Seller won't agree to Escrow dot com

[offthehandle]

What is the reason why a seller won't use escrow dot com, even though buyer will pay for it?

A. Seller does not want to declare taxes in his home country on the transaction
B. Seller does not have a bank account for whatever reason
C. Seller is a scammer
D. None of the above
E. A and B but not C.
F: ??????

If I could get some logical input about this, I certainly would appreciate it.

This is an open question to any of you helpful guys that trade here all the time routinely. I have read enough on this forum about issues about those who don't deliver domains, sell them twice, etc. like the recent example where this Arunas Zygis. Most of you I guess here have their trading rating, you have your trusted contacts and past history- fair enough- and also some of you exclude "unknown" people like me from bidding since I have no track record here. Unless 15 points I think some post said today or yesterday. I understand, but if you want fresh blood, you have to start somewhere. I own 300+ domains from other venues, btw.

So I am new bidding here, and buy a domain. So seller accepts offer, I say put it at escrow dot com and I pay, seller refuses and says cash only- like the advertisement stated. Ok, so can I trust this guy? Sorry. I don't. We both are in the same boat- no trader rating here. It also appears that his multiple listings of the domain here were ignored and nobody bid but me.

I have a had an 820 fico score, I am not bragging just point out my credit is gold. I know bfd, nobody cares. I have not bought anything here on this open bidding forum before on Namepro's until now. So the seller's terms were clear (that I read AFTER the sale- my mistake) I was the only one bidding on the domain (coincidence?, I never should have bid either?) that he wanted to be paid with some system I had never heard of "PayTm". I have no clue about this company at all. Does anybody have experience dealing with them or know if they have the integrity of Paypal? I simply assumed (yes, my fault) that my offer for could be paid for via escrow dot com.

I contacted the admin, and he states I need to work it out with the seller or risk having problems with namepros. I don't need problems with anybody. What are my options? Are there alternatives to securing this domain other than escrow dot com? How would you handle it?
Thanks in advance for your input.

 

[Jman92]

Wow so many questions but for starters, how much was the transaction? don't need the specific amount but ball park. I dont want to jump the gun here but it seems like you didn't read the terms of the auction before you started bidding which is unfortunate and can only be solved by the seller and you.

Ps: NPers are super sensitive these days about new members bidding on their auctions for fear of scams. So if you want to pass that barrier, stick around, participate in discussions and be a good sport.

 

[johname]

The seller said very clearly "Payment - Paytm Cash only"

You have to read the terms before bidding

 

[offthehandle]

Wow so many questions but for starters, how much was the transaction? don't need the specific amount but ball park. I dont want to jump the gun here but it seems like you didn't read the terms of the auction before you started bidding which is unfortunate and can only be solved by the seller and you.

Ps: NPers are super sensitive these days about new members bidding on their auctions for fear of scams. So if you want to pass that barrier, stick around, participate in discussions and be a good sport.

I just assumed using escrow wasn't an issue, I guess not. I am not interested in getting scammed either! Escrow is simple and easy if you are legit I just did a 5 figure sale btw with them. I pay as the buyer to the seller for escrow. No big deal I thought. Transaction was $300.

 

[offthehandle]

The seller said very clearly "Payment - Paytm Cash only"

You have to read the terms before bidding

I stated that above- my fault and I realize that, I have no problem sending the money to someone legit, any suggestions how to resolve it though?

 

[johname]

Looks like your seller only been a member for about a month and has a zero trader rating.

 

[offthehandle]

exactly. The guy could be great, but I don't want to have the same thing happen that it seems others here also fear is getting scammed. Thanks.

 

[ultradog]

Getting paid faster is one big reason someone may not want to use Escrow.com. The seller won't get paid for awhile.

You might ask the seller if there's another service you can use to pay him online that you're familiar with.

 

[campout]

How does the seller want you to get the cash to him? He literally wants cash?

 

[campout]

Ok I read some more. It sounds like he actually is asking you not to pay by cash, but to use this system PayTM. That is not cash, is it? No more than Paypal or any other payment mover is cash.

 

[wwwweb]

0 feeeback people problems, well nothing anyone can do here, you are best to discuss with the seller, or call Paytm and talk to them.

You two should be able to work this out, otherwise just buy the guy a gift card as a token terminate the deal or something, as you wouldn't want him to report it to the credit agency and ruin your 820 credit score as we are all aware of now

Also PayPal does not work for some countries.

 

[Constantin S]

You can use other escrow like payment methods, like epik.com, dn.com, payoneer.com etc.
If he/she won't agree it's probably a scam attempt, BTW: paytm.com is a top 500 websites worldwide, however I don't know how they work but as I can see they don't offer escrow transactions.

 

[SlimPickins]

as said, always read the OP's terms and post or PM a question for clarification rather than assume what you consider normal/acceptable to be the case for them too, especially when it comes to payment or transfer/push terms.

