Sedo escrow?

[Onward]

Ok. I have an xx,xxx sale at sedo which has been going on for more than 2 weeks now...I am the seller....the buyer contacted me right after we reached an agreement...sedo has been sitting on the buyers money since day one.

Sedo does not seem to be in any hurry to ask me to transfer the name and they just seem to be sitting on the xx,xxx payment.

Does sedo collect interest on the money while the sales process is taking place? They really seem to be taking their time while both the buyer and the seller is waiting for them to do their job.

Is it that sedo's customer service has come to be so bad or are they just ripping me and the buyer off ...blind? an xx,xxx sale sitting in no where'sville is one thing, but they have many sales that they may be sitting on.

Does anyone know if sedo has a zero interest escrow while the transactions are taking place?

 

[Gerry]

Most of my payments have also gone this way. Only one went in 11 days post payment. All others have been a minimum of 34 days with a few going into 45-60 days. No sense in this what so ever. Buyer confirmed payment and it sits and sits.

By the way, this is when the buyer actually does pay. Most of my "certified buyers" have been "certified virtual" and paid in virtual funds. Been paid for about 25-30% of all Sedo sales this year which is pitiful. Of course, all buyers (I have been told) are legit buyers and good customers.

 

[Onward]

wow. one out of four tranactions actually getting payed is terrible.

I have found that I eventually get paid, but after both parties have to wait for sedo to collect their interest on our transaction....usually 3-4 weeks.

 

[DNP]

I didn't have any problems with them and it took not more then 7-10 days for all my deals.

 

[Gerry]

wow. one out of four tranactions actually getting payed is terrible.

I have found that I eventually get paid, but after both parties have to wait for sedo to collect their interest on our transaction....usually 3-4 weeks.

I forget the total number, perhaps 10 or so have not been paid. Very discouraging. That is why now as soon as I get an offer and the sale is "supposedly completed", I redirect to another parking service.

Sedo takes the domain out of circulation and it receives no traffic and generates no revenue. One domain it took 94 days before they would finally admit and come to their senses that, gee...maybe the buyer is not going to pay.

I will have to go back and look at all the transactions. I was so furious with this agent and how this was handled. I contacted Sedo and demanded that she never handle any parts of my account anymore or I was history. She just would not take no for an answer, all the time reassuring me she knew the buyer and it was a trusted buyer.

This was perhaps 1.5-2 years ago. It is better. But I have to remind them every now and then to cancel the transaction (per their TOS) and release the domain name.

Nothing is perfect. I am 0% completed sales on Afternic.

 

[dotNetKing]

I'm very happy with sedo's escrow for "external transactions" (ie names not listed at sedo) except for the following:

Sometimes they take over two business days to get things started after the initial e-mail and I think they should try to get things moving during the first 24 to 36 hours.

Recently I have had several changes of mind on whether the transfer will be to a different registrar or a push to the registrar's account at sedo, when it would have been quicker to go for the push first rather than go through the delays of requesting EPP codes first.

Despite this, I generally prefer sedo.com to escrow.com as I don't lose the US$40 wiring fee that escrow.com deduct.

 

[SedoCoUk]

Hi dotNetKing,

I do recognize your point with regards to the time it takes to get an external transfer up and running. All emails we receive are worked on a first come first serve basis and that invariably can lead to a delay. We are in the process of revamping our entire transfer system and we hope to incorporate a more automatic external transfer process, to minimize the time lag.

On your second point which is more general to transfers as a whole. I always recommend (when possible) to buyer's that they should take a push at the current registrar. This gives a buyer control much faster and they can then transfer it to another registrar at a later date.

Cheers,

Tom

 

[DomainMagnate]

Tom, I sent you a pm. Thanks

~MG