Money in escrow still no push!

[INVIGOR]

There was a domain listed on afternic. I went ahead and paid the money via wire transfer into their escrow service. This was completed weeks ago and still no control of the domain. What recourse do I have? Isn't his agreement to sell as binding as my agreement to purchase? Problem, he's in Australia I'm in the US. Can this be arbitrated or do I have to sue where he lives or where the registrar is or where I live? HELP anyone please!

 

[maroulis]

There was a domain listed on afternic. I went ahead and paid the money via wire transfer into their escrow service. This was completed weeks ago and still no control of the domain. What recourse do I have? Isn't his agreement to sell as binding as my agreement to purchase? Problem, he's in Australia I'm in the US. Can this be arbitrated or do I have to sue where he lives or where the registrar is or where I live? HELP anyone please!

when you say "their escrow" you're referring to Afternic's? Afternic should be able to mediate this w/out need to go to court anywhere.. The funds wouldn't be released to the seller unless domain was pushed to your a/c and you confirmed it...

 

[INVIGOR]

Yes, Afternic's escrow. I'm not concerned with losing the money because it's in their escrow, the point is I want the domain for the amount agreed to. Afternic even contacted the guy before I sent the money to make sure he'd honor the deal and the price was acceptable just to make sure. I'm trying to find out what legal recourse I have to compell him to honor the agreement.

Thanks!

 

[maroulis]

Yes, Afternic's escrow. I'm not concerned with losing the money because it's in their escrow, the point is I want the domain for the amount agreed to. Afternic even contacted the guy before I sent the money to make sure he'd honor the deal and the price was acceptable just to make sure. I'm trying to find out what legal recourse I have to compell him to honor the agreement.

Thanks!

i've not used for quite some time, but if their service is like Sedo's then you got no recourse whatsoever... Even if you were to take it to court, you'd spend $5-10K minimum and you still might lose..

John B. might be more suitable to answer this.

 

[INVIGOR]

And another thing, Afternic said THEY had control of the domain and would transfer it as soon as the money was put in escrow. After the money got there and no transfer they conceded they didn't have control.

 

[georgeh]

I am not sure about afternic. Sedo asks for money first. Once the money is in their escrow account, they contact the seller and ask the seller to push domain to their specified account. After these two steps are completed, the seller gets the money and the domain is pushed to the buyer.

 

[jberryhill]

And another thing, Afternic said THEY had control of the domain and would transfer it as soon as the money was put in escrow. After the money got there and no transfer they conceded they didn't have control.

In what manner did Afternic represent to you that they had control of the domain name?

 

[INVIGOR]

John

I'm almost certian it's in an email from afternic on my desktop. Firing it up now and will let you know in a bit.

In what manner did Afternic represent to you that they had control of the domain name?

John, ok, he sent one email saying "everything is wrapped up" there at the end the day after they received the the money. He asked me which registrar I used and got my "username" at Moniker over the phone. However, before this he sends an email stating "The purchase process is quick and secure and you will have complete ownership and control over this domain. If you have any questions or would like some personal assistance, please feel free to contact me directly." He advised me on the phone they had control of the name too. This was very, very important to me as I didn't want my company to send the money if he wasn't going to go through with the deal. Hence, the reason they called him and even got him to agree to a lower price. He also told me once they had my money, the domain would be in my control within 24 hours. Payment has been in their hands since 5/20 or 21.

 

[INVIGOR]

Happy to report that after a LOT of emails, communications with the registrar and the broker, emotional rollercoaster, etc... the name was FINALLY transferred. www.exchanger.com! Tickled to death!

 

[DomainBuyerBroker]

Congrats. Sometimes transactions are an ordeal. At least this one worked out in your favor.

 

[Raider]

Just to note, The email that Afternic sent you, was not an acknowledgment they had control of the domain, But its water under the bridge, Congrats!

 

[jberryhill]

Just to note, The email that Afternic sent you, was not an acknowledgment they had control of the domain,

That's what I figured, but I didn't have the patience to sort through "he" and "they" in the word salad above.

 

[Focus]

word, glad it worked out...nice name