Who pays Escrow fee?

[copper]

Let's say I sold domain name.
I (Seller) initiate the escrow at escrow.com
It's set as Buyer pay all fee.
Buyer do not pay and/or do not complete the process.
escrow is terminated by escrow.com after ? days.
Who pays fee?

Thanks

 

[netzilla]

Could go either way but the odds are if the buyer did not pay or did not complete the process you are going to get stuck with the fees.

 

[copper]

Could go either way but the odds are if the buyer did not pay or did not complete the process you are going to get stuck with the fees.

Even when I marked it as "Buyer pay all fees"?
That doesn't seem right

 

[DotWeekly]

Escrow fee's should be decided as part of the sale. So a decision should be made Before starting escrow. It never hurts to split the fee's IMO, but if you can, always push them onto the other person.

 

[copper]

Escrow fee's should be decided as part of the sale. So a decision should be made Before starting escrow. It never hurts to split the fee's IMO, but if you can, always push them onto the other person.

Yes.
I know that.

I always write these at the bottom.
Payment: escrow.com
Buyer pay all fees.

I sell most domains to endusers and some of them
are really thick
I always send them step by step how to start escrow.
I let my girl start one to see if it is easy enough and
she had no problem doing it. And she's only 9 years old.

Still, some of them mess it up

That's why I am asking this question.
If I start the process, it would be much easy.

So, what happens when I start the process (buyer pay all fee) and...
1. Buyer don't even login to escrow.com (completely disappear).
2. Buyer login to escrow.com and click the bottom (agree to all terms), but, do not pay.

Who pays the fee for condition 1 and condition 2?

 

[NameCharger]

Let's say I sold domain name.
I (Seller) initiate the escrow at escrow.com
It's set as Buyer pay all fee.
Buyer do not pay and/or do not complete the process.
escrow is terminated by escrow.com after ? days.
Who pays fee?

Thanks

This has been from my experience and I put a disclaimer on it encouraging you to call Escrow.com to verify for your own financial purposes:

If the Seller initiates an escrow transaction with Buyer paying fees and the Buyer does agree to the escrow instructions within 7 days, the transaction expires and no fees are incurred.

I have been on the other end of this as well, as a Buyer I approached a Seller by starting Escrow with me paying fees, hoping it would get them motivated to sell (I would have gotten a steal!). Seller didn't respond within 7 days and transaction null and void and no fees incurred.

 

[DotWeekly]

If money is put into escrow and the buyer or seller back out, then the buyer pays the fees no matter if it was decided to split fees. Otherwise there would be no way for escrow to really get the other half of the fees. (That's what they say anyway)

 

[copper]

So, as seller (escrow started with buyer pay all fee)...
I wouldn't lose any fee no matter what happens
as long as I do my part, right?

 

[Earthian]

before the contract is accepted by both parties ... there is no fees to be paid to Escrow.com


after the contract is accepted by both parties ... the party that was to pay the fees is charged the fees (even if the transaction is not completed)

So, as seller (escrow started with buyer pay all fee)...
I wouldn't lose any fee no matter what happens
as long as I do my part, right?

correct

​

 

[copper]

before the contract is accepted by both parties ... there is no fees to be paid to Escrow.com

after the contract is accepted by both parties ... the party that was to pay the fees is charged the fees (even if the transaction is not completed)

correct

​

Thank you Earthian for clear answer

How do you add Rep

 

[Ben42]

You should not have to pay anything. If the guy logged in and said he would pay then it's up to him to take care of escrow.com.

In the event of a rejection of the merchandise or cancellation of the transaction, the Buyer is responsible for escrow fees, return shipping fees, and original shipping fee if the Buyer agreed to pay.

https://escrow.com/support/faq/index.asp?sid=2&qid=12

 

[Earthian]

glad it helped ...


for more info on Payment Methods you might want to check out this thread

How do you add Rep

click on the "little white scale" symbol at the bottom left of a post

​

 

[Name Trader]

Let's say I sold domain name.
I (Seller) initiate the escrow at escrow.com
It's set as Buyer pay all fee.
Buyer do not pay and/or do not complete the process.
escrow is terminated by escrow.com after ? days.
Who pays fee?

I just had a couple like this. Nobody pays fees. Escrow.com delete the transaction in 7 days if buyer doesn't login.