Epik is redefining Escrow

[Dream Domains]

We just learned that Epik does not charge escrow fee if transaction gets cancelled.

We used Escrow.com before and were charged full escrow fee when the seller decided to walk away from the transaction. So we lost money.

Epik escrow eliminates this risk.

Take notice!

 

[Bernard Wright]

That is an excellent point. for example, if a buyer knows possibly before giving a firm offer or late in the process he cannot transfer to Godaddy (as most of them want to do in my experience) who is comfortable with and trusts GD and already uses GD for other domains he could easily become negative and possibly even cancel a deal.

Maybe so. But that's a bit of a derailment. If a sale were lost, it would be unfortunate, yes. But this hypothetical does nothing to support the claim that Epik's lack of accreditation is a possible risk to the transacting parties.

To get this discussion back on course: OP stated that one benefit of using Epik is the lack of escrow fees if a sale falls short. So, *one point* for Epik there. But some suggest that Epik is not accredited, and therefore, *minus points*.

Buyer perceptions might be influenced, as DapperJane proposes, or they might not. That's subjective, and is up to the buyer's attitudes, which cannot be predicted or controlled. What concerns me is the difference between a perceived benefit and an actual benefit of accreditation. Objectively, what are the benefits we're missing out on if we go with Epik escrow?

 

[korganian]

That is an excellent point. for example, if a buyer knows he cannot transfer to Godaddy (as most of them want to do in my experience) who is comfortable with GD and already uses GD for other domains he could easily become negative and possibly even cancel a deal.

That is a valid point, but the domain being at Epik is the very factor that makes the transaction so fast and secure. A buyer can always just wait 60 days and then transfer the domain anywhere else if they wish.

I have experienced the opposite though. I have had corporate buyers who had all their other business domains at Godaddy decide to transfer all their other domains to Epik after they had such a great experience using Epik to manage the domain they purchased from me.

 

[Mister Liquid]

I find it more intriguing you post in every Epik thread trying to defend stuff that doesn’t hold up. In the escrow thread itself, you were posting more than rob on the subject as if you were an Epik spokesman.i saw an actual lawyer in thread explaining stuff.

Do you want to tackle the points or just divert? I brought up 4 relevant, on topic questions, tackle them.

Want to know why I wont use escrow.com any more? They require that I send in PII over the wire, fax, whatever way. They do not explain how they will keep my personal data safe, what security procedures are in place to secure my PII so that the possibility of identity theft is kept to a minimum. Instead, they keep insisting that I send in documents or have someone take a photo of myself holding said documents. Sorry, I am not going to do that. I dont care about KYC. My banking institution vetted me, that should be good enough for anyone asking to do business with someone (at least in the USA). No one can open an account without providing significant documentation. There is absolutely no reason escrow.com needs a photo of me standing there holding my personal information. Not gonna happen. I closed my flippa account over that and I will stop doing business with anyone who insists on this behavior - regardless if its required from my completely incompetent government.

 

[DapperJane]

And again this.

Buyer wants to buy a domain, we agree on a price but then I add , it can only be thru Epik. They say they want it at godaddy or dynadot or another registrar. I say only Epik.

Escrow.com or another actual accredited escrow, buyer can have his choice. Forcing a buyer onto 1 is just not helpful in closing.

Korganian just posted “a buyer can just wait 60 days”

Do you actually sell domains? This is not good, when you don’t have to do that.

It makes no sense whatsoever in limiting a buyer in where they can get the domain.

 

[Mister Liquid]

You just skipped the questions as well. It’s another I like rob post. So who has the agenda here? All 4 questions are legit and on topic. Why the struggle to answer them?

I find it more intriguing you post in every Epik thread trying to defend stuff that doesn’t hold up. In the escrow thread itself, you were posting more than rob on the subject as if you were an Epik spokesman.i saw an actual lawyer in thread explaining stuff.

Do you want to tackle the points or just divert? I brought up 4 relevant, on topic questions, tackle them.

Wow, do you've apparently done your targeted homework - havent you. Its so obvious. I gave you my reasons - now go ahead and tell me I am wrong to want to safeguard my personal information from a company that doesnt respond to people nicely on here - sometimes goes away for weeks and ignores questions they dont like, etc. Haven you read those posts too? Are you going to go around and tell people to stop doing business with Godaddy or Sedo or Undeveloped or others places that allow me to sell a domain name and for them to collect payment and wait for that name to be in the hands of the buyer and then provide me with that buyer's payment? If you dont chastise Godaddy, Sedo, Undeveloped and others then you've certainly got a clear agenda. Apparently I am not the only one who's noticed. And no, I dont have have one domain name registered at Epik at the moment.

 

[namemarket]

.....There is absolutely no reason escrow.com needs a photo of me standing there holding my personal information....t.

That is news to me and agree it is a negative requirement however I find it odd escrow has never asked me for it. I wonder what it depends on?

 

[DapperJane]

Wow, do you've apparently done your targeted homework - havent you. Its so obvious. I gave you my reasons - now go ahead and tell me I am wrong to want to safeguard my personal information from a company that doesnt respond to people nicely on here - sometimes goes away for weeks and ignores questions they dont like, etc. Haven you read those posts too? Are you going to go around and tell people to stop doing business with Godaddy or Sedo or Undeveloped or others places that allow me to sell a domain name and for them to collect payment and wait for that name to be in the hands of the buyer and then provide me with that buyer's payment? If you dont chastise Godaddy, Sedo, Undeveloped and others then you've certainly got a clear agenda. Apparently I am not the only one who's noticed. And no, I dont have have one domain name registered at Epik at the moment.

