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Escrow.com and Domain Holding Transaction

Located in Escrow Service Reviews, started by Cal734, Aug 10, 2020

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662

  1. Cal734

    Cal734 New Member

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    Anyone using their domain holding to sell a domain name? If buyer manages the DNS can this give them an advantage to scam someone by re-selling the domain name before the domain holding contract is completed?

    I am looking at all angles to protect myself as the seller.

    Thanks.
     
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  2. 7363824

    7363824 Restricted (85-100%) Gold Account

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    I have used it. If they manage the dns that just means they tell escrow.com what nameservers to use and they thrn can self manage the dns using those nameservers. They have 0 access to the domain. Only escrow.com has access to manage the domain during the holding period.
     
  3. Samer

    Samer Top Contributor VIP

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    i have not used it.

    Way better cheaper options dont use their bs

    Escrow.com — No innovation, still living off DN
    Best advantage is “brand awarness”
     
    Last edited: Aug 10, 2020
  4. Internet.Domains

    Internet.Domains Account Closed (Requested) VIP

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    Several other options that has faster payouts, more efficient transfer options, and most importantly much more security to protect buyer and seller.

    If your selling a tractor on ebay, maybe use something else. For domains, use a domain company that specializes, in domains.
     
  5. Escrow.com Support

    Escrow.com Support Established Member Escrow.com

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    Hi Cal734,

    In using Escrow.com, the domain would be in Escrow.com's domain holding service posession so the Buyer will not be able to sell it to anyone else. DNS only allows access to the domain, not ownership. If the contract is complete and payment's not made, the Seller can start cure period. Once the cure period ends and no payment has been made, we would transfer the domain back to the original owner of the domain (Seller).

    If you want to discuss this further, feel free to contact us at [email protected] or you can DM us.

    Thank you.
     
  6. inforequest

    inforequest Established Member

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    Hello. I am preparing to sell a domain with a 3 month domain name holding but I am confused by the “who manages the DNS” feature. Per agreement the buyer will not be permitted to use the domain in any way until the domain has been paid for in full and transfer to their account is complete. Therefor would selecting “escrow.com” be the correct selection under “who manages the DNS” if I do not want the buyer to access DNS?

    As the seller, why don’t I have the option to turn “manages the DNS” off?

    Thanks
     
  7. Escrow.com Support

    Escrow.com Support Established Member Escrow.com

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    Hi @inforequest,

    If the Buyer is managing DNS, it means that the Buyer provides us with name servers needed to have the domain name zone file point to their hosting company. That way, they have the needed domain to actually build content on to the domain name. This is $25/month for your domain name holding transaction.

    If Escrow.com is managing DNS, on the other hand, we will inform the Buyer that we need to set the nameservers to default so we may access the zone files. Buyers may send us requests to change any record on the file. It's $40/month if we are managing the DNS.

    In a domain name holding transaction, you will need to transfer the domain to one of Escrow.com's registrar accounts where you will be assisted by our DNH specialists, which is why there's no option to turn the "who's managing the DNS" portion off (it's only either the Buyer directly managing the DNS, or us, Escrow.com).

    If you do not want the Buyer to access DNS, the second option (Escrow.com managing DNS) should be selected. You can also specify any other instructions in the executed agreement which both parties will need to sign prior to the Buyer sending the first payment in schedule to us.

    For other domain name holding inquiries, feel free to reach out to us here or through our DNH team via [email protected]. Hope this helps. :)
     
    Last edited: Sep 24, 2020 at 5:23 AM
  8. inforequest

    inforequest Established Member

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    Very helpful. Thank you!

    Also I have a question regarding payment terms for a domain name holding. My buyer has agreed to pay me $1000 upfront in a non refundable deposit and then has 90 days to pay the balance of $4000. After the domain has been transferred to the account, but before the buyer has paid the $4000 balance, will the $1000 be released and transferred to me? This is what the buyer and I have agreed on.

    Thanks again
     
  9. Escrow.com Support

    Escrow.com Support Established Member Escrow.com

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    You're welcome! :)

    For DNH transactions, generally, the 1st payment would have to be received from the Buyer first including the escrow fees and holding fees (depending on the agreement). After which, Escrow.com will be purchasing the domain name to one of our registrars and that's when the transfer starts from your - the Seller's - registrar to one of ours. Once we have successfully acquired the domain name in our registrar (which means we are then holding the domain name), our DNH specialists will send the disbursement request to our Payments Team and the transaction will be updated to reflect the 1st payment released. If this $1000 upfront will be the 1st payment, both parties will just have to specify that in the signed agreement, and then whatever the succeeding payments will be for as scheduled.

    We had one of our DNH Team Lead look into this as well and we'll PM you with more details as soon as we got his update (due to time difference, please allow 24 hours and we'll provide you with more information via direct message).
     

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