Hello, I wanted to buy a website at flippa and decided to use Afternic as escrow. The site deals with dropshiping and the seller did not want to disclose the suppliers until the money were in the escrow. He did and he also gave me access to the site. And when I have checked the logs, the traffic took a major hit from when I initiated the escrow. I don't want to pay such a large amount of money for a shit site, but afternic tells me I've entered a binding agreement and both parties need to agree in order to cancel the deal. Ofcourse, the seller doesn't want to do that. What are my options here? Any help is appreciated!
Do you mind linking to the "binding agreement" that you've agreed to, so people can look for loopholes etc.
Thanks for your reply! Now that I think of, it wasn't presented to me and I didn't sign anything?! The only think about their escrow service they have on their site is here http://my.afternic.com/faq/category/escrow-services/ And they don't cover situations like mine..
Afternic escrow is to insure that the domain name is transferred to you. If the seller delivers the domain but misrepresented the site to you, then you would have to bring a civil suit against them. Unless you are talking about a very large sum of money, it probably isn't going to be something you want to throw more money at.