You didn’t tackle my 4 questions either and read the title of the thread, that’s what I’m talking about. I haven’t had issues with sedo, escrow.com. Again, why are they getting the big sales with other options out there?

 

[Mister Liquid]

That is news to me and agree it is a negative requirement however I find it odd escrow has never asked me for it. I wonder what it depends on?

I have no idea what the requirements are and why, it definitely seems to be different for each person (at least way back when they decided to enforce KYC). When I asked why, and found out that they actually banked with the same bank as I bank at and told them I was already vetted by my bank, they stopped replying. This was 2 years ago? Its been a while - I have not done business with them since. I also noticed other escrow services were suddenly vanished. Something is not right and I want nothing to do with it.

 

[Mister Liquid]

You didn’t tackle my 4 questions either and read the title of the thread, that’s what I’m talking about. I haven’t had issues with sedo, escrow.com. Again, why are they getting the big sales with other options out there?

And I wont. I dont know who you are but you dont get to sign in a few days ago and demand anything from me. Have fun trolling Epik / Rob Monster posts - its obvious. Bye bye.

 

[DapperJane]

I have no idea what the requirements are and why, it definitely seems to be different for each person (at least way back when they decided to enforce KYC). When I asked why, and found out that they actually banked with the same bank as I bank at and told them I was already vetted by my bank, they stopped replying. This was 2 years ago? Its been a while - I have not done business with them since. I also noticed other escrow services were suddenly vanished. Something is not right and I want nothing to do with it.

I’m glad you found other options but your issues are your own, not mine.

It’s very simple, I’m not going to limit a buyer on where they can take a domain, I’m not interested in throwing up unnecessary hurdles to get a sale when you don’t need too.

 

[Dream Domains]

From what we know, if the domain is with Epik and the buyer pays by wire or crypto, the escrow is free.

If the domain is outside Epik, there is a fee, but not in case of a failed transaction.

 

[oldtimer]

The changes in Whois has reshaped the landscape of domain Industry by a lot, it doesn't matter which registrar the domain is at it makes it easier for the transfer to the buyer to take place inhouse. IMO

 

[Mister Liquid]

I’m glad you found other options but your issues are your own, not mine.

It’s very simple, I’m not going to limit a buyer on where they can take a domain, I’m not interested in throwing up unnecessary hurdles to get a sale when you don’t need too.

My issues ARE my own - and I dealt with them. Apparently you have not dealt with yours yet.

No one even knows who you are - that "you're not going to limit a buyer on where they can take domain...." has zero merit in this discussion. Its quite difficult to even discuss anything with you. You sign up a week ago, jump right into Epik / Rob M posts and are highly critical... You think we were born yesterday? Good bye, I am not responding anymore.

 

[equity78]

And I wont. I dont know who you are but you dont get to sign in a few days ago and demand anything from me. Have fun trolling Epik / Rob Monster posts - its obvious. Bye bye.

Look who's account is closed.

 

[Mister Liquid]

Look who's account is closed.

What does auto-closed mean? Was that done by the user or by the NP staff is what I mean...

 

[oldtimer]

What does auto-closed mean? Was that done by the user or by the NP staff is what I mean...

I believe there is a limit on how many posts new members can make, so it might have been done automatically.

 

[Dandelion]

That is a valid point, but the domain being at Epik is the very factor that makes the transaction so fast and secure. A buyer can always just wait 60 days and then transfer the domain anywhere else if they wish.

I have experienced the opposite though. I have had corporate buyers who had all their other business domains at Godaddy decide to transfer all their other domains to Epik after they had such a great experience using Epik to manage the domain they purchased from me.

The truth is that Rob is quite flexible though. I had one transaction at Epik in which the buyer wanted to transfer to Namecheap immediately. Rob simply override and let him transfer. Cased closed.

You can't find such flexibility elsewhere.

And for those haggling about escrow license. Well, that is just a way to put extra money into the government pocket. It doesn't guarantee anything. Real escrow is about trust and security and Epik has those in abundant. Then the CEO's flexibility and involvement with the domain community is a beautiful extra.

We aren't defending Epik for nothing. We are defending based on experience, and nothing beats good customers experience, accredited or not. Epik already has enough licenses and accreditation to cover all domain transactions, similar to Godaddy.

 

[Mister Liquid]

What does auto-closed mean? Was that done by the user or by the NP staff is what I mean...

Regarding the "auto-close" I found this https://www.namepros.com/threads/an...st-be-put-in-place-asap.1093193/#post-6828361

 

[Mister Liquid]

The truth is that Rob is quite flexible though. ........... You can't find such flexibility elsewhere..

Bingo.

 

[Cal2]

Which doesn’t change the fact it’s who the big boys use, anybody, even smaller transactions.

You skipped over the other points brought up, care to tackle them?

You think it could help or hurt a sale by giving a buyer only 1 registrar option?

Do you think they should be accredited?

Do you understand the difference between marketplace transaction and an actual escrow?

Would you buy your domains at a registrar that wasn’t accredited?

On your 'big boys': Good for them. Let them keep using whoever they want.

On your 4 points: Maybe you'd have a point, if you were talking about a company other than Epik. Epik has given me no reason not to trust them, and a # of reasons why I should. They don't seem to need some accreditation to treat their clients decently, honestly.