How exactly does Escrow.com work? In Layman's terms.

[ZaZZeR.com]

I have a website that I have had an offer on. It's a mid six figure sale. The buyer wants to use escrow.com. He wants me to transfer everything to him and then escrow.com will send me the money. What is to prevent him from saying that he never received the site, even though he did? He would have my site and my money and I would have to take him to court and he could still just stiff me anyway. Any advice would be helpful.

 

[GT Web]

What is to prevent him from saying that he never received the site, even though he did?

Short answer - nothing.

I would use Moniker's Escrow service, they take control of both the money AND the domain so that this type of scam can't happen.

Escrow.com is far from safe...the seller could always change the WHOIS info and claim he transfered the site to the buyer, even if he did no such thing.

 

[ZaZZeR.com]

Thanks soooooo much.

 

[copper]

What if domain is registered else where?
Can moniker still do escrow effectively?
I mean, taking control of money and the domain?

Short answer - nothing.

I would use Moniker's Escrow service, they take control of both the money AND the domain so that this type of scam can't happen.

Escrow.com is far from safe...the buyer could always change the WHOIS info and claim he transfered the site to the buyer, even if he did no such thing.

 

[DNWizardX9]

What if domain is registered else where?
Can moniker still do escrow effectively?
I mean, taking control of money and the domain?

I use moniker for escrow transactions. Since they are a registrar they can ensure a better transfer of a domain name. They setup a seperate account so it doesn't matter where the domain is currently registered. It is great for domainers but if you go to the average joe they might not be familiar with what Moniker is and might not trust it. Direct them to ICANN's site and show that they are ICANN accredited.

 

[Shaggy]

The name is transfered to their site (Moniker.com). This is just the name, they do not really deal with the site content stuff. You would have to figure out a way to get that. But they are the best escrow service out there imho that help avoid the scams.

 

[dcristo]

I have a website that I have had an offer on. It's a mid six figure sale. The buyer wants to use escrow.com. He wants me to transfer everything to him and then escrow.com will send me the money. What is to prevent him from saying that he never received the site, even though he did? He would have my site and my money and I would have to take him to court and he could still just stiff me anyway. Any advice would be helpful.

They wouldnt have your money. If they reject the domain transfer, they would be required to transfer the domain back to you. I realise they can keep all the site files, but having complete control of the domain is the most important thing as you maintain control of the sites traffic.

 

[Honan]

I have a website that I have had an offer on. It's a mid six figure sale. The buyer wants to use escrow.com. He wants me to transfer everything to him and then escrow.com will send me the money. What is to prevent him from saying that he never received the site, even though he did? He would have my site and my money and I would have to take him to court and he could still just stiff me anyway. Any advice would be helpful.

You have an offer of around half a million dollars and you are asking questions here about how to complete the transaction?

 

[ZaZZeR.com]

You have an offer of around half a million dollars and you are asking questions here about how to complete the transaction?

Ummmm, yes. Is that really so odd? I have never had an offer that high and want to make sure that everything goes smoothly. I have never had a problem before, but with that dollar amount, I just want to be 100% sure that I don't get ripped off.

 

[BobDiGiTaL]

but with that dollar amount, I just want to be 100% sure that I don't get ripped off.

It sounds like a trust issue for both of you.

Why not meet the buyer in person? Make him give you cash, $USD.
Then physically transfer the domain and or files to him while sitting in front of the same computer. (maybe at a strip club?)
Tell him to fly you out on his personal jet.

 

[ZaZZeR.com]

It sounds like a trust issue for both of you.

Why not meet the buyer in person? Make him give you cash, $USD.
Then physically transfer the domain and or files to him while sitting in front of the same computer. (maybe at a strip club?)
Tell him to fly you out on his personal jet.

LOL, love the jet idea. However, I just got an email from him stating "My loan didn't go through so I won't be able to buy it now. Sorry."

Guess it doesn't matter now, huh? Now I'm so glad I posted this thread. I think he was a scammer and I would have lost a $175k/year income.