question Escrow.com: Awaiting payment from enduser

[rvo]

Hello NP'ers,

First time using Escrow.com here, so bear with me.

I have a transaction on hold at Escrow.com, this enduser has initiated the transaction, we both accepted the the terms and now we are at phase 2 of the process "BUYER SENDS PAYMENT TO ESCROW.COM"

It's been a week and I haven't heard from them. I don't know if they already sent the payment to Escrow or they haven't initiated it, will I receive an email either way?

I don't want to push them though, I messaged them once and they said "they're on it" but that was days ago.

What should I do in this case? I already got offers from other people but I'm stuck here...

 

[MisterSoft.com]

Call escrow.com support right away and ask for the update. They'd give you the feedback. All the best

 

[rvo]

Call escrow.com support right away and ask for the update. They'd give you the feedback. All the best

Thank you. I've sent them an email. It's really expensive to call them from my country (Paraguay)

 

[biggie]

just log in and check for payment updates


the buyer knows they are in a negotiation

so be patient, as there could be unforeseen events that caused delay.


but if they don't pay, then move on ....

Good Luck!

imo...

 

[MisterSoft.com]

Thank you. I've sent them an email. It's really expensive to call them from my country (Paraguay)

On the account update, have you seen this comment anywhere?
"buyer made a payment (creditcard/wire)... pending verification"
Then you are in good shape.
If no payment status, then buyer has some issues..
Good luck

 

[rvo]

On the account update, have you seen this comment anywhere?
"buyer made a payment (creditcard/wire)... pending verification"
Then you are in good shape.
If no payment status, then buyer has some issues..
Good luck

This is the last status update:

"Apr 1 2016 3:39AM PDT
Both parties have accepted the offer, awaiting buyer payment."

I have a feeling they wont pay.. this sucks

 

[imc]

Hello NP'ers,

First time using Escrow.com here, so bear with me.

I have a transaction on hold at Escrow.com, this enduser has initiated the transaction, we both accepted the the terms and now we are at phase 2 of the process "BUYER SENDS PAYMENT TO ESCROW.COM"

It's been a week and I haven't heard from them. I don't know if they already sent the payment to Escrow or they haven't initiated it, will I receive an email either way?

I don't want to push them though, I messaged them once and they said "they're on it" but that was days ago.

What should I do in this case? I already got offers from other people but I'm stuck here...

When you first agreed upon the sale, set conditions of sale and terms from your end, before both parties enter into an Escrow. Allow the buyer a reasonable period of time, anywhere from a day to a week, past which, you can inform Escrow. They will send the buyer reminders, after which either Escrow or you, can cancel sale agreement. Just ensure it is not you (seller) who is paying Escrow fees if the agreement is canceled.

for eg I use this note before I start the transaction process. - A mutually accepted Escrow agreement requires payment within ___ days so as to not deny other (possible) interested parties bids and negotiations to domain ownership.

 

[rvo]

Thank you IMC, that's good advice.
Also, I didn't know you had to pay the fees if the transaction times out, is that correct?

The buyer is 100% responsible for the fees in this particular transaction.

 

[iAchilles]

I've waited up to 30 days for Escrow transactions to close. In that particular instance they had an issue with the company card, bank flagged it as a dodgy transaction so then they had to go back and forth with accounting to arrange a wire. I was convinced the deal was dead.

Sit tight for now and if there's nothing come the end of the week, send the buyer a polite email along the lines of...

Hi, I noticed you haven't managed to arrange payment for the Escrow deal. Is there anything I can help you with to guide you through the process? Point out they can also call Escrow support for assistance/questions regarding the transaction.

Unfortunately deals are rarely closed within a matter of days with domain name sales.

 

[MisterSoft.com]

This is the last status update:

"Apr 1 2016 3:39AM PDT
Both parties have accepted the offer, awaiting buyer payment."

I have a feeling they wont pay.. this sucks

The best course of action is to contact the buyer. Communication is very important when you are dealing with domain names.

 

[rvo]

I've waited up to 30 days for Escrow transactions to close. In that particular instance they had an issue with the company card, bank flagged it as a dodgy transaction so then they had to go back and forth with accounting to arrange a wire. I was convinced the deal was dead.

Sit tight for now and if there's nothing come the end of the week, send the buyer a polite email along the lines of...

Hi, I noticed you haven't managed to arrange payment for the Escrow deal. Is there anything I can help you with to guide you through the process? Point out they can also call Escrow support for assistance/questions regarding the transaction.

Unfortunately deals are rarely closed within a matter of days with domain name sales.

Thank you iAchilles. I've contacted Escrow.com's support via chat and they have sent a reminder to the buyer (and CC'd me)

The best course of action is to contact the buyer. Communication is very important when you are dealing with domain names.

You're right. It really is important. I've contacted the buyer a few days ago via Facebook and their response was "Please give our customer service team some time to respond! Thank You!". But that was days ago.

Well, not much to do now...

Thank you all for your support guys!

 

[Cdomains]

You should get an email anytime something happens with the transaction. Your dashboard will keep you updated and tell you when to take the next step in the process.

 

[MisterSoft.com]

You should get an email anytime something happens with the transaction. Your dashboard will keep you updated and tell you when to take the next step in the process.

@rvo
We are all here at NP wishing you well and best of luck that your current sale be successful

 

[Bram C.]

Thank you IMC, that's good advice.
Also, I didn't know you had to pay the fees if the transaction times out, is that correct?

The buyer is 100% responsible for the fees in this particular transaction.

The buyer is always responsible for the fees in case a transaction times out or gets cancelled.

Having said that, if the buyer doesn't send the payment and the transaction times out he will pay zero fees since Escrow cannot enforce payment.

The buyer will only lose the Escrow fee after he actually sends the payment and then decides to cancel the transaction or in case the transaction times out (for example buyer stops communicating after sending payment). Escrow will then return the money to the buyer, minus the Escrow fee.

 

[frank-germany]

This is the last status update:

"Apr 1 2016 3:39AM PDT
Both parties have accepted the offer, awaiting buyer payment."

I have a feeling they wont pay.. this sucks

you can't do anything about them paying you or not
they know what to do next
and as soon as the money appears in escrow
you come to know that
either by email
or if you dont recieve it by bad luck
you will see their interface change after login
telling you payment recieved

 

[rvo]

Thank you all, now I understand clearly how Escrow works

 

[rvo]

Apr 7 2016 10:24AM PDT
Buyer paid by PayPal, awaiting Escrow.com approval.

YES! :D

 

[MisterSoft.com]

Apr 7 2016 10:24AM PDT
Buyer paid by PayPal, awaiting Escrow.com approval.

YES! :D

Awesome Bravo