advice Need advice: Seller refuses escrow for 700$ domain purchase

[Paperhand]

I am in a tricky situation regarding a domain purchase. I agreed on the price 700$ with the seller for a domain that is not listed on any platform, but has a custom lander with contact info. The seller insists on selling directly via contract and wire transfer. He refuses to use any escrow or domaining platforms, even after I offered to take on all fees. WHOIS shows the seller's IT company in Switzerland, which looks active and legit. The domain history confirms he has owned it for the past 5 years. He has some niche domains listed on his company site, including this one. He sent me a proper contract, but it lacks any timeframe within which he must transfer the domain after receiving payment. He just wrote in the last email that he would send me the transfer code upon receiving payment.

So I am quite stressed about this: the domain is the perfect fit for my project (I am not buying it for resale) and I don't want to miss this opportunity. However, I would have zero security after wiring the money that he will fulfill his end of the deal. And there's not much I could do if he doesn't, as legal action wouldn't be worth it for this amount. Besides the obvious possibility of a scam, I can imagine that he just doesn't want to be bothered with dealing with platforms, and that he has his standard procedures. Being in Switzerland, maybe 600 CHF is just not worth the hassle to him.

My gut tells me to do the deal, as I'm fairly confident this business is active and legitimate (5-year domain ownership, active website, proper contract). However - what if he's undergoing bankruptcy? I tried calling the phone number on his website without success, though I myself rarely answer calls from foreign numbers due to spam. Have you dealt with similar situations? I know no one can tell me what to do, but how would you approach this decision? I really need this domain for my project as other options are significantly worse.

Thanks for any advice!

 

[Kyle Tully]

For me I guess a lot comes down to how much $700 means to you.

If it's an insignificant amount and you really want the name and the seller is stubborn then it might simply be worth the risk of sending the money and hoping for the best.

Assuming you've done all the due diligence you realistically can for a $700 purchase at some point if they won't budge then it's take it or leave it and write it down to a lesson learned either way.

But I'm somewhat of a risk taker when it comes to these sort of things A larger deal would be a different story but sub $1k it's hard to stress too much about imo.

 

[pb]

Since it;s a business, just ask them for an invoice (or a proforma) and pay it.

 

[korganian]

I am in a tricky situation regarding a domain purchase. I agreed on the price 700$ with the seller for a domain that is not listed on any platform, but has a custom lander with contact info. The seller insists on selling directly via contract and wire transfer. He refuses to use any escrow or domaining platforms, even after I offered to take on all fees. WHOIS shows the seller's IT company in Switzerland, which looks active and legit. The domain history confirms he has owned it for the past 5 years. He has some niche domains listed on his company site, including this one. He sent me a proper contract, but it lacks any timeframe within which he must transfer the domain after receiving payment. He just wrote in the last email that he would send me the transfer code upon receiving payment.

So I am quite stressed about this: the domain is the perfect fit for my project (I am not buying it for resale) and I don't want to miss this opportunity. However, I would have zero security after wiring the money that he will fulfill his end of the deal. And there's not much I could do if he doesn't, as legal action wouldn't be worth it for this amount. Besides the obvious possibility of a scam, I can imagine that he just doesn't want to be bothered with dealing with platforms, and that he has his standard procedures. Being in Switzerland, maybe 600 CHF is just not worth the hassle to him.

My gut tells me to do the deal, as I'm fairly confident this business is active and legitimate (5-year domain ownership, active website, proper contract). However - what if he's undergoing bankruptcy? I tried calling the phone number on his website without success, though I myself rarely answer calls from foreign numbers due to spam. Have you dealt with similar situations? I know no one can tell me what to do, but how would you approach this decision? I really need this domain for my project as other options are significantly worse.

Thanks for any advice!

Tell him you will be glad to use his platform to make the payment as soon as the domain is transferred to your registrar account.

 

[alcy]

where is domain???

most registrars offer quick buynow setup for owner. 2 seconds to do

u click buy.. pay.. he gets money asap then can wire it..and u get name pushed asap

its actually easier than wire plus transfer code

tell him this

plus pay fee

if he doesnt agree it's a scam.
cause there is no reason to not agree to this

if register doesnt allow tell him to transfer it to dyna or sav. then make the buynow

gl

 

[Wesley S]

say no unless you can use escrow or crypto. ty.

 

[Wesley S]

or maybe risk less and say you dont send more than $500 direct to anyone.

 

[alcy]

say no unless you can use escrow or crypto. ty.

he cant get back crypto bro

 

[STIJL]

A company won’t pay an escrow fee for a $700 purchase? This is a red flag.

 

[alcy]

For me I guess a lot comes down to how much $700 means to you.

If it's an insignificant amount and you really want the name and the seller is stubborn then it might simply be worth the risk of sending the money and hoping for the best.

Assuming you've done all the due diligence you realistically can for a $700 purchase at some point if they won't budge then it's take it or leave it and write it down to a lesson learned either way.

