Escrow.com = useless

[domaingenius]

I have ,until today, used escrow.com consistently . Now they have lost a good
customer and so I hope they read this forum . Do they ?. Domain transferred
and money released ,then buyer uses escrow.com to pay a shortfall
amount that I waived from original transaction and clearly since domain has
already been transferred nothing to do except payment be made.
Escrow.com now want to keep the monies and not release them until whenever
the buyer happens to wake up, which I know wont be for few days.
What is point therefore of 1 day inspection period ,if as they seem to say now
it is "whenever we feel like it ??" . If the buyer does not abide by inspection
time WHY must I the seller wait for days on end ?

This is not about the amount it is the PRINCIPLE of the matter !!!. Inspection
period means 1 day, NOT when they like to. So escrow.com
I hope you are happy you have lost customer and now I will
use Moniker escrow instead.

DG

 

[Rockefeller]

Yea, escrow.com doesnt realize what escrow truly is...the domain name should go through them and then to the buyer...as it does with us.

 

[Deleted member 111831]

i don't understand your complaint

escrow is slow about releasing the money to be careful. i like this about their service.

i also suggest you register the name yourself and send them $2 for the effort

 

[acesfull]

I have ,until today, used escrow.com consistently . Now they have lost a good
customer and so I hope they read this forum . Do they ?. Domain transferred
and money released ,then buyer uses escrow.com to pay a shortfall
amount that I waived from original transaction and clearly since domain has
already been transferred nothing to do except payment be made.
Escrow.com now want to keep the monies and not release them until whenever
the buyer happens to wake up, which I know wont be for few days.
What is point therefore of 1 day inspection period ,if as they seem to say now
it is "whenever we feel like it ??" . If the buyer does not abide by inspection
time WHY must I the seller wait for days on end ?

This is not about the amount it is the PRINCIPLE of the matter !!!. Inspection
period means 1 day, NOT when they like to. So escrow.com
I hope you are happy you have lost customer and now I will
use Moniker escrow instead.

DG

You hit a nerve with me, DG!

That is exactly why I quit using Escrow.com long ago. I tell buyers, I'll agree to use escrow.com if they want to add an extra $300 - otherwise, I explain that Moniker, being an established and respected ICANN-accredited registrar, specializing in domain registrations and escrow transactions, is more secure for the buyer and seller, and faster, since they take possession of the domain and payment at the same time, and that Escrow.com was originally set up for transactions for things like tubas, bicycles and sports memorabilia, and eventually included domains. They never really got their shi* together for domain escrow the right way.

Escrow.com usually works okay, but, IMO, to do it right, the escrow agent should take possession of the domain and payment at the same time, and then settle up, promptly, with the buyer and seller. I think they lack that functionality, security and speed for domain transactions, and I find Moniker's services to be superior - and this reminds me of a quote from Rick's blog: "A great domain name allows you to suck and still stay in business." (REF: http://www.ricksblog.com/my_weblog/2008/10/branding-vs-bra.html)

 

[james2002]

Usually after inspection period, escrow automatically concludes the transaction. It happens to me twice.

Escrow is good service.

 

[theinvestor]

From my past experience, i find buyers approve transaction quickly and i receive payment within a day. It's definitely does not work like a true escrow service. I would prefer if escrow.com held the money plus the domain. Instead of having to push the domain to the buyer with the money remaining with a third party.

 

[Seraphim]

I had a similar problem two months ago, and now know that Escrow.com DOES NOT abide by their own terms of service agreement, and they are only interested in protecting the buyer. The seller has zero rights. I had a buyer rip me off by stealing a coded website, and not returning the attached domain until 10 days after the original inspection period ended. Escrow.com would not under any circumstances release the funds to me after the inspection period ended. They then forced me to take back the Google delisted domain outside of the terms of service agreement, by threatening to close the transaction without it being pushed to me. They gave me "hours" to get control back over the domain, it was a nightmare.

That was the last day I will ever use Escrow.com, and encourage others to absolutely avoid them.

 

[radioz]

I have had three buyers, who even when asked, didn't want to bother with going back to the site to clear my payment. One was a 'private registration' that clearly went to the customers site. They were in the real estate flipping business so I guess they were busy buying up condos. Hopefully they are poor now. That one took over two months and multiple letters as they couldn't verify that the customer had it. The customer finally agreed to 'waste' a couple minutes of their 'precious' time to approve the transaction.

 

[Raider]

Usually after inspection period, escrow automatically concludes the transaction. It happens to me twice.

