Is ESCROW 100% safe or can a Scammer still manage to get away with fraud - opinions

[dnforumdude]

Everybody has to do their own calculations each time. But here are the rates.

SEDO SYSTEM
- Sedo listing or auction sale (Includes escrow) = 10%

- Outside Sedo sales negotiations and want to use sedo escrow, BUT the domain is listed on sedo's listings. Even if the bid has not been done on the listing, rate is still = 10%

- Outisde Sales negotations and domain is NOT listed on sedo's listings, then the rate is = 3%



MONIKER SYSTEM (Refer to the table below for a better understanding)
- moniker does not have a fix % rate. They work with ranges. Therefore depending on where in the range your SINGLE domain sale in question falls, the rate might differ.

----)))
- For example you have a domain with an agreed sales price of 1000$, then the charge is 75$ which represents 7,5% of the sale.

- If you have a domain with an agreed price of 1002$, then the charge is 99$ which represents 9.8% of the sale.

- If you have a domain with an agreed price of 2000$, then the charge is still 99$ which represents 4.95% of the sale.

- If you have a domain with an agreed price of 10 000$, then the charge is 200$ which represents 2% of the sale.

Therefore even if the price is fixed in ranges. Depending on where you fall within the range does make a difference.


Domain Sale Price in US Dollars Basic Escrow Fees in US Dollars
$1 - $500.99 $50
$501 - $1,000.99 $75
$1,001 - $2,000.99 $99
$2,001 - $3,000.99 $125
$3,001 - $5,000.99 $149
$5,001 - $7,000.99 $175
$7,001 - $10,000.99 $200
$10,001 - $15,000.99 $250
$15,001 - $20,000.99 $300
$20,001 - $30,000.99 $350
$30,001 - $50,000.99 $450
$50,0001+ .0093 of the total

Important fact. If you have 3 domains with an agreed price of 600$, 1500$ and 2500$, you CANNOT add 600+1500+2500 and say it's 4600$ therefore my rate is 149$ which represents 3,2%.

The way MONIKER CALCULATES THE FEE
600$ = 75$ fee
1500$ = 99$ fee
2500$ = 125$ fee
Total fees = 299$ which represents 6,5%




CONCLUSION: BASED ON THE CRITERIA AND THE INFO I PROVIDED ABOVE, YOU CAN EASILY CALCULATE YOUR SEDO FEE. FOR THE MONIKER FEE YOU HAVE TO CHECK THEIR ESCROW TABLE AND CALCULATE EACH TIME. RATES CANNOT BE GENERALIZED IN THE CASE OF MONIKER.


SIDENOTE: If the domain is being transfered from one registrar to Moniker's supposedly one year registration is included. But if it's a multi domain sale, then there are additional charges for the yearly registration for each. (I am not 100% sure of this last fact, but that's what I understood from the response I got from them in an email correspondence)
In some cases Sedo is cheaper in other cases Moniker.
ONLY OVER A 10 000$ SALE MONIKER HAS THE LOWER OF THE RATES.

Hopefully this information was useful and will save you money.
(I provided the information at the best of my abilities and I am not accountable for any liablities. This is just to help, everyone should do their own calculations)

Dnforumdude

 

[Shaggy]

Well, dnfdude. Moniker makes sure that you and the buyer have the money and the name. Sedo, and escrow do not. The buyer can easily keep your whois info on the name after you pushed/transfer the name to him and say you still own it. Sedo and escrow.com will of course look into it, but will still see that your whois info is still on the name and then give the money back to the buyer. Now he has both. Moinker has the seller (you) transfer the name to their offical moniker holding account, and that name is then pushed into the buyers account, 100% knowing that the buyer has the name now and the buyer can not scam you in anyway. Even if he did a chargeback on his cc( I doubt they can even do that with moniker's setup), Moniker will then take the name out of his(buyers) account and then put it back in yours.

I wouldn't care if I had to pay a extra few bucks to make sure my ass is 100% covered. I wouldn't be cheap on assurance! I use moniker and only moniker!

