What's the best domain Escrow service for a seller?

[BeautifulDomainNames]

I have used Escrow.com on more than one occasion, however, they do little to protect the sellers interest. So my question is, what is the best escrow service for domain names from a sellers point of view.


- Darlene

 

[Name Trader]

Moniker

 

[alien51]

however, they do little to protect the sellers interest.

Can you elaborate on how you get little protection as a seller with Escrow.com? I haven't used them before.

The only escrow service i have used is sedo. So i have no comparison to make to know whether sedo is much better.

 

[BeautifulDomainNames]

After receiving payment from the buyer the seller is required to manually transfer the domain, at which point the buyer has a 3 day inspection period and must agree to accept the domain name in order for the funds to be disbursed. However, sometimes the buyer loses interest after obtaining the domain and may not finalize with Escrow.com for many days even weeks.

It also strikes me as possible that the buyer could change the whois back to the previous owner and claim they never received it in the first place, thus taking the name and getting the funds returned to them.

That's the problem with Escrow.com's domain escrow, since they never actually take control of the domain, they have no idea if it changed hands or not.


- Darlene

Can you elaborate on how you get little protection as a seller with Escrow.com? I haven't used them before.

The only escrow service i have used is sedo. So i have no comparison to make to know whether sedo is much better.

 

[steitieh]

After receiving payment from the buyer the seller is required to manually transfer the domain, at which point the buyer has a 3 day inspection period and must agree to accept the domain name in order for the funds to be disbursed. However, sometimes the buyer loses interest after obtaining the domain and may not finalize with Escrow.com for many days even weeks.

It also strikes me as possible that the buyer could change the whois back to the previous owner and claim they never received it in the first place, thus taking the name and getting the funds returned to them.

That's the problem with Escrow.com's domain escrow, since they never actually take control of the domain, they have no idea if it changed hands or not.


- Darlene

It's not as simple as that... I had this happen to me before and all it took is a couple of phone calls to the registrar which in return talked to Escrow.com and I got my funds (as a seller) instantly and the buyer got banned from using escrow services.

The 3 days (1 or eve day(s)) inspection is the time period given to the buyers to confirm it themselves. when the time's up escrow and you play the role! but the whois info is NOT all that it takes for the decision to be made.

In fact, most of my domains transfered through escrow.com still have my whois info and the buyers never claimed receiving them.


Yet, I Prefer Moniker's escrow since I try to keep my domains there.


my 2c

~Rami

 

[BeautifulDomainNames]

Don't you think this is a good deal more hassle than one should have to endure?


- Darlene

It's not as simple as that... I had this happen to me before and all it took is a couple of phone calls to the registrar which in return talked to Escrow.com and I got my funds (as a seller) instantly and the buyer got banned from using escrow services.

The 3 days (1 or eve day(s)) inspection is the time period given to the buyers to confirm it themselves. when the time's up escrow and you play the role! but the whois info is NOT all that it takes for the decision to be made.

In fact, most of my domains transfered through escrow.com still have my whois info and the buyers never claimed receiving them.


Yet, I Prefer Moniker's escrow since I try to keep my domains there.


my 2c

~Rami

 

[Name Trader]

That's why you should use Moniker.

 

[carob]

That's why you should use Moniker.

Hi haven't used it, sounds quick and secure.

Question: is this just for names listed/sold at Moniker/Snapname, or any domain? Presumably for other names you have to transfer to Moniker and the buyer receives a push there?



http://www.moniker.com/domainappraisalbrokerage/domainescrow.jsp

Step 7: Moniker simultaneously transfers all assets to complete transaction - funds are released to seller's Moniker account, seller selects payment method and Domain ownership is transferred to buyer's Moniker account.

 

[PutuHamsa]

Yes Moniker, more secure. I finished 2 transaction here, one transaction is bulk domain.

 

[CannyInvestor]

Moniker.com is good, as it is purpose built for domains.

The other good alternative for advanced sellers is Transpact.com, which allows you on a case-by-case basis to specify the conditions to be fulfilled for each individual domain sale/transfer. Unlike the other escrow sites, you are then able to hand-craft the specifications for when payment should be made specific to your individual sale, to fully protect yourself above and beyond any other site.

If you are up to creating the sale conditions for your individual case, then Transpact.com is best (and also least expensive). Otherwise, use Moniker.com.

 

[BeautifulDomainNames]

I had never heard of Transpact prior to this. I'm checking the site out now.

I find myself quite intrigued. Are you a representative of theirs?


BTW, Welcome the the forums!

