Sedo needs to change another policy

[StockDoctor]

This is NOT good, and Sedo needs to do something about this stuff.

Name is sold. Buyer pays Sedo and puts in for a transfer to his account. Name is transferred, but the whois stays in the sellers name. The name is now in the buyer's account, but Sedo does NOT pay the seller until the name whois changes.

What if the new owner doesn't change the whois, and plugs on porn, uses the name to spam, or whatever slimy stuff? Not only does the seller not get his money, he has no way to access the name to change the whois, nor even find out who the new owner is. Isn't the seller now subject to a liability risk, and may have to spend money to defend against a missdirected suit or other action?

 

[denny007]

Sedo claims they can verify the transfer by registrar. If not, the only realy safe escrow is Moniker, as the domain is transfered first to Moniker sellers account, than the seller transfer to Moniker buyers account. Than Moniker verifies it.

 

[maxo]

Stocdoctor,

Actually if there is a delay from the buyer's side with updating whois, but the domain name is transferred you will not loose your money, just your payment will be delayed. I do understand that it is very confusing to wait for the whois update, but Sedo should keep up with the security policy to make sure that buyer is indeed the new owner. Sedo will do their best to contact the buyer and if they are not able to then they will release the money after some time.

As for moving the domain name first to Moniker, it's very convenient for the Seller, but not for the buyer actually. What Moniker does with that is forcing new users to use their Registrar.

 

[DomainTurn.com]

stock doctor

I always e-mail them after to info change

they seem to fund the next day

i think tracking the transfer and transferer is out of there hands

it's like telling someone to "hurry"

 

[denny007]

Sedo will do their best to contact the buyer and if they are not able to then they will release the money after some time.

What if buyer will claim he did not get it ? Will they give the money anyway ? And what if the seller would be dishnoest and woud change the whois and claim he transfered ?

The only way to do real domain escrow is what Moniker do. And they do NOT do it for "forcing new users to use their Registrar" - once transfered, the buyer can move it another registrar for sure. They do it simply because they can CHECK the real push.

I tried to talk Enom to do Escrows too, they told they considered it but there is allegedly too many legal problems. I would not see problems with it - they just CHECK the push from account to account within Enom system...but the recent law system in western world, especially in the US, lack common sense, so everything is possible...

 

[StockDoctor]

To clarify, when Sedo has the name pushed or transferred to them first and then later changes the whois before delivering to the buyer, that's not a problem.

What IS a problem is when the buyer puts in for the transfer himself and Sedo tells the seller to approve it and the name does go to the buyer. If the whois is NOT changed by the buyer, not only is the seller NOT paid, but the buyer has control and can do whatever with the name, hiding under the name of the seller.