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.

 

[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.

 

[offthehandle]

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

Thats exactly what i did. Escrow or no deal. I pay for the escrow no problem. I would even pay amount extra more to resolve it.

 

[wwwweb]

Thats exactly what i did. Escrow or no deal. I pay for the escrow no problem. I would even pay amount extra more to resolve it.

The ad is quite simple, clearly says PAYTM, it is a 4L.com, a significant transaction for some people $3XX

Your only downside is you are at the mercy of receiving a negative feedback, for non payment according to auction terms.

 

[golan]

Well. I'd say, screw it, and get the first negative rating point as your lesson for not reading the seller terms. I would do this, I wouldn't pay that seller with this strange Indian payment system.

 

[offthehandle]

Thank you all for the input. I am happy that you have added this information for me.

I would like to resolve this fast and move on, get the seller paid and I am good for doing clean business with reasonable people. I am retired and doing this a hobby business since it is fun. In my real business days in the 90's I received wires around the world from all over, shipped goods and usually no problems, 1000's of transactions- I am not a newbie. As a seller normally with 5 figure average each sale, I did business with large established companies usually or smaller ones I sent goods on a credit card, COD basis or if credit got credit applications with 3 references of companies they did business with and called them for details all of that requires full disclosure, and in some cases a personal guarantee when credit was extended. With domains (non-physical goods) being sold half way across the world, there are too many "Gotchas" to not get what you paid for, and misrepresentations of ownership, etc. To prepay and hope to get what you paid for, just is not good business. If the transaction was in the US, I would have sent paypal already and not worried nor asked for escrow as there various means of recourse should something not be delivered. Internationally, unfortunately it is a mess.

If anybody is a serious business person and does not want to identify themselves with escrow because it takes a week, they shouldn't be in business. Sorry. And if not wanting to disclose your information and using full ID that can be a problem for tax authorities and anti money laundering compliance for international trade. Non-disclosure becomes the sellers problem too as you agree to do business and if the buyer does not use a venue to prove origin of funds, that is what a bank account does is prove you are legit.

Regarding hackers stealing data from escrow companies, yes that is a problem that you personally choose to either use or not use. Paypal can get hacked just like anybody else too right? Your personal bank account could also get hacked. If you are in the gov't you can get hacked.

Anybody interested that wants to do business with me here in the future, pm me and I will send you a customer list which includes Fortune 500 and Gov'ts. These were established companies like my own in those days. Same with my buying, I sent out checks all over within the US and Canada but most would give me various terms to receive goods, inspect and then pay- which I never was a late payer. It's a mixture of both honor and trust that gets built up. Like your point system you have here. I have years of experience with physical goods sales and only 2 collection situations needed to call a collection agency in 14 years of business, since I my due diligence up front before the sale.

I am willing to use another company other than escrow dot com and did not know the others offered it, so that is a solution. I didn't know that the sellers form of payment was only good in India though. The seller did not contact me today for some reason too, not sure why not.

Again, the input and alternative ideas of other escrow or companies might resolve this. Thank you.

 

[offthehandle]

I hate to get started here with a negative feedback situation, that is pathetic.

 

[wwwweb]

Maybe someone can make the payment on his behalf, and you can compensate that person via paypal or something.

I understand what you are saying about your business days, but this is just a domain forum, guys buy, and sell domains, for various reasons to buy more, to take a vacation, or for other things.

Most deals here are done informally based on trader rating. There have been many instances where people show up for a day, bid like the wind, and are gone leaving auctions ruined. I can clearly see that is not your intent. Personally I think you overpaid for the domain, but just buy the guy a $10 dollar egift card, and call it a truce. The seller didn't do anything wrong, and your only error is assuming you would have access to a reasonable method of payment.

If they wanted to be at escrow, they would already be signed up, so don't waste your time.

 

[platey]

Thats exactly what i did. Escrow or no deal. I pay for the escrow no problem. I would even pay amount extra more to resolve it.

Because yes it may be an inconvenience for the seller but by you offering to pay for escrow both the buyer and seller the seller will get $'s and you will have the confidence of knowing that the domain has been checked etc which will reassure your eventual buyer

 

[offthehandle]

Maybe someone can make the payment on his behalf, and you can compensate that person via paypal or something.

I understand what you are saying about your business days, but this is just a domain forum, guys buy, and sell domains, for various reasons to buy more, to take a vacation, or for other things.

Most deals here are done informally based on trader rating. There have been many instances where people show up for a day, bid like the wind, and are gone leaving auctions ruined. I can clearly see that is not your intent. Personally I think you overpaid for the domain, but just buy the guy a $10 dollar egift card, and call it a truce. The seller didn't do anything wrong, and your only error is assuming you would have access to a reasonable method of payment.

If they wanted to be at escrow, they would already be signed up, so don't waste your time.

Thanks for the additional comments. I know the escrow thing is a pain. I didn't realize this forum was THAT informal. No problem about buying the guy a gift certificate. None of you seasoned veteran guys bid on his domain, any input why not? Payment terms?, Never heard of PayTM or don't trust it? price too high like you said? I guess I was the only uninformed to bid, it had that alexa ranking and website included with tons of posts and had an idea for that.

 

[platey]

It's what a person is prepared to pay for it and as you said you had an idea for it which effectively means you know how you could add value to it which means you could return a profit on your investment which is the name of the game

Allegedly

 

[offthehandle]

Allegedly, you are funny. I like that. Actually I am looking in various venues other than here for sites that are populated and about that price range of $300-400, ranked non fake backlinks or not pumped up artificially, no ad income from site necessary.

 

[offthehandle]

1. 
   
2. Paytm Wallets are available only to resident Indians who have attained the age of 18 years and are competent to contract.

Thanks @Messiah. This clarifies it for me further, the PayTm isn't for international users, in good faith the seller should have stated that in the offer.

 

[MapleDots]

@offthehandle
Do you have the sellers email address? Just communicate with him and tell him you're more comfortable using escrow. Tell him you have real concerns dealing in a foreign country and if he is not willing to do that ask him to cancel the deal. Be upfront and tell him that ordinarily you would have no issues completing the sale. Then wait, if he gives you a bad rating contact him again and ask him politely if he would be so kind as to change it due to the extenuating circumstances.

Since I don't use escrow I would allow you to cancel the deal and move on. I would not give a poor rating because we were not able to come to payment terms.

In most cases being polite and explaining your concerns should suffice. (hopefully)

Good luck to you, please let us know how you made out.

 

[imc]

It's about time NP started an Escrow service for NP members.

 

[offthehandle]

I sent the seller a direct message/PM, I don't see where the email address is located though.

 

[Nerevar]

There are many valid reasons for a person not to want to be paid by Escrow. For some people, it is a matter of principle not to upload their ID copies to Internet, and their corporate policies may not even permit that.

Technically, the seller has the right to specify any payment venue and you really need to read the auction terms before bidding. Once you place a bid, it is binding. I assume the admin has told you that.

In domaining business, sometimes it occurs that you are locked into an unwanted deal because of technicalities like this one. This is a risk that we take and our reputation is based on how we deal with this. There are two good ways to resolve the situation: either find a way to pay as per contract (perhaps taking additional expenses by organizing a 3-way exchange of funds) or ask the seller for help and let him be the arbiter (maybe offer to compensate him somehow for the time lost). Asking for a moderator's advice was a reasonable course of action, and following that advice is a good idea. On the other hand, IMO asking the community to take a vote whether the seller is a fraud does not help the situation at all.