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!

 

[Paperhand]

who else notices we spent 78 hours replying to him and helping and bro seems totally mia

Like many of us here, I am covered in work and family stuff, sorry for the delay, and also I'm in Europe so the time zone difference comes in hard. And as I said, I am overwhelmed with all your help!

There has been no call so far, and I will let the whole thing sink in over the weekend. Come Monday, I will just listen to my gut and my mood and wire the money (with an email notice and the underwritten contract) - or not. Besides all speculation the question that I just can't wrap my mind around is: this guy is selling domains, without any obvious success, and at prices that can't be financially really relevant to him. Yet he IS selling, answering the emails, and even handing out a contract. And he just won't do the smallest thing besides his routine to enhance his chances, even if the sale is so close. I just feel like having to solve an otherwise not that hard puzzle that's just missing some pieces.

And thanks @forge: this is what is bothering me most: I just wanted to buy a f*ing domain. Now I am stuck with my thoughts at this swiss gentleman, instead of focusing on real work. at least for the last days - I'm done with that. And it is go time already for the project, which is quite a big one. I got another domain secured, B+ instead of the clear A, but hey, it's just a domain... Also thanks to the other member with the offer to risk his own money and pass it on to me with a reasonable bonus: appreciate the offer but I want to keep the moving parts at a minimum.

I will keep you informed, even if it may take a bit longer. big thanks again to all.

 

[Cush]

From the point of view of someone who has bought and sold via Escrow, I absolutely hate it. There is a ton of security for both the buyer and the seller, but that security comes at a cost, which is time and money. Nothing is instant with most Escrow services. As a seller, especially for a low dollar name, dealing through Escrow is not worth the time or effort, not to mention the fees.

For example: Say you are selling me a name for $500 on escrow.com. I have to send them the funds, which has always entailed multiple emails to support for help. So figure 1-2 days time with back and forth emails with their support team, then I send them the money. It can take a few days to credit it, then once they credit it, you push the name, I confirm, they verify and release the funds, which then can take a few days to process to your bank. Once all is said and done, between the time spent negotiating for the name, waiting and checking on Escrow, the fees, you get $400 some bucks. It's not worth the time and effort to go through all of that.

There was a time a few years back where a guy had a name I wanted, and it was literally $100, but he wanted Escrow. I was like, seriously? It took 3 weeks until I finally got the name from the moment we agreed on the price. After all was said and done, i never even used the name because the site that came with it was all nulled scripts loaded with viruses that I had to delete and wipe. lol.

Don't overthink things. If you did your research, you feel like all the dots connect, then do it. If something is giving you weird feelings, push for escrow, otherwise, if you feel comfortable with the person, bank wire should be fine.

 

[alcy]

once u have buyer email there is zero reason to use escrow or any other market at 10 or 15 or 30 percent .. all u need is a 5sexond buynow setup direct on your registrar. it is the safest fastest cheapest way to finalize. it involves no middle man. and no transfers or brokers. since dan addlead died its what I use all time. on dyna and sav. but I'm sure other registrars have it too. it may not be 5percent like dyna sav... so u can always transfer before sale. I recommend sav. 5p and 2 click buy now setup. payout is another 2 clicks.

dyna also 5p fee but maybe PayPal payout fee .. sav u cannot use balance for onsite buys.. and dyna u can.

if I thought of this way before I would not have even used dan before.

this is the best cheapest safest fastest way.

hell u don't need even buyer email and lead.. just point your lander to dyna bin or sav.

sav has no makeoffer yet.. dyna does.

forget sedo afternic escrow
... unless offers come thru rheir markets.... for landers use always only registrars landers. just be sure to use cheapest.

your welcome

 

[anunt]

Tell him to list the domain for sale at GoDaddy with buy it now for $1000.
You will lose $300 but it’s better than losing the whole $700.
If he doesn’t want extra $300 for listing a domain, it’s a scam.

 

[Wesley S]

Tell him to list the domain for sale at GoDaddy with buy it now for $1000.
You will lose $300 but it’s better than losing the whole $700.
If he doesn’t want extra $300 for listing a domain, it’s a scam.

yea, good idea, but it doesnt have to be $1000, maybe $850.

 

[doidomnola]

Add the domain to Atom.com as a standard domain and send him custom payment link and give up 4.5% to Atom

https://www.atom.com/connect/pay

 

[likemike]

OK so I've been reading this thread remembering a site I developed years ago that had a very catchy name I developed and later sold. It was the same sort of thing. The name was $1,500 and the owner didn't want to go through an escrow service. He was as it turned out just stubborn. After a few weeks I finally agreed, and he transferred the name. At the time it was a significant amount of money. I was afraid I would be ripped off. Most of us have been over the years. Whatever the case you will be taking a risk... to buy or not to buy. Mine was also a niche name.

 

[qwidjib0]

The Durfer gave me an idea - maybe paying via paypal (goods&services) will give me some protection... any experiences with buying a domain this way?

This was going to be my suggestion, though I haven't used PayPal much in the current decade. In the 2000s/2010s they virtually always sided with the buyer in a dispute, to a fault, and made it very easy to mark non-receipt as an issue.

 

[Paperhand]

So… I emailed him on Monday that I agree to his terms, and asked him to consider using paypal instead, with the same structure (money transfer first, fees on me)

He wrote me yesterday that he will read it later as he is very busy. Then, today he sent me back the contract with his signature and just the bank account number again.

My playground, my rules I guess, and maybe a very dry sense of humor. Bank transfer should take 1d - the countdown is on, I guess I will get to know his true colors soon.

And just as a sidenote - I have sold a couple domains in my brief carreer in this area, and have dealt with buyers and clients for years in other matters. I find this way to communicate - very brief and erratic - quite dismissive, even if he will go through correctly. Maybe a dislike for the domin business, or whatever, but I‘m done guessing and this has been way more empathic guesswork than I signed up for.