 

[dnforumdude]

Alright I understand your point of view also.
You mentioned "(you) transfer the name to their official moniker holding account:"

What if the domain I own is not registered with Moniker to begin with. Let's say it's godaddy. Then how does it work. I again somehow transfer the domain to their holding account?


and If it's the case, then the buyer is forced to pay a years registration at Moniker?
(Assuming the deal is for more than one domain)

 

[Raider]

Registrar
Domain Broker
Auctioneer
Appraisal Service
Escrow Service
Parking Service

As much as I like Moniker and use some of these services, I dont like putting all my eggs into one basket.

 

[Monte]

if your domain is outside of moniker, we prefer to move it to our escrow account at Moniker and a year is received at no additional cost. if a name is locked at a registrar like godaddy, we have a special escrow account at every major registrar to perform the same. The key is taking both the funds and assets into escrow, making a completely safe transfer and change of ownership simultaneously. we treat both small and large transactions as asset sales no matter the size so we do not use automated agreements that are not enforceable in court. there are signed agreements, and protection for both parties all the time.

This also helps to ensure legal rights as either buyer or seller in a transaction.

 

[dnforumdude]

Just to be sure it's clear. If I'm the seller and 3 of my domains which are registered at godaddy.com and are NOT locked. If I use your escrow service, I transfer the domains to your escrow domain holding account.

1)Is the transfer free

2)You mentioned a year received at no additional cost. Who receives it, me for transferring or the "buyer" once the domain is transfered to him during the escrow dealings.

3)What if the buyer has a godaddy.com account and wants the 3 domains he's buying to remain with godaddy.com? Is it possible for Moniker's Escrow service to verify with godaddy that the domains were indeed transfered from the seller to the buyer (AND not release the funds until it's confirmed by godaddy.com)

 

[Monte]

yes the transfer is free to you and the buyer - its included in our escrow fees for one domain. if you have more than one name, we charge for that transfer/renewal on the rest

The buyer gets the year when they take possession of the name (it comes when it hits our escrow account)

Yes we can move within Godaddy through our escrow account there. we again change ownership and release funds simultaneously at GD or any of the other larger registrars. We do this for our auction sales all the time.

also, we transfer the domain to our escrow account, you do not have to. you just unlock the domains and give us the EPP codes and we do the rest.

 

[dnforumdude]

Thank you for the information appreciate it.

Just a quick question.

1) You said if it's more than one domain the first one is free registration for the rest there's a charge. To whom is the charge. For me for letting the domain be transfered to your holding escrow account Or the party who is the "buyer" foots the bill of the renewal since he's the one buying the domains?

 

[Monte]

well - we do portfolio sales all the time so what if you had 100 names, obviously the escrow company would not pay $800 in renewal fees.

The buyer would get the benefit so he would pay with his portion of the fees.

 

[dnforumdude]

one final clarification if you would.

If the domain is in godaddy and the buyer is also with godaddy. If I use your escrow service, since the domain is going from godaddy to godaddy as both buyer and seller are with the godaddy.com registrar, Do the renewal fee issue still apply.

Or since the domain just has to be pushed and the remainder of the initial registration just passes on to the buyer and it's up to the buyer to renew when the time comes?

assuming it's more than one domain

 

[Jernet]

Used Escrow.com in dozens of transactions. No problem whatsoever.

same here. exactly 36 times

i wish they had a feedback rating system like ebay... k:

 

[poulos]

I think moniker escrow is better and safer,
but with several transcations at escrow.com never had a problem,
sedo is good but takes more time,

 

[DropWizard.com]

I do know of a case where Escrow.com had the $$$ in hand and the domain was transferred to the purchaser. The purchaser's lawyer then wrote Escrow and stated they had a TM on the name and if Escrow did not refund the $$$ to them they would sue.

Escrow folded and the domain owner lost the domain and the loot.

I've just been through a Moniker transaction myself and I can give them a 100% rating. Much safer system.:approve: