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How escrow service work (Full detail)?

Labeled as question in Domain Beginners started by pol, Oct 7, 2019.

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  1. pol

    pol Established Member

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    HI
    need more info about how they work . i found info on the web but not enough for me

    thank you
     
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  2. Jess Robison

    Jess Robison Member Epik.com Staff

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    @pol check out Epik's Escrow Service here: https://www.epik.com/services/escrow/ It is a straight forward process. Once the form is filled out, @Rob Monster from Epik will reach out to the seller and buyer and give next steps which consist of getting the domain to Epik (if not already there) and the buyer funding their Epik account. Once funds are received and the domain is at Epik, the Epik rep will deliver the domain and payout to the seller. It is a smooth and painless process. If you have further questions you are welcome to email into [email protected].

    If you do not have an Epik.com account, I would encourage you to sign up and take a look around!
     
  3. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

    Go to Escrow.com and READ their terms of service and get full understanding of how Escrow works

    Sedo.com also has an Escrow service.

    imo….
     
  4. Don Gondon

    Don Gondon Established Member

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  5. Jess Robison

    Jess Robison Member Epik.com Staff

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    @Don Gondon yes, we can assist with and keep all parties names and contact information confidential. When the Epik Escrow form is filled out, there is a message box where you can list you would like to keep all information between buyer and seller confidential and we will respect that.
     
  6. Don Gondon

    Don Gondon Established Member

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    I don't think Epik has any bad intentions, but this is very sensitive business and I'm sure anyone would prefer a public legally binding confidentiality clause first, and sharing the parties' details and the domain name only after that.
     
    Last edited: Oct 21, 2019
  7. Jess Robison

    Jess Robison Member Epik.com Staff

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    @Don Gondon I have alerted @Rob Monster to this thread as he handles the Epik Escrow Service and will be able to comment further here. Thank you for your feedback.
     
  8. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Happy to get on a call and clarify any open points.

    We have some major upgrades coming related to transaction dashboard and ability to manage and redeem funds from your sale through our sister brand called Masterbucks.com.

    I suggest you check out this thread:

    https://www.namepros.com/threads/if...scrow-you-are-wasting-time-and-money.1119508/

    If you still have questions, of course happy to address. Otherwise, just start a transaction here:

    https://www.epik.com/services/escrow/

    Each transaction is a concierge transaction at Epik.

    For those who don't need any handholding, we do have an escrow API. That documentation is here:

    https://docs.userapi.epik.com/v2/
     
  9. topdom

    topdom Established Member

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    I don't like Escrow.com's service, not only because they require something like ID, but also their business model is risky. Buyer pays to escrow, then seller transfers domain to buyer, and buyer informs escrow about it, and escrow releases money. What if buyer pays for the domain, gets the domain, and doesn't inform the escrow service, or worse, says I didn't get the domain. Sedo has the same problem, but this is much less likely to happen there, because authcode is given to Sedo first, not to the buyer directly..

    Epik's model is safe: Both money and domain is at Epik, and they are switched. Problem with it: Buyer may not want to get the domain at Epik, and insist on Godaddy. Or domain might be under 60-day lock, and moving to Epik quickly may not be possible. This problem can be bypassed if Epik creates accounts at other registrars.
     
  10. Escrow.com Support

    Escrow.com Support Member Escrow.com

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    Escrow.com verifies the receipt and transfer of domains first. After we confirm that the buyer received the domain, and once we verify that the domain has been transferred to the buyer or the buyer's inspection period has ended without the buyer further updating us, we will release the funds to the seller. We also offer Domain Concierge Service in which we will hold the domain securely in our registrar account throughout the transaction. Please refer to https://www.escrow.com/domains/domain-concierge for more information.
     

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