Thanks again for the action here, you guys are really helpful. You see that I chose to err on the side of reciprocity and correctness. And the funny thing is that when selling a domain a year ago at a very similar price point, I was very close to suggest the buyer just using bank transfer, after long email conversation about possible use cases for the domain, and thereby establishing some kind of faceless relationship and even trust. I chose escrow then, as I could not imagine the buyer accepting the other way and also just to have the escrow.com experience- and I do have empathy for disliking it however, in the current situation I suggested a buy now link of his choice as well, again with all fees on me. Also, I did not stalk him with calls and just sent a couple of friendly and brief mails, so his style was unprovoked.

And thanks for bringing up the buy now link from sav or dynadot and co, I really liked dan but never got warm with afternic, so will consider switching landers as well. Also, I don’t know about such a feature at namecheap. But this domain now is registered with some previously unknown German service that might not provide it and most of all - he wouldn’t even have ignored such a request, as an Austrian saying goes…

I’ll let you know! I might be naive bit I’m positive that it will end well.

 

[900Worldwide]

Bro, if you did your due diligence your all good, but why would you need to do escrow for $700.. If the name is great go for it....

 

[Wesley S]

updates?

 

[Paperhand]

Hi there…

As you know, last Wednesdey evening, I authorized the bank transfer and let the seller know. Then on Friday he wrote me that he has not received the payment yet, and we have to wait untill Monday (today). Given the bank transfer timelines, the transfer was suggested to arrive by Friday the latest, but I was willing to add another day before making any judgement. Also, it was good to see that he was communicating.

So, here we are now Just after 6pm local time and the end of business hours. About an hour ago I asked nicely for an update, and that there has to be some error in the transfer in case he hasn’t received it yet (not really likely as I shared the receipt of the accepted transfer earlier with him)

So the current status is, as Larry David would say: nada, zilch.

And yet again, I wait until tomorrow…

 

[forge]

So the current status is, as Larry David would say: nada, zilch.

I certainly hope the best for you, and that there is no "funny" business.

 

[Paperhand]

Aaand the transfer status is: awaiting release from previous registrar. I got it, alas!

The confirmation of the incoming funds came about an hour after my previous post here, together with the transfer code.

It is late already here, and I also have the feeling that I dragged this thread out quite a bit, but:

- I was new to this kind of not giving any fukks selling mindset, that seems in hindsight an intriguing scamming routine, in the way… let the fish bite first, and let them bite hard
- sometimes, what looks like an arrogant but legit business is just that, no need to make such a fuss or spend that much active memory going back and forth
- I cannot see into anyone’s circumstances: family stuff, drama, bad news, good news, whatever, there’s a ton of possibly way more important things than asap getting back to one enthusiastic (but chill and friendly) domain buyer
- I have to shut down my monkey mind and realise that‘s just as far as I can go with trying to figure it out. I think I learned a lot here. If this will provide easier and more positive results in the future or just make me prone to scamming… To be seen. But I cannot let the domain acquisition process take away my focus from the projects itself.

I say humbly thank you again! and find myself to be the perfect example of the midwit meme: on the left: just buy the f*ing domain, if it‘s worth the risk. In the middle, the overthinker: practically my way. And on the right, the genius: just buy the f*ing domain, if it’s worth the risk…

Ofc, you knew it from the start!

 

[WhySleepAlone]

Aaand the transfer status is: awaiting release from previous registrar. I got it, alas!

The confirmation of the incoming funds came about an hour after my previous post here, together with the transfer code.

It is late already here, and I also have the feeling that I dragged this thread out quite a bit, but:

- I was new to this kind of not giving any fukks selling mindset, that seems in hindsight an intriguing scamming routine, in the way… let the fish bite first, and let them bite hard
- sometimes, what looks like an arrogant but legit business is just that, no need to make such a fuss or spend that much active memory going back and forth
- I cannot see into anyone’s circumstances: family stuff, drama, bad news, good news, whatever, there’s a ton of possibly way more important things than asap getting back to one enthusiastic (but chill and friendly) domain buyer
- I have to shut down my monkey mind and realise that‘s just as far as I can go with trying to figure it out. I think I learned a lot here. If this will provide easier and more positive results in the future or just make me prone to scamming… To be seen. But I cannot let the domain acquisition process take away my focus from the projects itself.

I say humbly thank you again! and find myself to be the perfect example of the midwit meme: on the left: just buy the f*ing domain, if it‘s worth the risk. In the middle, the overthinker: practically my way. And on the right, the genius: just buy the f*ing domain, if it’s worth the risk…

Ofc, you knew it from the start!

Good to to hear you have secured the ideal domain for business

Congrats and hopefully you can share the joy with us the website after development

 

[Paperhand]

The status is still the same: awaiting release from previous registrar.

No change since Monday, how long can or should this stage last? Thanks again.

 

[bmugford]

The status is still the same: awaiting release from previous registrar.

No change since Monday, how long can or should this stage last? Thanks again.

For a legacy extension like .com, normally around 5 days after it enters pending transfer.

Brad

 

[Paperhand]

It's all good, the precious is all mine . It just took a bit longer than expected to get the transfer completed. Thanks again for all your kind answers, and it's a pity I can't share the domain, it would just draw too much attention to a small project in its beginnings.

But I can share another big W: I posted about two years ago some handregged gpt/ai domains to the forum to get an estimate or general feedback (I know naive..) but: I did a big cold outreach campaign and sold 3 of them - one for 9k, the other two way lower. Offers keep incoming, but usually around 1k max, and I am long especially on better kw+ai names. Also, I am much more focused on site-building, but I know the next cold outreach campaign is around the corner