Escrow.com - 7 days inspection period?

[stupot]

Hi guys,

I'm just about to accept some terms for a domain name sale via escrow.com and am wondering is 7 days for the inspection period normal and what does this actually mean.

I am the seller. If I sell them the domain name and change the registry details into their name then wouldn't they have the domain for 7 days without me having the money?

I'm new to this so don't want to make a mistake at the final hurdle.

What stops them from changing the registry details of the domain to something else once they have control of it and saying i never gave them the domain name?

Thanks,

Stupot

 

[hookah]

If you're in touch with a buyer, you can quickly finalize a transaction as he must accept he received a domain. Look below how fast it can happen as in one of my past deals.
However, once I was waiting over a month for a payment transfer from Escrow even we both finalized a transaction and they disbursed a payment after my few emails concerning the transaction. I know with some ccTLDs it lasts a little bit longer than with gTLDs although I've never experienced anybody or Escrow denying my domain push to a buyer's account.


Apr 26 2005 7:53AM PDT
Buyer received merchandise. Inspection period starts.

Apr 26 2005 7:55AM PDT
Buyer accepts merchandise, transaction complete.

Apr 26 2005 11:20AM PDT
Funds disbursed. Final closing statements sent to both parties.

 

[onlinelife]

Hi guys,
What stops them from changing the registry details of the domain to something else once they have control of it and saying i never gave them the domain name?
Thanks,
Stupot

Escrow will have fund in escrow, so in this case they will notice whois data change!

 

[SpareDomains]

you can change the inspection period from 1-10 days on your end before you send the buyer the invoice, no reason to keep it that long unless you are selling the domain based on a claim of traffic and are letting the buyer verify that the domain does have type in traffic.