A quick piece of advice needed

[Jilo]

I'm in the process of selling a very good name through Escrow for mid $x,xxx. Escrow have received the money, and advised me to transfer the name.

I've dealt with hundreds of escrow.com transactions, and normally I just ask for their email address, account number etc and transfer the name over no problem.

But the buyer keeps suggesting a different way:

Hi James,

Thanks for your email.

Even though you prefer the other process you suggested, I prefer to
stick to what I´m used to. Therefore I would be grateful if you could
follow the instructions here below;

The easiest way of transferring the domain name would be if you;
1. Contact the registrar through which you registered the domain
name and ask them to release the domain name from the registrar lock
2. Ask the registrar to send you the authorization code connected
to the domain name. As soon as you have received the code please
forward them to me and we will initiate the transfer.

Using this method, is there any chance that he can gain access to my other domains held in my account and transfer them along with the domain he's paid for?

As I've never used this method, I'm a bit weary of it. By the way, the registrar is Moniker.

 

[Johnn]

I have buyers who requested the same thing before and here is what I told them.
Create an account with Moniker - it's fast and free and you push the name to his account within moniker system.
Confirm the name is in his account and release the payment then he can transfer out to whenever he wants to.

Make it simple - there is no need to complicate the transaction. 10 out of 10 they agreed to do that.
Some end users just don't understand and they just want to stick with one registrar.

GL

 

[Melly]

I'm with John. Tell them you understand that they have been doing things a certain way but you want to give them control of the domain asap so tell them it will be a 10 minute process for them to create a free account and push it to them. This protects you and him. He has the domain in possession and can transfer it out as he wishes too. Also you are able to access your money sooner versus having to wait until its transferred to a new registrar.

 

[A D]

Either way is fine through escrow, the only drawback is the epp way will take longer to complete.

Your money is safe both ways.

-=DCG=-

 

[vikrantjain22]

In the past you have been using the PUSH method to transfer the name to the Buyer
A domainer or a regular buyer understands this method but a end user will always try to get things the traditional way i.e. to get the name transferred to his own registrar.
It would be very tough for him to understand the much easier and faster PUSH method because he is simply not aware of its existence.
All he is asking you is for the Authorization code for that name and Unlocking the name making it ready for transfer out to another registrar.
There is no way he can access your account or any of your other names in the account since you are providing him the Access Code for that particular name only.

If you try to push him too hard to accept the PUSH to Account method, you might just miss the sale, just a thought.

The only negative thing out of this is that it takes 5 days for the transfer to happen and then you get the money. Would it not be nice to wait 5 days and get paid 100% assured rather than pressurize him and have the fear of losing the sale.

 

[Theo]

Exactly what Adam said.

On the subject of doing things slower vs. faster read this

 

[katherine]

The buyer wants to transfer the name to his/her usual registrar, what's the problem with that ?

 

[Gerry]

1. Contact the registrar through which you registered the domain
name and ask them to release the domain name from the registrar lock
2. Ask the registrar to send you the authorization code connected
to the domain name. As soon as you have received the code please
forward them to me and we will initiate the transfer.

Either way or no matter what method you use, this is something that is going to have to be done...

Sure, you can insist that the customer create an account at Moniker.

But the hassle is not worth all the effort.

Even if you go through Escrow, you are going to have to supply the needed information no matter what.

Escrow does not release funds until the other party confirms ownership.

 

[Jilo]

Thanks for all advice, I was just slightly unsure of my next move because I have only ever used the push method. I was also unsure of his level of access to my account, but thanks for all your advise. However, after talking to the buyer, he came round to my way of doing things, and the deal is now almost done.

If there had been any risk of losing the deal, I would have used the other method. Apologies for a newbie question but thanks for all responses.

Theo, that's a great post, I am completely with you, and I'm sure most others on DNF are.

 

[Raider]

Escrow does not release funds until the other party confirms ownership.

WRONG, Like always.

The other party does NOT always follow up with a confirmation, Once escrow confirms the transfer on their end, funds are usually released within 7 calender days.... If confirmation does occur, funds are immediately disbursed.

In the 7 years I've been using Escrow, I've had this happen at least two dozen times now.