question Got an offer to buy, wants to use Escrow but am confused as to what's next?

[BSOD]

So I've normally only dealt with only small domain sales so always did those via PayPal as I wasn't too fussed about getting scammed as it was smaller transactions.

However this time I got approached by a buyer, who wanted to buy something for a higher price and I want to use escrow.com, the buyer is okay with that and asked me if I had an account already, which I did (never actually used it before though).

I gave them the email I used to create the escrow account as from my understanding that serves as your user ID. However since sending that info, I have not heard back from the buyer. I assumed they were going to start the transaction process and I was going to get some sort of message from escrow to take some action towards the deal?

Did I misunderstand something?

Thanks in advance for any advice.

 

[thebutler]

So I've normally only dealt with only small domain sales so always did those via PayPal as I wasn't too fussed about getting scammed as it was smaller transactions.

However this time I got approached by a buyer, who wanted to buy something for a higher price and I want to use escrow.com, the buyer is okay with that and asked me if I had an account already, which I did (never actually used it before though).

I gave them the email I used to create the escrow account as from my understanding that serves as your user ID. However since sending that info, I have not heard back from the buyer. I assumed they were going to start the transaction process and I was going to get some sort of message from escrow to take some action towards the deal?

Did I misunderstand something?

Thanks in advance for any advice.

I'd email them back and say its available to buy on Sedo now with a BIN (ie anyone can buy it). Sedo has an escrow service so you're fine. It'll speed things up if they are serious.

 

[Brandworthy]

Did I misunderstand something?

No. If they created the transaction you'd have received notification from Escrow by email.

You'll probably want to chase, but maybe show a little patience. They could be playing a game with you by delaying, and then "suddenly" deciding the domain is now worth less to them.

 

[Name Trader]

When I'm the seller I always prefer to start the Escrow transaction. That way you control the terms. If you let the buyer control they terms, they may not be to your liking, and then you are back negotiating with the buyer about the terms.

 

[venturefile.com]

What stub said.. Always ask for their Escrow email and you start the transaction.

 

[BSOD]

Thanks for your advice guys, I will definitely handle things a bit differently next time around and am going to touch base with the buyer again soon, fortunately I'm not too upset if it doesn't sell as I had a project lined up for it.

 

[forge]

As the seller, you should be the one setting up the transaction and setting the terms. The buyer can then login and accept terms. Do this and I think you'll move things forward.

Ok, I typed this before reading Stub's post.