Need advise on domain dispute

[aRxS]

Hi there.

This is regarding the issue of the buyer backs off to buy my website.

I've transferred the domain name to him, and now he do not want to buy the website. He insisted that I must cancel the escrow.com transaction (his money is in it) before he push the domain back to me.

So can I get your advice? Should I cancel the escrow first or I should get back my domain first. I'm afraid that if the escrow is canceled and he runs away with my domain.

And can godaddy reverse the transfer to me if the buyer runs away? I've heard that the domain name is not available for transfer for 60 days if just transferred.

I need you opinions while waiting for escrow.com and godaddy support.


Thanks.

 

[labrocca]

You have an agreement. He has paid. You transferred the domain. Seems like a done deal to me. Tell him you are willing to buy the domain back for 80%. I think that's a fair solution for him causing you trouble. If he agrees make sure to do escrow. You will need to do a seperate escrow transaction. The last thing you should do is cancel the current escrow.

 

[BinderGang]

Call Escrow. Let them know you sent the domain and now he wants to cancel. Tell them, you do not want to. He made a binding agreement. It's too late to back out.

 

[mwzd]

You probably will lose your domain, if he has the domain and you don't have the payment.

Tell him to process the cancellation via escrow, don't think it's possible.

Good Luck

edit - to answer your specific queries -

So can I get your advice?
Yes

Should I cancel the escrow first or I should get back my domain first.
Get your domain back first. Cancel escrow only when domain is in your account.

I'm afraid that if the escrow is canceled and he runs away with my domain.
For sure. Seems to be a con.

And can godaddy reverse the transfer to me if the buyer runs away?
NO.

I've heard that the domain name is not available for transfer for 60 days if just transferred.
It can still be pushed to another account, and another, and another, you will never get it back.

Always CYA, cover your a**.

 

[Ronald Regging]

Do not under any circumstances cancel the escrow until you have either the money or your domain back. I'd definitely contact the escrow company, tell them that the buyer is trying to back out and show them proof that the domain has already been transferred to the buyer. The buyer agreed to a legal contract and once he fulfilled his part (sending the money) and you fulfilled your part (sending him the domain) the deal has completed.

It's just a matter of working with the escrow company, showing them proof that the domain has been transfered and getting your money.

Again, do not under any circumstances cancel the escrow or you will lose everything.

 

[aRxS]

the buyer doesnt want to transfer back the domain to me first, insisting that he need to have his money back first before pushing it back to me, despite that I have already explained to him that I can't take away his money from the escrow.

What should I do? The worse part is the domain name is with godaddy, and their support is so slow.

 

[mwzd]

Prove to the Escrow company that you have transferred the domain.

Recover the payment.

Close the deal.

 

[jberryhill]

the buyer doesnt want to transfer back the domain to me first, insisting that he need to have his money back first before pushing it back to me, despite that I have already explained to him that I can't take away his money from the escrow.

You are being scammed.

He can get his money out of escrow if you have the domain name. That's one of the things escrow is for.

However, at this point, you should be leaning on escrow to get your payment.

 

[AdoptableDomains]

the buyer doesnt want to transfer back the domain to me first, insisting that he need to have his money back first before pushing it back to me, despite that I have already explained to him that I can't take away his money from the escrow.

The escrow agent keeps the money until both parties are satisfied. You don't have his money unless it's been disbursed. At that point, it's out of escrow and you would have to agree to buy it back IN ANOTHER escrow transaction. As suggested, if you do agree to take it back, I'd do it less a "restocking charge" of at least 25% of the price of the original sale for your trouble. The escrow company will still make their commission either way, as they did provide the service. I'd insist that fee also be added if you paid any of it.

DO NOT let him get a refund without first getting the domain in your possession.