Escrow.com missleading FAQ ?

[fischermx]

I saw this in the faq section, and found it very disturbing:

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Are there special escrow considerations when dealing with domain names?
Yes. Before releasing payment to the Seller, Escrow.com verifies that the domain registrant information reflects the Buyer. If the registrant information does not reflect the buyer, escrow.com will ask the buyer to confirm control of the domain.
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Everybody knows that the seller can easly change the domain registration to the buyers information, without really transfering the domain or giving registrar/account/password information and tell everything is ok and get the money released without having really transfered the domain !

I suppose this is not exactly how it works and it is just a messed up in the FAQ.
How does it really work ?

 

[interlution]

The buyer has to confirm that he or she received the domain name before payment is released by Escrow.com. The whole escrow process should mean that they hold the money "in escrow" until both parties are satisfied that the transaction is complete.

If the seller only changes the contact info and does not actually transfer the domain name, then the buyer should notify escrow.com that they have not received the domain name. Within the given time frames. Escrow.com should also verify this.

https://www.escrow.com/solutions/escrow/process.asp
https://www.escrow.com/solutions/domain_name/process.asp

 

[labrocca]

No what he is saying is that the buyer gets the domain in their registrar account....but then change whois information BACK into the sellers information and claims he never got domain. Then the buyer complains to Escrow.com asking for a refund. This has been done before...but I think escrow.com has wised up a bit and if the seller claims to have transferred to the seller they may have to contact the registrar to confirm a transfer.

This is why I like Sedo because you give them the domain...then when they have it they give you the money.

 

[dolansco]

true about sedo , it is safer ... if ye have 6 months to wait !

 

[Creature]

I understand from this forum that you can only avoid this type of fraud if you use Moniker.com.

Moniker take the time to collect signed agreements from both parties. Then they collect both the funds and the domain name and once everthing is in place, they make the exchange.

Sedo cut corners with cheaper names to avoid a long transfer and Escrow.com is a risk every time.

 

[interlution]

The buyer receiving the domain in their registrar account then changing the whois back to the original owner and claiming they didn't receive it is sneeky.

You've got to look out for yourself and contact escrow.com and remain in contact with them during the transaction.

I agree, Moniker holding the actual domain in escrow is definiately the best solution.

 

[SouthernTn]

Once I was instructed to send the domain, I did it, and immediately called Escrow on the phone... 2 mins later, everything was pushed forward.

 

[Theo]

true about sedo , it is safer ... if ye have 6 months to wait !

Or if you want to give them 10%