Epik Escrow

[Resolved] Domainer Loses $26k On A Stolen Domain!

Labeled as discuss in General Domain Discussion started by Silentptnr, Mar 5, 2018.

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  1. MarketingStrategies.com

    MarketingStrategies.com Upgraded Member Gold Account VIP

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    Like poking fun at people when they are down do we?
     
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  2. Silentptnr

    Silentptnr Hey From L.A. VIP

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    It seems these scammers are working overtime to perfect their scam. I think we tend to get relaxed a bit because the vast majority of transactions go smoothly.

    Guess you just can't let your guard down for a moment. Particularly when companies like netsol do so little other than spam you daily.

    I happen to have one name left there and it's a 3L. I better move that sucker!
     
  3. alwaysforGod

    alwaysforGod Peace and Love for All - Professor Domain

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    My opinion?
    Legally speaking, I do believe that if he has proof of his correspondence with what is supposed to be the owner's correct contact information, especially considering it most likely has been the same information for a long time (many years) and he has proof of his payment + where it went then he should have a strong leg to stand on.
    It may or may not have been the owner he was speaking with, however it (at that point) was beyond reasonable for him to operate as though the person was in fact capable of selling and in proper ownership of the domain; especially when you consider that he did a few other things, such an initializing with escrow to test the seller's legitimacy, communicating via multiple methods and on well-established platforms for the seller, etc. And with that in mind, who does the blame (who owes them dollahs) come down to?
    Of course it would have to be the actual and responsible middle-ground here, the registrar who both registered and also transferred that domain. Because let me put it to you like this, if they are satisfied that the request to transfer out and to request be transferred back in are from the owner, and they do not return it to booth after he proves he bought it, then they are at fault. And if EITHER the transfer out or back in are NOT satisfactorily recognized as the name owner, that ALSO is the registrar's responsibility and means they need to recompense either the seller, buyer or both. And if they just think that he has no legal right to it even when presented with proof of purchase, then i genuinely just lol at the court they try to take that stance in.
    Take what I said to heart, booth, you are fine. Gather the proof of corresponce, all of it, the proof of escrow initialization as well as the seller's purported account and related info, gather the times and dates of contact, and also the proofs of it coming in and out of your account. Then call networksolutions, explain to them what happened, and let them know you would like it solved pretty fast :]

    -John Y.
     
  4. Furquah

    Furquah Skipper VIP

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    How fool he was?

    First he tried to bought a 3L.com at 26K, another thing is why he don't used escrow service? I have seen people using escrow for $500 domain transfer. So no one should be blamed but only the buyer!
     
  5. Makpro

    Makpro Established Member

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    After reading so many complains about netsol
    I choose only godaddy ..
    I recently bought a 4 letter domain that was registered with netsol but I requested authorization code from seller ,it took 8 days to get me name in godaddy account..

    Always request authorization code not pustj specially for netsol deals
     
  6. jideofor

    jideofor Top Member VIP

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    Another greed story. You see how greed destroy people? This why I rarely feel pity for victims because you being greedy says a lot about you! It means you wanted to cheat by getting things cheaper without minding if the other man makes profit (of course you don't care if he makes profit or not) but all you care about is your own profit/gain and in the process, you get burned... and then try to play the victim card.

    In some cases, if these men had gotten away with their plans such as getting the domain names cheaper than REAL price and value, they will brag to the world how they bought a 3Letter domain for cheap... I mean, shouldn't the mere fact that something is selling below market value raise red flag?

    You clearly wanted to cheat the other person by underpaying them... It was this same reason I kicked a tenant out of our family property because he wanted to take advantage of us considering things were not being handled properly before my arrival... I kicked the idiot out to teach him a lesson.

    Do away with greed and you will be safe and he didn't use escrow! oh lawd!
     
    Last edited: Mar 6, 2018
  7. xynames

    xynames XYNames.com PRO VIP

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    In banking I’ve seen situations where a check is deposited into the wrong account and then even after funds being transferred out and away across two different bank accounts within the same bank - two accounts in the names of two different corporations - and then from there out to an individual’s credit union account still our bank was able to snag the funds three movements away and back to us the rightful recipient of the check. So in the banking system there is cooperation even between an FDIC bank and a credit union.

    Point being that moving the domain around to a different registrar or registrar(s) - does this definitely mean that it may not be moved back involuntarily to its rightful owner?
     
