received a direct email , this is my ultimate chance for close the sale , i have setup a invoice with cc payment enable and sent to buyer.

I have video stories where people have more money and 19k is a very cheap payment .
People that have 25-30 years that buy 10 champagne bottles in a night for $400 each .

I think this guys have family cc , and can buy all you want with no control.

If a guy like to buy a expensive domain , you like to pay it with cc .

This can be one of reason that the buyer ask me for pay it with cc.

 

[frank-germany]

ask [email protected]

 

[alcy]

.

 

[wwwweb]

Read the thread; seller is saying its been sitting in Escrow with no buyer response.

So he took matters in his own hands. I commend that. But would never accept cc payment. Not unless the name is worthless to everyone else.

Well he could accept credit card payment, if he had legal agreements in place, and notarized purchase depending on what countries they are working out of.

Lots of work, my guess buyer just wants to charge it to his card, and not worry about it until next month, many business owners use credit cards as lines of credit.

 

[ResoluteDomains]

Not sure why you insist to use escrow if you are the seller. The person taking the risk is the buyer, not the seller. As long as you receive the funds first, then you authorise the transfer, what is your risk?

Charge back is the risk.

 

[italsat]

yes , charge back , i have ask at support how many time the buyer if can request charge back after have make the payment.
In any case , i can will await the money in my bank account for send the domain.
The buyer need await some days for have the domain pushed.

 

[Hootsifer]

'

 

[ResoluteDomains]

yes , charge back , i have ask at support how many time the buyer if can request charge back after have make the payment.
In any case , i can will await the money in my bank account for send the domain.
The buyer need await some days for have the domain pushed.

Too many red flags with this. You may have to consider walking away from the sale. I know that is going to hurt but if you think about it, that pain will be tiny compared to the possibility of losing your domain AND the $19,000 due to a credit card charge-back.

If you're dead set on making this sale go through then CC is a large risk to take. If you are OK with it then proceed via the method you described with stripe - if you can set that up.

For me, its wire transfer via an escrow service, a broker, or an attorney or else no deal. No credit cards, no paypal - never. I want the best financial transaction protection and I will pay for that if I have to, and you most always have to.

(I see that there are companies/services out there designed to eliminate charge-back fraud, but I havent looked into these. I would they they'd want some sort of volume of sales per month which I can not provide. I may look into these, you may want to as well for this.)

 

[Justin Matmor]

Charge back is the risk.

So if they pay using their credit card and execute the transaction via escrow, does that mean that the buyer cannot do a chargeback?

 

[vast]

I've heard that some escrow services offer the payment plans - maybe it is possible to split the payment so that each fraction doesn't exceed the CC payment limit? Haven't tried myself, but could be worth to ask them...

 

[ResoluteDomains]

So if they pay using their credit card and execute the transaction via escrow, does that mean that the buyer cannot do a chargeback?

I am sure they could still do a charge-back. That depends on their CC issuer's policy. Usually its 90 days, though I was told by my CC issuer the can and do make exceptions for longer periods of time.

I have heard that escrow.com protects the seller from such charge-backs. Perhaps they have insurance? Not sure how they absorb that.

 

[Justin Matmor]

I am sure they could still do a charge-back. That depends on their CC issuer's policy. Usually its 90 days, though I was told by my CC issuer the can and do make exceptions for longer periods of time.

I have heard that escrow.com protects the seller from such charge-backs. Perhaps they have insurance? Not sure how they absorb that.

So if they do a chargeback it will be against the escrow provider and not against the seller...hence why the seller is protected?

 

[ResoluteDomains]

So if they do a chargeback it will be against the escrow provider and not against the seller...hence why the seller is protected?

I think so. Its about 1/2 down this page: https://www.escrow.com/what-is-escrow

Like I said, its never happened to me. Not sure if anyone else can add to this but escrow.com claims to protect against CC charge-backs. I believe its also discussed on NP elsewhere too. Also not sure if Payoneer or other "escrow" venues offer this protection either.

 

[lock]

Your about to be ripped off. This will only end in tears.

 

[Sam]

Separate into 4 different transactions of $5k each with similar domains. Tell him its the only way, and only approve the transfer after first three go through.

 

[Start]

Not everyone that uses a credit card is a scam artist. Some people just don't have cash. Others are not going to apply for a personal or business loan. A credit card is convenient, credit is readily available and there are a few other benefits. Some people don't care about the interest rate on a credit card.

Another possibility is that the buyer wants to get whatever rewards come from spending on their credit card (some cards give 1% cashback, or others give 3% back in some type of travel reward or car purchase discount). [adding: after posting, I see someone mentioned card rewards on page 2 of this thread]

But the escrow companies charge an extra 3% (or more?) to process credit card payments, compared to if the buyer pays by wire transfer... is the buyer aware of that, OP?

Plus, you could just tell them that escrow companies generally have a $5000 limit for credit card payments.

 

[CJ6]

I once used a Line of Credit to buy land. It was cheap land, I think I paid $13k. I transferred a Line of Credit to my account and bought the land (same as cash). No need to deal with banks or loans that way. Then, I think I paid it off in 1-2 years. Tell them to get a LoC.

 

[Domainstore]

Sedo.com , has also Escrow service (for xternal transactions) Sedo charges 1,5 %.
in a transaction I saw that somebody payed directly with creditcard to Sedo in the transfer center.

 

[frank-germany]

Sedo.com , has also Escrow service (for xternal transactions) Sedo charges 1,5 %.
in a transaction I saw that somebody payed directly with creditcard to Sedo in the transfer center.

not 1,5% but 3%

and yes creditcard was accepted for 3.5 k €

 

[Paul]

I try to stick to Dynadot whenever possible, so I haven't run into that issue yet--no large sales on GoDaddy for me.

 

[Name Trader]

I try to stick to Dynadot whenever possible, so I haven't run into that issue yet--no large sales on GoDaddy for me.

I'm saying GoDaddy help is basically zero once it becomes an Escrow.com transaction. You cannot get past the "Speak to Escrow.com" mentality. No help whatsoever. Even if they could help by contacting Escrow.com themselves. So you are in a lucky position. I'm not happy to pay somebody their 20% commission, who does zero when a problem occurs.