But I'm somewhat of a risk taker when it comes to these sort of things A larger deal would be a different story but sub $1k it's hard to stress too much about imo.

every one is risk taker who xan afford to be. whether crypto or anything.

obviously is op is asking this then he probably cant put 700 on black and spin the roulette

 

[Wesley S]

see if you can use paypal, so if he doesnt give you the domain you can request a refund.

 

[Kyle Tully]

A company won’t pay an escrow fee for a $700 purchase? This is a red flag.

Its sounds more like the guy isn't familiar with escrow services and is used to doing business with his own contract and wires. I've dealt with a few people like this over the years.

 

[Wesley S]

shady, defensive, move on or risk it. Its your call not ours.

 

[johnn]

The problem I can see is you sound like you desperately need the name. Even if you really need it just don’t show it to the seller.
Get back to him and say:
I don’t really want the name anymore unless you want to go to escrow. Get back to me when you ready for escrow otherwise good bye.

 

[homebuyer]

I am in a tricky situation regarding a domain purchase. I agreed on the price 700$ with the seller for a domain that is not listed on any platform, but has a custom lander with contact info. The seller insists on selling directly via contract and wire transfer. He refuses to use any escrow or domaining platforms ...

"I have here in my hand a piece of paper which bears a signature which makes it clear that there is no intention to go to war," Neville Chamberlain said after signing the Munich Agreement. He believed that paper guaranteed peace. But we know how that turned out.

It's like wiring $700 to a seller before you get the domain. Sure, everything might seem legit—the seller looks good, the contract seems fine, and the domain is perfect for your project. But you're trusting that promise without any real protection.

Neville chose peace through a weak piece of paper. You should choose peace through strength, with peace being peace of mind and strength being escrow.

 

[forge]

Its sounds more like the guy isn't familiar with escrow services and is used to doing business with his own contract and wires. I've dealt with a few people like this over the years.

With the KYC requirements for Escrow, I wouldn't want to waste my time either.

 

[bmugford]

I am in a tricky situation regarding a domain purchase. I agreed on the price 700$ with the seller for a domain that is not listed on any platform, but has a custom lander with contact info. The seller insists on selling directly via contract and wire transfer. He refuses to use any escrow or domaining platforms, even after I offered to take on all fees. WHOIS shows the seller's IT company in Switzerland, which looks active and legit. The domain history confirms he has owned it for the past 5 years. He has some niche domains listed on his company site, including this one. He sent me a proper contract, but it lacks any timeframe within which he must transfer the domain after receiving payment. He just wrote in the last email that he would send me the transfer code upon receiving payment.

So I am quite stressed about this: the domain is the perfect fit for my project (I am not buying it for resale) and I don't want to miss this opportunity. However, I would have zero security after wiring the money that he will fulfill his end of the deal. And there's not much I could do if he doesn't, as legal action wouldn't be worth it for this amount. Besides the obvious possibility of a scam, I can imagine that he just doesn't want to be bothered with dealing with platforms, and that he has his standard procedures. Being in Switzerland, maybe 600 CHF is just not worth the hassle to him.

My gut tells me to do the deal, as I'm fairly confident this business is active and legitimate (5-year domain ownership, active website, proper contract). However - what if he's undergoing bankruptcy? I tried calling the phone number on his website without success, though I myself rarely answer calls from foreign numbers due to spam. Have you dealt with similar situations? I know no one can tell me what to do, but how would you approach this decision? I really need this domain for my project as other options are significantly worse.

Thanks for any advice!

I assume you contacted the domain owner?

I doubt there are many scammers in Switzerland waiting for people to contact them about a domain, only to scam them for $700.

I don't really blame someone for not using Escrow, as the KYC is kind of a pain in the butt for a small dollar transaction.

A contract for a $700 transaction is barely worth the paper it is written on though.

Taking legal action, especially in a foreign country, would be so expensive it would be pointless.

So, it's kind of a crapshoot if the owner is not willing to use some other method.

Brad

 

[pb]

With the KYC requirements for Escrow, I wouldn't want to waste my time either.

You're thinking of escrow.com. But there is also Sedo Escrow, which might be both more familiar to a European entity, and less annoying to use.

 

[bmugford]

You're thinking of escrow.com. But there is also Sedo Escrow, which might be both more familiar to a European entity, and less annoying to use.

I generally use an escrow service or marketplace and pretty much never do direct wires.

However, in many other places in the world direct wires are far more common.

I know some domain investors (mainly in Europe) that make end user sales using wire transfer.

It's not that crazy to ask for that and not have to hassle with a bunch of extra effort, especially if you are not an active domain seller.

Brad

 

[louddrums]

I've dealt with a buyer in Switzerland, and one in Norway and they tend to use contracts/attorneys. One actually mocked escrow.com ($10,000 transaction) and said they never heard of it and don't really trust that. They were very risk adverse and thought it was scammy. So that's the point of view those guys tend to have. Just do as much due diligence as possible til you're comfortable.