Escrow.com heads up!

[mad409]

Just a heads up using Escrow.com.

Clicked Cancel domain sale due to transfer issues, security info provided and slow response.

Had issues with the sale, after a week or more I cancelled, won't bore you with the details.

Told buyer/broker it was cancelled but issues were worked out and transferred the domain. Transfer request still showed active at Escrow.com or I would not have done this. It did not show cancelled.

The next day I received an email from Escrow.com it's cancelled but ask them to reinstate upon buyer/broker and seller request.

They said too late, now I've transferred a domain, time will tell if I get paid.

Honestly I thought the cancellation didn't go through since the money was in Escrow, lesson learned. Hopefully I'm not out X,XXX... Get in real-time Escrow.com, wtf!!!!

 

[jideofor]

I don't understand you.

 

[mad409]

I don't understand you.

It's simple.

1. Had domain in Escrow.com
2. Buyer had issues with transfer process, thought I was being stalled.
3. Hit cancel transaction at Escrow.com after more than a week or so.
4. Buyer said you can't cancel it's in Escrow.
5. Went back and looked and it was still active.
6. We worked out the problem and I transferred the domain. Checked Escrow.com and the transaction is still active before doing so.
7. Wake up the next day and Escrow.com has cancelled everything, won't reinstate the transaction although we worked out the issues and transferred the domain.

Hopefully the buyer is honest or I'm out due to Escrow.com cancel not being in real time, BEWARE!

Honestly I thought the cancellation failed or I would have never made the transfer. Again might be a hard lesson learned on my behalf but they should get up to speed with their site as it didn't approve, or show my cancellation was approved.

 

[Shams]

Contact escrow immediately and tell them about the issue. Escrow didn't refund immediately upon cancellation. You still have a chance to reinstate the transaction. Keep us update. Hopefully you will get your money. Keep in touch with buyer too.

 

[Eckhart]

Ouch, I hope you get your money. Tell us how it goes and you may describe in detail, you won't bore anybody if you do.

 

[mad409]

I did 5 calls today. Said CC was refunded, the end. Even provided them with doc's showing where myself and the buyer wanted it reinstated but no.

Again hopefully the buyer/broker will pay or I'm out $x,xxx on this sale due to Escrow.com cancel process not being in real-time, period.

 

[Eckhart]

Talk to the buyer on the phone. I'm rooting for you

 

[mad409]

Talk to the buyer on the phone. I'm rooting for you

All seems ok but who knows, they're waiting for the CC refund. I'll update if I get paid but just warning everyone if you cancel at escrow.com it's not in real-time therefore don't follow through with the transaction regardless what your account shows.

I appreciate your cocernn..

 

[Eckhart]

I'm sure he will pay you, it's the smart thing to do, otherwise you can open a transfer dispute with your registrar.

 

[mad409]

I'm sure he will pay you, it's the smart thing to do, otherwise you can open a transfer dispute with your registrar.

Talked to Godaddy, where it was pushed. That's like talking in the wind, gonna move all my domains from them as soon as I have time.

Lets see what happens but beware of Escrow.com cancel feature not being real-time as it F'd me up and has caused unneeded stress and possibly loss of money.

 

[mad409]

Contact escrow immediately and tell them about the issue. Escrow didn't refund immediately upon cancellation..

Did that, no help to my surprise. And they did cancel but not in real-time.

 

[jideofor]

Godaddy can not do anything in this case... your grace now lies with the buyer if he has a conscience or heart, otherwise, your domain is gone.

Another thing is to tell him to push the domain back to you because you have not received the money pending the problem is resolved.

 

[johname]

Once you start an escrow deal, only do what escrow says from then on as far as timing and let escrow cancel.

 

[Name Trader]

I think you should take some blame yourself for the position you find yourself. The domain was in escrow, Escrow.com had the money. It is highly unusual for the seller to cancel a transaction like that. You found a weakness in their system, in that the cancel was not in real time. I would at least have waited for confirmation one way or the other before continuing to push the domain. After all, you did say you wanted to cancel the transaction. So why did you continue without getting confirmation from Escrow.com first? But having said that. I'm rooting for you and hope it works out for the best.

 

[frank-germany]

thank you for sharing your experience

 

[Abdullah Abdullah]

At first I thought You were saying they are good with the title lol.

Sorry to hear that. I once asked the buyer to cancel the escrow transaction which he started because the sale was not big and we used Flippa escrow without any problems.

I hope it goes well for you. Keep us updated

 

[Jack Chen]

Dear user,

Sorry about the issue. Due to privacy requirement, I have sent you a conversation message to ask for more information about the transactions so we can follow up your issue with further investigation. At Escrow.com, we value all the feedback and opinions from customers not only in our official support channels, but also in other external websites as well.

By writing this message, I would like also to clarify the cancellation process for escrow transactions,

•After both parties have confirmed transaction details in Agreement phase, either party may cancel transaction, only if Escrow has not received Buyer's funds, by sending an email request to [email protected]

•After funds are secured, the cancellation of a transaction can only be done by Escrow.com after notifying both parties.

•And if before agreement was accepted from both parties , you will be able to cancel the transaction from your end straight away.

If you would like to send us an email inquiry or call our support , we will definitely help to resolve the issue ASAP for you with our best effort.

Thanks for your understanding and I look forward to hearing your reply.

You have a good one.

 

[mad409]

I think you should take some blame yourself for the position you find yourself. The domain was in escrow, Escrow.com had the money. It is highly unusual for the seller to cancel a transaction like that. You found a weakness in their system, in that the cancel was not in real time. I would at least have waited for confirmation one way or the other before continuing to push the domain. After all, you did say you wanted to cancel the transaction. So why did you continue without getting confirmation from Escrow.com first? But having said that. I'm rooting for you and hope it works out for the best.

You're correct, I agree it's my fault for being impatient and hitting cancel. But things change in negotiations quickly and deals are corrected and resolved at the drop of a hat as this one was.

I'm merely pointing out that the cancel feature isn't in real time therefore don't get in this position.

Escrow.com reached out today via NP and I've been in contact with buyer and broker. Everyone is working on a solution, looks like this might get resolved.

 

[DU]

You're correct, I agree it's my fault for being impatient and hitting cancel. But things change in negotiations quickly and deals are corrected and resolved at the drop of a hat as this one was.

I'm merely pointing out that the cancel feature isn't in real time therefore don't get in this position.

Escrow.com reached out today via NP and I've been in contact with buyer and broker. Everyone is working on a solution, looks like this might get resolved.

I know it's hard to believe for some domainers to believe but shockingly most people are honest

 

[mad409]

•After funds are secured, the cancellation of a transaction can only be done by Escrow.com after notifying both parties.

I replied to your PM, thanks..

Your above quote is where the system is flawed for domainers, IMO. Time line:

I hit cancel at around 1:00 AM, stayed active on my account, then seller and buyer receives an email from you notifying both parties eight hours later. In short it stayed active within the account and the deal was done and domain transferred as it showed not cancelled. And then you notified both parties the cancellation went through during business hours at 9:15 AM?

I think you provide a great service but this should be looked in to. When cancel is clicked, send an auto email to both buyer and seller saying it's cancelled. And mark it as cancelled in real-time on the site. Again JMO..

 

[mad409]

I know it's hard to believe for some domainers to believe but shockingly most people are honest

I agree but this one is still back and forth therefore who really knows the outcome. Unfortunately sometimes what looks good in the beginning doesn't always work out. I will update when I have more...

 

[mad409]

I'd like to personally thank the Escrow.com support staff for reaching out and getting the transaction reinstated. Buyer paid again and now it's in inspection period so feeling much better now.

Thank you Escrow.com support

 

[Name Trader]

@mad409 - Well done

 

[Eckhart]

so feeling much better now.

Glad to hear.

 

[DU]

I agree but this one is still back and forth therefore who really knows the outcome. Unfortunately sometimes what looks good in the beginning doesn't always work out. I will update when I have more...

Should be more positive But I think the thanks belongs more with the buyer than Escrow.com imho !