Hi All, Just a quick question. If im selling a website for a large amount of money and i want to use escrow how do i ensure i dont get ripped off. I understand that the buyer deposits the money say with escrow.com, i send the websites transfer the domains etc, then if the buyer is happy escrow releases the money to me. What happens if i send all the websites, domains etc, and the buyer decides to reject the sale, i dont get any money and the buyer has all my websites and domains. It just seems a bit worrying for me. Can anyone give me some advice please. Thank you, JC
i was screwed over by an escrow company. I used sedo to by a site. I sent the money in and then waited for the info for the site. Nothing came and I emailed them over and over. Still nothing. Someone finally answered and said they were sorry but they released the money to the other person!! So no site and no money. Defeats the purpose of the escrow I would think!
It works this way: The buyer pays for the domain name first, Escrow then witholds the payment until you transfer the domain to the buyer. Escrow then checks the WHOIS of the domain and when they see the domain is already transferred to the buyer, you'll get the payment. Read this: https://www.escrow.com/solutions/domain_name/index.asp So, I think it's secure. I haven't used Escrow yet, but when I'm to sell a domain name, I will use it.
Well, Escrow.com track the ownership of the domain name by whois record. What is seller just change the whois and don't actually push the domain name? What is the buyer receives the domain name and keep the old whois in record? Escrow.com will think domain was never transferred. What will you do then? A lot of flaws that someone with nasty thinking could exploit. I am not sure which is dead-safe method for such large transactions.