Escrow Services Cancelled Domain Purchase

[Brandisity]

Does anyone trust this service? They cancelled a transaction with zero explanation of why. It was purchased through a buy it now button. I called their support and they could not have been less helpful and all he stated was, "they are no longer signed up to our site so we cancelled the transaction". What the hell does that even mean? What's the point of using them as a payment processor if they don't actually complete the transaction?

Clarification: Specifically someone purchased a domain from my website using escrow.com as the payment method Via Buy it now button. I accepted the purchase and selected payment method. Was waiting on escrow.com to process the payment. Escrow stated nothing needed from my side. Escrow then cancelled the purchase and sent an email saying so - With ZERO information as to why. I had to call their support number and their Explanation was the Buyer was no longer signed up with their site. On the actual transaction it stated: Transaction items not supported by Escrow.com. The representative stated it was because they were no longer signed up to their website. My point is what is the point of a buy it now button if they are NOT actually buying it now? Also it stated both parties agreed to the transaction.

 

[biggie]

Does anyone trust this service?

Hi

please be more specific, about which service you are referring to.

"they are no longer signed up to our site so we cancelled the transaction"

Hi

it appears the platform that you purchased the name from, no longer uses that escrow service to process transactions.


imo....

 

[Brandisity]

Hi

please be more specific, about which service you are referring to.


Hi

it appears the platform that you purchased the name from, no longer uses that escrow service to process transactions.


imo....

Specifically someone purchased a domain from my website using escrow.com as the payment method Via Buy it now button. I accepted the purchase and selected payment method. Was waiting on escrow.com to process the payment. Escrow stated nothing needed from my side. Escrow then cancelled the purchase and sent an email saying so - With ZERO information as to why. I had to call their support number and their Explanation was the Buyer was no longer signed up with their site. On the actual transaction it stated: Transaction items not supported by Escrow.com. The representative stated it was because they were no longer signed up to their website. My point is what is the point of a buy it now button if they are NOT actually buying it now? Also it stated both parties agreed to the transaction.

 

[biggie]

My point is what is the point of a buy it now button if they are NOT actually buying it now?

Hi

the real point is, that buyer no longer uses escrow.com, so they cannot complete the transaction.

the buy now button is only useful, if the buyer completes the transaction via the payment method chosen.

imo...

 

[DN Universal]

Both the "SELLER" and the "BUYER" have to be signed up to escrow.com

 

[Brandisity]

Both the "SELLER" and the "BUYER" have to be signed up to escrow.com

Do you recommend a different way of completing the purchases like the original registrar or a different escrow? Does this happen often?

 

[DN Universal]

Which ever escrow service you select will most likely require information from both the seller and the buyer. There is no way around that criteria because this process determines how a person get paid their money. The suggestions you made seems feasible and should work out just fine.

 

[Brandisity]

Which ever escrow service you select will most likely require information from both the seller and the buyer. There is no way around that criteria because this process determines how a person get paid their money. The suggestions you made seems feasible and should work out just fine.

I guess my confusion is in the fact that they clicked a buy it now button via escrow api buttons. They have to either login or create an account before it would notify me of the transaction/purchase. I got the email of the transaction and then I logged into escrow and select the payment which was ACH. Then it said awaiting payment from buyer. Then it was cancelled and they said they didn't have an account. Am I missing something? This was my first transaction through escrow. I reached out to their customer service and they were horrible and pretty much said we cannot provide you with any information. If that's the case why would anyone use their buy it now and offer buttons on their site?

 

[DN Universal]

As you mentioned above... "They have to login or create an account". That's the part of the transaction you are accidentally overlooking.

Just because someone clicks the buy now button does not automatically generate a pathway for the funds from the transaction. They have to create an account for where to send the money.

 

[AEProgram]

welcome to the club, it has nothing to do with escrow.com it has to do with people not honoring their word. Many years ago ebay added a feature that if you click buy now you must pay right away and if you don't the item is still available. They added it because many people click buy now and don't end up paying and the listing would get removed.

Even with offers, you can work for months and come to an agreement that the buyer is happy and then they don't respond.

A true buy it now would be a service that once the user clicks, they cannot breath until they complete payment

 

[fadhel]

NO THING CHANGE YOU MISS UNDSTAND SAME BEFORE BUYER AND SELLER MUST singe up to Escrow

 

[Optimal Names]

I guess my confusion is in the fact that they clicked a buy it now button via escrow api buttons. They have to either login or create an account before it would notify me of the transaction/purchase. I got the email of the transaction and then I logged into escrow and select the payment which was ACH. Then it said awaiting payment from buyer. Then it was cancelled and they said they didn't have an account. Am I missing something? This was my first transaction through escrow. I reached out to their customer service and they were horrible and pretty much said we cannot provide you with any information. If that's the case why would anyone use their buy it now and offer buttons on their site?

Sorry to hear this. It happens. A. LOT. More often than you can imgaine. If I only had a dollar for every person who clicked buy-now and never followed through, well, I'd have a chunk of money.

I've had 11 escrow.com cancels since November. In a row. If all cancels since Aug-2024 actually followed through on their buy-now I'd have been able to pay off my mortgage of low 6-figures.

Yes, it sucks but you're not alone.

 

[Optimal Names]

As you mentioned above... "They have to login or create an account". That's the part of the transaction you are accidentally overlooking.

Just because someone clicks the buy now button does not automatically generate a pathway for the funds from the transaction. They have to create an account for where to send the money.

Yes! I wish that there was that additional step where the buy-now click is ready to collect their payment or else the transaction is cancelled. I've told buyers that the domain is still for sale, they're not clicking buy-now and holding up the domain from anyone else clicking buy-now and paying faster. I'd actualy love for marketplaces to demand "earnest money" of 10% which would go toward the sale and LOST to the seller if they back out, much like homes are purchased here in the US.

I realize that sometimes its not easy to get 5-figures together but thats where the communication part comes in. "Hey, I need a week to get my company to move the funds" or something similar. Then, I'll hold the name. But, 100% of the time (in my experience) the buyer goes dark.

I often wonder why they click buy-now. No one is holding a gun to their head. If its their intent to take the domain off the market so we cant sell the names well that isnt happening, at least not with those who are in control of the entire transaction.

 

[pb]

welcome to the club, it has nothing to do with escrow.com it has to do with people not honoring their word.

I had a 30k offer on one of my domains. I wasn't ready to sell for that but it was a good negotiation starter. Unfortunately it ended the next day, with the buyer writing that the offer was no longer on the table, because the wife found out.

 

[Brandisity]

Sorry to hear this. It happens. A. LOT. More often than you can imgaine. If I only had a dollar for every person who clicked buy-now and never followed through, well, I'd have a chunk of money.

I've had 11 escrow.com cancels since November. In a row. If all cancels since Aug-2024 actually followed through on their buy-now I'd have been able to pay off my mortgage of low 6-figures.

Yes, it sucks but you're not alone.

Thank you I appreciate the kind words. This makes a lot more sense to me. I thought when they clicked buy it now they had to create an account. I guess if they do not follow through on even creating an account this happens. I think they shouldn't send any emails at all until they verify a legit buyer. Not a fan of how that all works.

 

[Brandisity]

Yes! I wish that there was that additional step where the buy-now click is ready to collect their payment or else the transaction is cancelled. I've told buyers that the domain is still for sale, they're not clicking buy-now and holding up the domain from anyone else clicking buy-now and paying faster. I'd actualy love for marketplaces to demand "earnest money" of 10% which would go toward the sale and LOST to the seller if they back out, much like homes are purchased here in the US.

I realize that sometimes its not easy to get 5-figures together but thats where the communication part comes in. "Hey, I need a week to get my company to move the funds" or something similar. Then, I'll hold the name. But, 100% of the time (in my experience) the buyer goes dark.

I often wonder why they click buy-now. No one is holding a gun to their head. If its their intent to take the domain off the market so we cant sell the names well that isnt happening, at least not with those who are in control of the entire transaction.

I agree that's a terrible way they have the system setup. Is it better to force a signup to Escrow? I would think not even that would make a difference because they then still need to take the additional step to be verified.

 

[Brandisity]

welcome to the club, it has nothing to do with escrow.com it has to do with people not honoring their word. Many years ago ebay added a feature that if you click buy now you must pay right away and if you don't the item is still available. They added it because many people click buy now and don't end up paying and the listing would get removed.

Even with offers, you can work for months and come to an agreement that the buyer is happy and then they don't respond.

A true buy it now would be a service that once the user clicks, they cannot breath until they complete payment

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Lol I agree! If someone is committing to buy then they should complete the process at one time.