Is Escrow req'd for a $xxxx purchase fr reputable seller?

[Paddy]

Seeking advice please....
Is escrow req'd for a $xxxx purchase fr reputable seller?

> About to make a $xxxx purchase from reputable seller (3year user, 20+ iTrader / TR)

> General rule of thumb is to use escrow, are there any ways of minimizing the risk if escrow is not used

> For a quicker transaction (& to save fees).... Has anyone made a lumpy purchase like this & not used escrow?

* Appreciate advice from NPers who have made such $xxxx transactions.

Thanks for all feedback

 

[staskul]

I think, using Escrow is better way to safe your domain

 

[Zeeble]

I would always go with Escrow unless it's someone well known on the forum such as RJ, Scott etc.

 

[Truthman]

As a buyer, I have taken the risk of not using escrow a few times for x,xxx valued domains, these were times when I trusted the seller. I never had any problems.

I have always used escrow when I wasn't 100% certain the seller was reliable.

Escrow is like insurance, you only really need it in a small percentage of cases. Lets say you do 50 deals of $1000 each, escrow takes around 3.25%, which would equal $1625 for all the 50 deals. So if you didn't use escrow and you got ripped off in 1 deal out of the 50 deals. You still would have saved $625. I think the probability of getting ripped off is much smaller than 1 in 50, especially if it is a reputable seller.

Just some of my thoughts

 

[faisj]

I would advice you to use a personal escrow. (for a better escrow price)

But, no matter who etc... always play it safe

 

[Paddy]

I think the probability of getting ripped off is much smaller than 1 in 50, especially if it is a reputable seller.

Just some of my thoughts

Would 3 year (forum) membership + 1000 posts + Perfect Trader Rating (10+) = Reputable seller ?

 

[Truthman]

Would 3 year (forum) membership + 1000 posts + Perfect Trader Rating (10+) = Reputable seller ?

On the surface it does sound quite safe... There is of course the danger that some scammer has hijacked somebody elses NP account.

There are other risks of course for example the seller dies, goes insane, or goes bankrupt before completing the transaction...

Also be sure to be in email/phone contact with the whois listed administrator, so they really are the owner.

Anyway, its really about risk management, if you have doubts use escrow. But if you calculate the risk to be very low, near zero, then you may as well save your money...

 

[Zeeble]

Would 3 year (forum) membership + 1000 posts + Perfect Trader Rating (10+) = Reputable seller ?

Well, that depends on the size of the deals made. It would be impossible for me to judge unless I had actually seen some of theirr posts.

 

[faisj]

GoPaddy it sound good. But, the question you have to ask youself is:

Will you pay for a 'even more' smooth/secure transaction?

 

[scrsteven]

TR can be built up over things as small as making 2 posts on a forum for a few NP, and the TR comments rarely specify what the actual transaction was. I have known ppl with TR 60+ all positive who tried to scam me (and got banned..) so for xxxx transaction I'd definitely do escrow unless it was a forum admin possibly.

 

[len fischer]

I have seen people raise a question is there a minimum amount where using an escrow service is just not worth it?

 

[IAmAllanShore]

Gotta be honest: Escrow.
-RJ- himself could be selling me something and I'd still use escrow, just to make the whole thing easier to track, etc. It doesn't signal "distrust", :imho: , but rather a certain propriety.
Now if Mark was selling me something...
-Allan :gl:

 

[Premium]

I used paypal for an $xxxx purchase and look what happend to me, better safe then sorry! In any case, I got lucky and fought back

Choose Escrow, Split fees, Good Luck! :tu:

 

[AdoptableDomains]

Even as a seller, I generally encourage escrow on anything over $1000. As a buyer, I would always want it unless I really knew something about the seller. If I had conversed with them often and had a feel for their ethics and busines practices, I might consider a straight sale.

Even if you know and trust them it's nice to have a third party record of the transaction. The seller may be good as gold, but have unknowingly purchased from another party who stole it, or someone who let it drop and thinks they still have rights to it. With the third party records you would have some proof as to purchase price, date, and transaction details that might be useful if something didn't go right later. This could happen at the registrar, another party filed a claim (spouse, ex-spouse, former owner, partner, etc), or any number of scenarios.

 

[Paddy]

Thank you all for sharing your insights

Seems like Escrow it is. Have only used escrow.com before, are there any better alternatives, or are they all pretty much the same?

 

[fonzie_007]

I would go with escrow unless the person you are selling to lives within short driving distance (and hence, a potential a$$ kicking...) lol

 

[Luc]

Get on the phone with the person and hear their voice, feel them out and make sure they are legit.

Create, sign and fax them a sellers agreement. Have them fax it back signed along with drivers license so you can see that they are a real person and know their address.

Then attempt the transaction over the phone (if not wiring). If wiring money, send wire and wait for the confirmation. Always keep in contact with seller over phone until deal goes through.

Only do the above with trustworthy people. Proceed at your own risk.

 

[Carlton]

Create, sign and fax them a sellers agreement. Have them fax it back signed along with drivers license so you can see that they are a real person and know their address.

Have done this a number of times with success. Escrow.com fees are reasonable though.

 

[AdoptableDomains]

Afternic and Sedo are okay as well. Just compare prices. I think they do escrow only for a little less than if they actually brought you the buyer from their listing.

 

[Australia]

Thank you all for sharing your insights

Seems like Escrow it is. Have only used escrow.com before, are there any better alternatives, or are they all pretty much the same?

is escrow.com the best??