  8. BoothDomains

    BoothDomains Contact us if you are looking for a premium domain VIP

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    Brokerage wise it has been my best year yet. Already sold over $2.5M in domains in 2018.
     
  9. BoothDomains

    BoothDomains Contact us if you are looking for a premium domain VIP

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    Did you read the comments? This has nothing to do with Greed.
     
  10. teper

    teper Established Member

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    I think the entire domaining community should boycott the use of NetSol.
    Every other day there is a scam happening there.
     
  11. D Haynes

    D Haynes Top Member VIP

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    Just people jumping to conclusions... You should know how this works by now lol.
     
  12. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    I had an escrow for $250 USD just now
    ( outbound sale )
     
  13. BoothDomains

    BoothDomains Contact us if you are looking for a premium domain VIP

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    PLEASE READ the posts. I did use Escrow.com.
     
  14. kamcreation

    kamcreation Upgraded Member Blue Account

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    Well some people cant even taking the trouble to read the thread from start before passing comments unfortunately, really sorry for your loss and hoping that you get your funds back @BoothDomains

    Just added this to my notes to self sheet

    Avoid buying any domain name while it is with NetworkSolutions
     
    Last edited: Mar 6, 2018
  15. kamcreation

    kamcreation Upgraded Member Blue Account

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    Absolutely majority of the scams seems to happen at NS recently so its seems just a matter of time before people stop using them.

    Anyone with even remotely valuable names should just move the names to a registrar that takes security of customer assets seriously.
     
  16. ntjedge

    ntjedge Established Member

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    Guys, let's backup a minute. He said he did use Escrow.
     
  17. Crysis

    Crysis Established Member

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    Please read the thread before throwing baseless accusations. He used Escrow.com. He received the domain in his NetSol account. After few days, when he tried to transfer the domain name to another registrar, he realized that the domain name was no longer there and that it was returned to the seller.

    Do you even know what are you talking about?
    Bjn dot com sold for $29K
    Knb dot com sold for $25.9K
    Rmh dot com sold for $29K
    Qrc dot com sold for $25.2K
    Rtk dot com sold for around $24K
    Qrf dot com sold for around $21K

    These are all 3L.com domains which we were sold recently (Oct 2017 onwards) for approx. the same price range at NameJet and other auction houses. Where is the question of underpaying?

    James purchased CQD dot com for $26K which IMO is a fair reseller price. Yes, if he had purchased the domain name for around $12-15K then we could have agreed he underpaid. But in this case, it was a competitive price.
     
    Last edited: Mar 6, 2018
  18. stewmath

    stewmath Top Member VIP ★★★★★★★★★★

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    James is fortunate that losing 26k won't break the bank, advantages of being a millionaire. However its still loss of money and i wish you all the luck in getting the money back through the legal action.
     
    Last edited: Mar 6, 2018
  19. BoothDomains

    BoothDomains Contact us if you are looking for a premium domain VIP

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    I wish I was a millionaire. I am nowhere close. Sometimes I will do a deal for $100k and make $1k because a deal is a deal and $1k is better than $0. :)
     
  20. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    si tacuisses

    ;)
     
  21. stewmath

    stewmath Top Member VIP ★★★★★★★★★★

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    My mistake, i honestly thought you were based on some of the success stories ive read etc. Well i was corrected on that one :)

    But anyway all the best with whatever legal proceedings you persue.
     
  22. Embrand

    Embrand Michael Bilde ICA Member Gold Account VIP ★★★★★★★★★★

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    What? Could you please elaborate? Don't you get a fixed percentage.

    Going off topic a bit, but this is interesting :)
     
  23. alcy

    alcy Top Member VIP

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    hmm i think he just said sometimes he sells domain he bought for 100k for 101k

    which is probably a bad business model.. cause normally to make 1k profit you do not even buy domains aftermarket but rather handreg them..

    but I know it can happen... sometimes we need money.. and breaking even or making min profit is the only option.. and even a wonderful option at such times!!
     
  24. BoothDomains

    BoothDomains Contact us if you are looking for a premium domain VIP

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    Just saying sometimes I make a small profit on my flips.
     
  25. Silentptnr

    Silentptnr Hey From L.A. VIP

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    I'm trying to imagine what my next move would be. I've realized that I have 26k floating somewhere out there, and the domain I bought has been taken by a registrar with a bad reputation.

    I've got a papertrail, but what to do now?

    Makes me ill just thinking of how you must feel James.
     

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