Escrow.com - Any tips and advice on using them?

[accent]

There have been several posts recommending Escrow.com and a number of others by people having problems with SEDO. Has anyone had any problems with Escrow.com, or would anyone like to share their experiences with them?

 

[angisson]

great the time I used them :tu: always was able to anwser all my questions.

go with Escrow.com :tu:

 

[scandiman]

I have nothing but good things to say about escrow.com

 

[Spade]

Escrow.com is a decent (but probably the best) escrow option available at this time. There are some minor issues that exist within their protocols, but as a whole, the process is 7.5/10

Negatives:

- Hold money for longer than neccesary

- Do not take possession of the domain name

- Too expensive for domains under $250

Beyond that, they have a nice setup. I would recommend them and have used them for all of my escrow transactions.

 

[scandiman]

Negatives:

- Do not take possession of the domain name

I'm curious how this is a negative? Inquiring mind would like to better understand.

 

[Spade]

I'm curious how this is a negative? Inquiring mind would like to better understand.

In a perfect system, the escrow company would take control of both the domain and the money. When both are secured in the hands of the escrow company, they would then be released to the parties.

There have been problems with escrow, when a buyer will acquire the domain name, then quickly change the whois info back to the original owner. When escrow goes to confirm transfer, it still appears to be in the hands of the original owner.

Another reason it is better for the domain to be transfered to the escrow service is for speed. When a buyer submits payment, he then must wait for funds to be secured, then once confirmed, he must wait for the buyer to push the domain name. When an escrow company has both funds and domain, when the funds are secured, they can push the domain instantly.

But dont worry.... Something new is on the way. <wink wink>

 

[peaches017]

I've used them over 15 times and have always had a perfect experience.

 

[scandiman]

There have been problems with escrow, when a buyer will acquire the domain name, then quickly change the whois info back to the original owner. When escrow goes to confirm transfer, it still appears to be in the hands of the original owner.

Thanks for the explanation. That is one dirty trick.

 

[Spade]

Thanks for the explanation. That is one dirty trick.

Yes it is, and its one that scares me to be quite honest. I would hate to lose control of a domain name, and the buyer never releases the funds, claiming they never recieved the domain name.

 

[scandiman]

Yes it is, and its one that scares me to be quite honest. I would hate to lose control of a domain name, and the buyer never releases the funds, claiming they never recieved the domain name.

I've hear Moniker's escrow works by taking possession of both the money and the name, is this true and are there others?

 

[harkster]

My first experience on a mid $XXX transaction --
Mar 7 2007 8:33PM PST
Seller initiates the transaction

Mar 9 2007 9:35PM PST
Buyer accepts merchandise, transaction complete.

Mar 12 2007 8:21AM PST
Funds disbursed. Final closing statements sent to both parties.

The slowest part may well be the USPS -- better known as break it, smash it and lose it inc.

I doubt any service can be totally foolproof but it appears to be a great value for the buck. For high value names it may better to use a service which holds merchandise until funds have been received from the buyer..

 

[Spade]

I've hear Moniker's escrow works by taking possession of both the money and the name, is this true and are there others?

I believe they do as does Sedo's (I believe, someone please correct me If im wrong).

 

[fonzie_007]

I've used Escrow.com about a dozen times. Their customer support seems to be pretty good and I haven't had any problems with my transactions. If you are going to use an escrow service, I'd recommend either escrow.com or Moniker.

 

[domaindevelopers]

Have had very bad experience with escrow.com. I sold a domain name for USD 240. the transaction is over some 2 months back - even the buyer has accepted and ack the domain but am still awaiting the payment. (escrow doesnt have paypal disbursement - so only chq or wire transfer)

had good experience with sedo in terms of payment - recd USD 550 pretty soon via paypal but u need to keep pushing the representative. they are lazy assholes.

 

[scandiman]

Have had very bad experience with escrow.com. I sold a domain name for USD 240. the transaction is over some 2 months back - even the buyer has accepted and ack the domain but am still awaiting the payment. (escrow doesnt have paypal disbursement - so only chq or wire transfer)

had good experience with sedo in terms of payment - recd USD 550 pretty soon via paypal but u need to keep pushing the representative. they are lazy assholes.

Are you located outside the US?

 

[peaches017]

Have had very bad experience with escrow.com. I sold a domain name for USD 240. the transaction is over some 2 months back - even the buyer has accepted and ack the domain but am still awaiting the payment. (escrow doesnt have paypal disbursement - so only chq or wire transfer)

had good experience with sedo in terms of payment - recd USD 550 pretty soon via paypal but u need to keep pushing the representative. they are lazy assholes.

Sorry to hear that, but in fairness, if you knew that Escrow would only disburse funds in a certain way, that's not really their fault.

 

[Domainate.com]

Escrow.com does certainly take some time to disburse...on my MXN.com transaction they took almost a week after the transaction was completed, which kinda took the fire away from getting a nice profit in a 3-day flip. That said, they have been pretty good otherwise. I've always thought Afternic's Escrow was pretty decent, and they can pay out via PayPal. However, going into high-dollar transactions, Escrow.com is cheaper, considerably so for the really high dollar transactions, under 1% vs 3% of Afternic.

 

[Bill1]

I have had transactions totaling $265,000 with escrow.com over the last year and havent ever received a late payment, And i live outside the US , as soon as buyer confirms he receives the payment the funds are in my account the very next day like clock work, The only improvement would be that they actually take possession of the domain , and transfer it to the buyer that adds another level of protection , That being said , id like to add that I am a very happy customer

 

[gingeman]

Agree with almost all that's been said. They should take possession of the domain, although many companies can't push twice within 7 days, and obviously transfers must also be 60 days apart. This would slow the process down, but when your main priority is undeniably security, I think it should be a service offered at least. One thing i will say is that in my experience they have one of the best teams of support staff within the industry, replying to almost any enquiry within 24hrs in a detailed and 'human' way.
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