Sales question -- Problem/scam?

[PMDN]

I received an email from an individual regarding a domain purchase. We agreed upon a price. I set up transaction in escrow.com with 2 day review period. Buyer changed it to ten days, said he needs more days so he can transfer the domain to another registrar
I sent an email telling him the registrar, that he can open a free account, I can transfer, he can then transfer at his leisure.
Buyer insists on a ten day review period.

Is this normal?


Another question.
When a buyer has little (recent) feedback, or is an unknown, wants to use paypal, I ask for approx. 3 days after payment before I transfer ( to be sure the payment is legitimate, so I don't get scammed again). Any problems in doing this?

Chuck

I just received an email from him saying he will pay by wire transfer and asks for seven days.

 

[HuntingMoon]

an inspection period is only needed to verify the whois has changed. 24 - 48 hrs should be sufficient.

allowing time for paypal to clear is wise.

at the end of the day, if you can satisfy all parties and get biz done, then it is worth it to give buyers extra time or whatever is needed so as not to lose a sale.

 

[Traveler]

Something is smelling a little fishy here. Don't transfer the name until you have money in hand and the bank says it is ok. Be sure that your bank has the money and there is no chance the money will leave your account.

The part where the buyer needs a ten day review period sends bells and whistles.

 

[DomainNameWire]

Two things:

1. It's normal for someone to want to transfer their domain to another registrar right away. But this shouldn't affect the "review" period. The review period doesn't start until the domain is transferred and in their name.

2. Never accept PayPal for a domain unless you're willing to lose the money. Even if it "clears", the money can be pulled back. Also, never pay for a domain with PayPal unless you're willing to lose all the money. If you're talking about $15 or $100, fine, but nothing big.