Hi there. This is regarding the issue of the buyer backs off to buy my website. I've transferred the domain name to him, and now he do not want to buy the website. He insisted that I must cancel the escrow.com transaction (his money is in it) before he push the domain back to me. So can I get your advice? Should I cancel the escrow first or I should get back my domain first. I'm afraid that if the escrow is canceled and he runs away with my domain. And can godaddy reverse the transfer to me if the buyer runs away? I've heard that the domain name is not available for transfer for 60 days if just transferred. I need you opinions while waiting for escrow.com and godaddy support. Thanks.
Escrow was set up to protect you so he can't get both the domain and the money. Don't cancel the escrow. I wouldn't try to get the domain back either. Your best bet is to complete the transaction. He has the domain so you should have the money. If he has the domain why can't you get the money out of escrow?
Contact Escrow, let them know what's happening. They are generally pretty available if you give them a call. I am NOT a lawyer but I believe you are entitled to the money under the Escrow contract even if he wants out, it's already too late I *think* once the money is sent, it's done.
tobycoke, escrow.com is horrible, it requires both parties to authorize the release of funds before money is transfered. Basically, name aside, it is not a "real" escrow service, they do not take possession of any of the digital assets (next time use Moniker). As for question, ashiezai, you can cancel the transaction with escrow, but, you need to reverse the transaction in the order in which it was conducted. Since your money can not be released unless the "buyer approves", there is little risk to him in transferring the name back. Nonetheless, I would write up an addendum to the purchase agreement. Good luck...
the buyer doesnt want to transfer back the domain to me first, insisting that he need to have his money back first before pushing it back to me, despite that I have already explained to him that I can't take away his money from the escrow. What should I do? The worse part is the domain name is with godaddy, and their support is so slow.