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Namecheap as an escrow?

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DzAH

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The views expressed on this page by users and staff are their own, not those of NamePros.
I haven't use namecheap for a while, so no. Most of my client prefer Escrow.com

Maybe ok within reseller.
 
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anyone tried this?

I just found out.
1. come to an agreement with a buyer
2. list the domain on their marketplace with sale price
3. ?automatic transfer? upon payment (I assume)
4. 10% commission

seems great for buyer and seller!

anyone tried their service? any issues?

more info:
https://www.namecheap.com/support/knowledgebase/subcategory.aspx/15/marketplace


I've actually used this method.
Mainly because the customer didn't know how to use escrow and didn't want to bother with it, he already had a name cheap account, so it worked out pretty well.
 
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@Lyle Great to hear!

I'm in the process of using it right now. Me and buyer have agreed to price and method. Hopefully everything will run nice and smoothly.
 
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Good luck with your sale @DzAH and please do report back how it goes - the more options we have for selling the better.

The domain is not currently at NameCheap, correct? @Lyle - was the domain you sold already at NameCheap?

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Here's some recent related info - you can read the original posts, this is pared down a bit. The bolded part is my new mantra, kudos to @Haris for the great sale and great advice

Sale venue: NameCheap, inbound
. . .
I accepted the offer and told them I could sell the domain through Escrow.com or NameSilo.com's escrow service because of low fees and other benefits. They looked into both services but refused to use them because he wanted to use PayPal to pay and NameSilo doesn't support PayPal purchases that are over $5,000. I also had never used NameCheap marketplace and asked them questions about their marketplace. They receive and disburse payments only via PayPal doesn't matter what the amount is. The only problem was the 10% fees. The buyer had used Namecheap in the past with no problems so he trusted them a lot especially with such a large purchase. Buyer said he is willing to subsidize part of the fees.
. . .
We agreed at USD 5460, in order to split the fees, and I was going to receive USD 4914 after the NameCheap commission. I listed the domain at NameCheap marketplace on July 14 and after making me wait for 2 weeks, buyer paid today. NameCheap has confirmed funds have been received and they'll pay me in 4-5 days.

1] The domain was already registered at NameCheap, correct? If so, then selling in their marketplace was super easy and buyer got push faster than waiting for transfer, correct?

1) Correct, and correct. The only negative was that NameCheap emailed me regarding the sale about 12 hours after the sale. I already had checked my account when the domain sold, but didn't receive an email at that time.

2) Yes I would be required to transfer to NameSilo but that was not a problem. NameSilo.com's escrow fees would be 3% as the buyer would've paid via wire. So, 5200 x 3% = $156 + $43 transfer fees. Would've saved me $86. :xf.grin: No big deal though. Buyers must be comfortable, that should be our priority.
 
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Good luck with your sale @DzAH and please do report back how it goes

Seems..so far so good

Buyer says he has paid, and I see my domain is removed from the marketplace and my account. I haven't received any email/confirmation from namecheap yet though, but that's probably doesn't mean anything is wrong I guess. According to namecheap's FAQ:

When can I manage my domain after purchasing it on your Marketplace?

A domain can be managed once the sale is approved. Usually, it takes up to 48 hours to approve the sale.
 
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I would use NameCheap marketplace if buyer doesn't want to buy the domain from any service except through NameCheap. There are many cheaper and better alternatives like Escrow.com, Payoneer Escrow, and NameSilo.com's escrow which is the best imo.

Thanks @usernamex :hugs: :xf.grin:

I would like to mention that before listing the domain on their marketplace I asked NameCheap support whether there will be any disbursement charges, they told me I won't be charged anything other than the 10% fee, they forgot to mention that they won't cover PayPal fees and when I withdrew the USD 4914 amount I was charged USD 177 in PayPal fees.
 
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This same process is available and works with Namesilo Marketplace as well. And their commission is 7.5% (and as low as 3% for sales > $5K)
 
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Everything went really smooth. All I had to do was to agree on price, and make it available on the marketplace as buy-now. Nothing more.

I initially didnt know about the service on namecheap, and were going to use namesilo. However since the domain was already registered at namecheap + a transfer to namesilo would cost over $40, it made most sense to use namecheap as escrow.
 
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this is nice method to use (registrar marketplace sale) if you want some peace of mind about payment. it is not guaranteed by any means, however, the difference between doing this and getting a paypal payment direct is that your domain is locked after market sale for 60 days.

at least I know this is true on epik.com (confirmed with owner). so if there are payment issues following 60 days of payment (usually enough time to discover issues, or chargeback) and epik gets chargeback, then they take the domain away from buyer and return money to sender.

again,I know this is true for Epik, where commission (if you can call it that) is also only 5%. the best I know of so far. that includes your payout paypal fee. so say you sell dn on their market for $100, you get $100 in full. then to withdraw to paypal they take 5$. so net to paypal = 95$

which btw is only 1$ more than if someone paid you direct to paypal.. given paypal charges 4% fee.

so I'd definitely prefer epik to others.. for one I do not know if nc or others lock the domain for 60 days. cause its an internet lock (not icann). so maybe they do not all do it.

I always use epik for such situations where I want some peace of mind after sale. and like I said its only 1% more than direct pp payment.

cheers, hope this helps.
 
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I have ~$35 that I can't withdraw - their website shows error every time I try to add it as account credit. Support is beyond unhelpful - they actually sent me a link (affiliate link LOL) to some BS malware to "fix" my computer. Of course they refuse to send it to my paypal directly.
 
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again,I know this is true for Epik, where commission (if you can call it that) is also only 5%. the best I know of so far. that includes your payout paypal fee. so say you sell dn on their market for $100, you get $100 in full. then to withdraw to paypal they take 5$. so net to paypal = 95$

Does this mean the 4.8% commission that Paypal charges usually for receiving payments is avoided when withdrawing from Epik? And hence only the currency conversion charge applies?
 
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Does this mean the 4.8% commission that Paypal charges usually for receiving payments is avoided when withdrawing from Epik? And hence only the currency conversion charge applies?

yes true. that is what I said. epik charges you 5% from amount you want to withdraw from epik. substracts it before paypal deposit.. and then gives you all the rest.

example.. u sell bin $100 on their market.
epik puts $100 into your accnt
you say withdraw $100 to your pp
epik takes $5 and puts 95$ into your pp
 
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yes true. that is what I said. epik charges you 5% from amount you want to withdraw from epik. substracts it before paypal deposit.. and then gives you all the rest.

example.. u sell bin $100 on their market.
epik puts $100 into your accnt
you say withdraw $100 to your pp
epik takes $5 and puts 95$ into your pp

Thanks @alcy
Just for my complete clarity, can you confirm the amount that you received in PP (or by corollary, the amount your PP balance went up by)?
 
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last sale I had.. I am in canada.

epik market bin = 315$usd
epik funds after = 315$ usd
pp withdraw amount = 315$ usd
pp deposit = 299.25$ usd


so total charge = 5%

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last sale I had.. I am in canada.

epik market bin = 315$usd
epik funds after = 315$ usd
pp withdraw amount = 315$ usd
pp deposit = 299.25$ usd


so total charge = 5%

Show attachment 67200

Spectacular. Thank you for providing detailed information and the example.
 
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Sold a number of domains via NC Marketplace. Fwd the domains to the landing pages.

Reasonable 10% commission. Many have a NC account so it makes sense to sell through them.
 
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