- Darlene

Moniker.com is good, as it is purpose built for domains.

The other good alternative for advanced sellers is Transpact.com, which allows you on a case-by-case basis to specify the conditions to be fulfilled for each individual domain sale/transfer. Unlike the other escrow sites, you are then able to hand-craft the specifications for when payment should be made specific to your individual sale, to fully protect yourself above and beyond any other site.

If you are up to creating the sale conditions for your individual case, then Transpact.com is best (and also least expensive). Otherwise, use Moniker.com.

 

[alien51]

Question: is this just for names listed/sold at Moniker/Snapname, or any domain? Presumably for other names you have to transfer to Moniker and the buyer receives a push there?

From the way i read it from the moniker escrow website, yes you will transfer your domain to Moniker. So basically, Moniker now owns your domain during the entire duration of the escrow process. So since Moniker (as the escrow agent) is now in control of your domain, the buyer cannot make an alibi that you (the seller) did not transfer the domain to him. Because it is now between the Buyer and Moniker to finalize his ownership of the domain. If buyer loses interest in the domain, Moniker will transfer the domain back to you after the mandatory 60 days holding period imposed by ICANN. (Since Moniker will claim fees even for cancelled transactions, it probably makes sense that you charge all escrow fees to the buyer).

So i think that's the advantage of Moniker over Escrow.Com, since Escrow.Com doesn't setup its own registrar account to hold the domain to prove to the buyer that you transferred the domain already.

Anyway, that's how i understood it. Have only used sedo in the past.

 

[steitieh]

Don't you think this is a good deal more hassle than one should have to endure?


- Darlene

My point is: Escrow.com is secure. changing the whois is not all it takes to get scammed.

I do prefer Moniker, but not all buyers would want to wait to have the domain transferred to moniker.com (in-case its not there in the first place) to proceed.

Due to the point that moniker requires that you have the domain in Moniker.com, sometimes you'll need to use Escrow.com and it is secure as well.


~Rami

P.S. The higher the selling price, the less the chance you'll get into any kind of a hassle..

 

[BeautifulDomainNames]

I understand what you're saying. Perhaps it's just a slight bit of paranoia on my part due to prior dealings with Godaddy involving fraudulent buyers.


- Darlene

My point is: Escrow.com is secure. changing the whois is not all it takes to get scammed.

I do prefer Moniker, but not all buyers would want to wait to have the domain transferred to moniker.com (in-case its not there in the first place) to proceed.

Due to the point that moniker requires that you have the domain in Moniker.com, sometimes you'll need to use Escrow.com and it is secure as well.


~Rami

P.S. The higher the selling price, the less the chance you'll get into any kind of a hassle..

 

[Domagon]

I prefer escrow.com as both a buyer and seller.

With that said, for those seeking escrow that holds both domain and funds, Sedo is ideal.

As for fees, Sedo charges 3% (fee likely negotiable for large sales) for domains not listed on their service. So it costs somewhat more than escrow.com, but they're also doing more.

Moniker seemingly doesn't understand the concept of escrow - google and search forums for more info - I'm not going to rehash the reasons here, but bottom line is, in my view, Moniker escrow comes with various potential risks for both buyers and sellers.

Afternic is another one to consider - not sure how reliable they are these days, but in the past, their escrow service has been fine.

Ron

 

[alien51]

With that said, for those seeking escrow that holds both domain and funds, Sedo is ideal.

Yes. If sedo can broker the sale of sex.com, then perhaps they understand fully well how to protect the interests of the domainer.

Moniker seemingly doesn't understand the concept of escrow - google and search forums for more info - I'm not going to rehash the reasons here, but bottom line is, in my view, Moniker escrow comes with various potential risks for both buyers and sellers.

A few posts ago, everyone is recommending moniker. Now comes a post saying stay away from moniker. I did search google, and it returned mostly positive reviews for moniker though.

 

[Name Trader]

Hi Ron,

I did a google search for "Moniker Escrow" and found 1 unsubstantiated complaint three years old on the first two pages. So I'm really wondering what you are alluding to when you say "Moniker escrow comes with various potential risks for both buyers and sellers". So could you please "rehash the reasons" or provide some links as to why you say "Moniker seemingly doesn't understand the concept of escrow". I think they understand it better than Escrow.com, which isn't really an escrow service, imho.

 

[alien51]

From this URL link below, the posters say it is Escrow.com who doesn't know what escrow means:

http://www.DNF/f557/escrow-com-useless-thread-328387.html

btw, my google search term is "moniker escrow complaint". As it turned out, escrow.com is getting the mud.