In regards to your question about why a seller (or buyer) would not want to use escrow.com, I think a primary reason (Aside from people having a preference to use paypal or something else so they can pool their sales money in one spot, or perhaps just not being familiar with it and wanting to stick with what they know, or maybe due to restrictions based on their location etc) is the recent change in policy at escrow.com and elsewhere to REQUIRE that users upload a form of their IDENTIFICATION like a drivers license or passport. There was a thread discussing it and was pretty clear that, even for many people that were already using escrow before, they were not willing to share that info (at least online) and would no longer use escrow.com or other services that require a copy of ID.

 

[Messiah]

Paytm is the payment wallet company used by over 150+ million users in India... Although the buyer has accepted his mistake for not seeing the payment mode, there is also a mistake on seller side because he didn't mention the terms that the payment method and the transaction is only available for Indians because as per the RBI rules, Paytm doesn't accept international transaction...Hence this listing become limited to only Indians... This might be newbie mistake.

I believe the transaction should be void in such cases... You both need to work it out with moderator though...

 

[hamiltondomain]

Regardless of the "agreement" or "implied agreement", if you are not comfortable, DO NOT send money / give information online. Any seller that doesn't understand a buyers concerns re security online, and work towards easing those concerns is either a scammer, a bad businessman or an idiot (or a combination of them!)

 

[platey]

So it would seem that unless buyer is Indian the transaction cannot go through

Which as mentioned should void the transaction which would terminate the sale

And upon the sale being cancelled due to buyers specific request by a particular payment method you cannot use etc

Then just contact seller being no longer bound by sellers restrictions and say I am happy to still buy the name but on a escrow dot com basis that buyer pays escrow - take it or leave it

No escrow no deal

 

[JoeE]

Solved...
You the buyer, neglected to pay attention to his payment method requirement (Your fault).
He the seller, neglected to mention that PayTM only accepts Indian users (his fault).
As others mentioned, keep your offer to pay through Escrow.com and he can take it or leave it.
Mods should consider this transaction nullified without any penalty if you can not come to an agreement.

 

[Kuffy]

Escrow.com has had a fair bit of bad press recently. I wouldn't agree to use them for a sale until they have cleaned up their act.

 

[MapleDots]

I refuse escrow every time. I use my own credit card merchant account (under 5k) to process the payment. I am an established business, I charge sales tax and provide a proper bill of sale. The client gets my full end user information and nothing is hidden.

Why on earth would I give escrow all my personal information or a transaction fee?

There is my answer, if you want one of my domains you buy it my way or the highway... period. No different from what payments I accept at my brick and mortar store.

So no shenanigans and just because I refuse escrow it does not make the transaction suspicious. I have never lost a sale because of it. If you provide proper details to clients then the transaction usually goes through. I also allow for direct deposits and have sold a 75k domain that way.

So if you asked me the same question as your seller then you would get the same answer.

 

[hamiltondomain]

In any negotiation / sale process, no sale is an option. If you don't come to an agreement, all parties just move on.

 

[platey]

If seller wants sales $ chances are they'll agree

Because when sale is made void so is sellers bargaining power

All restrictions lifted

Escrow sale happy buyer happy seller move on

 

[frank-germany]

I may be reluctant to use escrow.com
if the amount is above $3k USD
and I don't feel comfortable
uploading a full copy of my ID card to them

( which I am [not comfortable with] )

 

[MapleDots]

If escrow ever gets hacked (and please don't say it is not possible) then the hackers have all the information necessary to duplicate your identity. Other than the government nobody gets all my information. Especially my birth certificate, social insurance or passport.

There will always be people that will resist escrow, as a domainer, or an end user, you have to plan for that situation and consider an alternate way to do business when that situation presents itself.

I like that OP is asking a lot of questions and gathering the information needed to come to an educated decision

 

[wwwweb]

If escrow ever gets hacked (and please don't say it is not possible) then the hackers have all the information necessary to duplicate your identity. Other than the government nobody gets all my information. Especially my birth certificate, social insurance or passport.

There will always be people that will resist escrow, as a domainer, or an end user, you have to plan for that situation and consider an alternate way to do business when that situation presents itself.

I like that OP is asking a lot of questions and gathering the information needed to come to an educated decision

Say I want to buy a $50K domain from you, I wire you the money direct, next day you claim bankruptcy? Just a scenario, a would be buyer might have.

 

[MapleDots]

I sold one at 75k, the money was wired to my account. I gave him a bill of sale prior to receiving the money in my account. After I received the funds I released the domain.

Your question is very good and the buyer asked similar questions. I provided him with references to previous sales and reviews from satisfied clients. I showed him an actual business master licence which showed my business was established in 2005. I gave him a written guarantee that if the name did not transfer he would receive his money back.

I have all my forms on file and he had all the information necessary to appeal if I did not deliver the goods.

The sale proceeded as planned and we were both happy.