Escrow and best offer? Kind of like Sedo's "Make Offer"?

[zenmushin]

I am interested in a domain name in which a seller does not deal with any auction vendors (like Sedo, GoDaddy, etc). He seems to sell only through Escrow for Domains.

I wanted to try an approach similar to the "Make Offer" transactions in Sedo. Once the seller is presented an offer in Sedo, he/she has the power to accept or deny the offer.

The seller in question gave me a price which is above my budget. I think that he likely would accept my offer if the funds were already loaded into Escrow. So, I would like to create an "Escrow for Domains" transaction as the buyer. Does anyone know if this is possible? Is there a fee or a penalty if the seller ignores my "offer"?

 

[zenmushin]

Bump.

 

[Name Trader]

Buyer pays the Escrow fees, so you could lose a lot of money making offers that way and the seller not accepting. What makes you think he will accept your offer anyway? I think it's best to deal with them head-on to agree a price before setting up an escrow transaction.

 

[johname]

On escrow.com?

Buyer does not have to be the one paying the fee. (but of course the seller might demand it)

Its agreed by both partys who pays the fee or split. Its not written in stone.

One can tack the fee cost to the price of the domain and have the seller pay the escrow fee. Which would leave the buyer protected if the seller agrees to the terms but then backs out.

Bad news situation (for buyer) would be selecting "buyer pays all fees" then having the seller agree to that. Then have the seller change their mind and not follow through. Escrow.com gets the fees and buyer doesnt get the domain.

 

[discobull]

The seller in question gave me a price which is above my budget. I think that he likely would accept my offer if the funds were already loaded into Escrow. So, I would like to create an "Escrow for Domains" transaction as the buyer. Does anyone know if this is possible? Is there a fee or a penalty if the seller ignores my "offer"?

You can't load the money into Escrow.com until after the seller agrees to the transaction. You can initiate the transaction as the buyer, and it costs nothing. The only time it costs money is if one of you backs out of the transaction after it has been accepted by both parties or if the transaction is completed.

 

[zenmushin]

On escrow.com?

Buyer does not have to be the one paying the fee. (but of course the seller might demand it)

Its agreed by both partys who pays the fee or split. Its not written in stone.

One can tack the fee cost to the price of the domain and have the seller pay the escrow fee. Which would leave the buyer protected if the seller agrees to the terms but then backs out.

Bad news situation (for buyer) would be selecting "buyer pays all fees" then having the seller agree to that. Then have the seller change their mind and not follow through. Escrow.com gets the fees and buyer doesnt get the domain.

Isn't the maximum amount of fees $25? Or, are there multiple steps with multiple fees?

 

[johname]

Isn't the maximum amount of fees $25? Or, are there multiple steps with multiple fees?

No it goes up with the amount of the transaction. $25 is the minimum. But it can be split between buyer and seller.

 

[zenmushin]

Hmm, do they readily publish this fee or percentage? If my offer is $1000, what would be the fee?

 

[johname]

63.00 if there paying "Premier" credit card, paypal
32.50 if "Standard" paying with check

Easy to split the fees or just have buyer pay full fees

 

[discobull]

Hmm, do they readily publish this fee or percentage? If my offer is $1000, what would be the fee?

Fee calculator:
https://escrow.com/support/fee-calculator.aspx