Escrow is good service.

You have it RIGHT here, Regardless if the buyer completes the final step, Escrow releases the funds automatically regardless.

Try to be patient, You can always give Escrow a call to put your mind at ease, They are more than happy to answer your questions.

888-511-8600 Toll-free (USA and Canada)
1-949-790-5890 (International)

 

[Deleted member 5660]

Never use escrow.com for important transactions. Have you read their agreement? You could be in arbitration for months if the buyer decides not to approve the transaction. I know of at least one case where that was done purposly to try to get a lower price to "settle."

 

[DNP]

Escrow is OK, there are no alternatives these days...

 

[Raider]

Never use escrow.com for important transactions. Have you read their agreement? You could be in arbitration for months if the buyer decides not to approve the transaction. I know of at least one case where that was done purposly to try to get a lower price to "settle."

I've been using them for over 6 years now and never had a problem, I think it's unfair of you to be citing a case with no factual information.

 

[dominator]

escrow.com is no escrow

i hope everybody realizes that

the domain name should be transferred to the escrow account
not directly to the buyer

the reason to use an escrow service is security

the reason to use escrow.com and to pay them for nothing is ......ity

 

[Deleted member 5660]

Raider - I have had you ignore for a long time because you make a huge number of nonsense posts and you never have your facts straight.

For those that want the correct info simply read the escrow.com agreement. Using a domain attorney is the way to go. They charge the same or less, you have a reasonale agreement, and if there is a problem you get a live attorney on the phone instead of some zombie who works for escrow.com who won't sign his full name.

 

[domaingenius]

In reading the replies let me give you the latest exchange of emails;

From Escrow.com
Escrow.com cannot start the buyers inspection without some type of
confirmation that the buyer has received the domain. Please contact me
directly with any questions.

Thank you,

To Escrow.com in reply

Please tell me therefore what is the purpose of having
an "inpection period" ?. It is now 3-4 days and still
the buyer has not confirmed. Are we to wait until next week,
next month, next year , when ????

As I explained it is tied in with the earlier transaction, as
you can see clearly the domain name
is the same. So clearly if you accepted the earlier transaction
then what on earth can be wrong with this one ?

If you are really interested in client security ,then for example
I was selling xxxxx.com through you the other week.
Soon as was in their name you released the monies. Fact was
the domain was still in MY account and I could easily
have changed the whois back to myself if I was that way
inclined ,which im not.

Come on ,bring some COMMON SENSE into play. A blind man
could see the transaction is completed, the buyer isnt interested
because they have the domain and this is simply a small balance.

END QUOTE

The facts are simple. Last month I sold a domain name. The
amount received did NOT include enough to pay escrow.com
fee so I waived that on basis that the buyer said they would
pay me balance direct. Domain transferred and payment
released.
They did NOT pay me direct and eventually they said
only way accounts would approve would be to start new
transaction for the balance. I did that and used
same domain name. They uploaded money 4 days ago
and even though inspection period is 1 day and amount
small escrow.com are refusing to release money.
So when will I get the money, when escrow.com feel
like it ??

DG

 

[Rockefeller]

We hold the domain name and the payment and are far more secure than Escrow.com. The other problem with escrow.com is that they do not understand domain names..its just another source of profits for them. Try our service out and you'll see the difference.

 

[domaingenius]

We hold the domain name and the payment and are far more secure than Escrow.com. The other problem with escrow.com is that they do not understand domain names..its just another source of profits for them. Try our service out and you'll see the difference.

PM sent.

DG

 

[Seraphim]

We hold the domain name and the payment and are far more secure than Escrow.com. The other problem with escrow.com is that they do not understand domain names..its just another source of profits for them. Try our service out and you'll see the difference.

I'll try out your Escrow service next transaction.

 

[Raider]

Raider - I have had you ignore for a long time because you make a huge number of nonsense posts and you never have your facts straight.

Asking for factual information is nonsense?.. I suggest everyone put you on ignore for making claims you have trouble backing up.

In reading the replies let me give you the latest exchange of emails;

From Escrow.com
Escrow.com cannot start the buyers inspection without some type of
confirmation that the buyer has received the domain. Please contact me
directly with any questions.

Thank you,

Did you complete the step submitting the transfer confirmation?

 

[domaingenius]

Asking for factual information is nonsense?.. I suggest everyone put you on ignore for making claims you have trouble backing up.



Did you complete the step submitting the transfer confirmation?

Yes. In fact they paid out today 4/5 days after submission.

DG