Domain Selling Transaction Methods

[d97]

Hey everyone,

I really need your help and expertise on this subject considering you guys buy and sell domains regularly.

I want to know how I can have 100% protection with a transaction I would like to do. I'm interested in selling a domain name and the buyers preferred payment method is wire transfer via escrow.

I've never used this service before. Is this safe? Do you guys prefer any alternatives? How can I be safe and protected? Should I wait for the payment to clear on my side before transferring the domain?

Any help would be appreciated.

Thanks

 

[mave1986]

Escrow.com is reputed and safe!

 

[Biggie]

Escrow.com is reputed and safe!

and yes, wait until you receive payment before transferring domain.

 

[vinsdomains.com]

Can't go wrong with Escrow. They hold the domain and they hold the money, making sure the parties on each side get the domain and cash.

 

[d97]

Thanks a lot guys. I had no idea escrow actually takes control of the domain and transfers upon the transfer of cash, that seems 100% safe. The only concern is that I must transfer the domain within my current registrar b/c it's in the 60 day lockdown period. Would I give escrow access to the account or do I have to wait and transfer it to escrow, how does that work?

edit - just read the process, seems safe

 

[d97]

Hey guys,

What 's the difference between domestic and international wire transfer? Does this depend on where the buyer is located?

Thanks

 

[DNB]

Hey guys,

What 's the difference between domestic and international wire transfer? Does this depend on where the buyer is located?

Thanks

This means that cash is transfered to the bank located in other country then your bank, also there are huge fees for international wire transfer.

 

[Biggie]

Can't go wrong with Escrow. They hold the domain and they hold the money, making sure the parties on each side get the domain and cash.

Escrow.com holds the cash, but they Do Not hold the domain. (unless they have included this service since last time i used it)


Sedo's escrow will hold the domain, when you "push" it to their account (within same registrar) and in turn after payment, they will "push" to buyer, who can get an account at the same registrar, if they don't already have one.

Thanks a lot guys. I had no idea escrow actually takes control of the domain and transfers upon the transfer of cash, that seems 100% safe. The only concern is that I must transfer the domain within my current registrar b/c it's in the 60 day lockdown period. Would I give escrow access to the account or do I have to wait and transfer it to escrow, how does that work?

edit - just read the process, seems safe

make sure you are clear on the process, before you try to translate to the buyer, if necessary

 

[Charles Sweeney]

For high value, Escrow, definitely. I sold a site last year for $66K through escrow.com, no problem at all. Didn't expect any problems. They have been around a long time now and are thoroughly reputable.

I sold my first name 12 years ago for £5,000. I took two post-dated cheques for it after getting a third deposit. I was perfectly happy with it as the deposit was already a very hefty profit on the reg fee! The subsequent cheques were good. The purchaser was an established business. I could feel it would be good and it was.

I have sold lower value domains and websites through PayPal. Basic due diligence on the buyer has always seen me ok.

Another sale I had, got the buyer to pay me the full amount by bank transfer before releasing the name.

 

[d97]

Hey guys,

So this is what happened. He opened an account at the same registrar as mine to do the push. He gave me the account details which differed from the email address registered and noted in escrow and communicated me with. This raised suspicion b/c he could have maybe said that he didn't receive the domain (even though he would have) and the money probably would have been refunded. I told escrow and they sent an email to the buyer while carbon copying me asking for the account information at the registrar to have it in writing to them. The buyer replied to all with "Here are the account details" and below that was blank white space in the email, so he didn't include anything. Now this ass has been emailing me daily asking what's going on, etc. Smells like scammer...what are your thoughts?

Dan

 

[Charles Sweeney]

Smells like scammer...what are your thoughts?

Doesn't sound good but if you are using escrow.com you won't have any problems. Remember, the buyer has to pay them first before anything can happen. Just follow the procedures on Escrow.

 

[Raider]

Hey guys,

So this is what happened. He opened an account at the same registrar as mine to do the push. He gave me the account details which differed from the email address registered and noted in escrow and communicated me with. This raised suspicion b/c he could have maybe said that he didn't receive the domain (even though he would have) and the money probably would have been refunded. I told escrow and they sent an email to the buyer while carbon copying me asking for the account information at the registrar to have it in writing to them. The buyer replied to all with "Here are the account details" and below that was blank white space in the email, so he didn't include anything. Now this ass has been emailing me daily asking what's going on, etc. Smells like scammer...what are your thoughts?

Who cares what account details he gave you? Escrow gave you the green light to transfer the domain and that's what your supposed to do, And you use the contact information provided by escrow, nothing different. The only information you need from the buyer is the push information, once pushed, you confirm the transfer/push with Escrow and theirs nothing more for you to do.

No need to play Sherlock Holmes here, the whole purpose of escrow is to insure the buyer receives the merchandise and seller receives the money, so in the event funds are reversed for some reason, it's Escrow's problem and not yours, so long as you complete all steps as instructed.

And I must say you have some nerve calling the buyer an "ass" and referring to him as a scammer, just because he sent you different contact info and a email was blank?, are you for real? When the buyer used wire transfer as opposed to a credit card, doesn't that suggest something to you?