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buying domain from private party, escrow?
limoshawn

5+ Year Member



 
Msg#: 4175780 posted 2:37 pm on Jul 24, 2010 (gmt 0)

looking at escrow.com to handle the money, anyone have any thoughts, suggestions, warnings?

 

buckworks

WebmasterWorld Administrator buckworks us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4175780 posted 2:44 pm on Jul 24, 2010 (gmt 0)

Things have gone smoothly every time I've used it.

I've only used it for dealing with strangers, though. If I'm dealing with someone I know and trust, I don't bother with escrow.

limoshawn

5+ Year Member



 
Msg#: 4175780 posted 3:00 pm on Jul 24, 2010 (gmt 0)

Thanks for the feedback Buckworks, this is a purchase from a stranger so I thought it would be best to do an escrow. Also the purchase price is 5k so I didn't really want to take any chances, most I've ever paid for a domain.

creeking

5+ Year Member



 
Msg#: 4175780 posted 12:37 am on Jul 25, 2010 (gmt 0)

I have used sedo.com with no problems.

CannyInvestor



 
Msg#: 4175780 posted 1:46 pm on Jul 25, 2010 (gmt 0)

You can also consider using Transpact.com for escrow.

Not only will you save some considerable expense, but Transpact.com also allows you to tailor your domain/web handover conditions to your liking, so it is much more flexible than many escrow services. Those who have used it for domain/web handover have raved about it.

It is UK Government (FSA & HMRC) registered.

wesmaster

5+ Year Member



 
Msg#: 4175780 posted 8:43 pm on Jul 26, 2010 (gmt 0)

I've used both escrow.com and Network Solutions' certified offer services with success. I think escrow.com ends up being cheaper on higher dollar (thousands) purchases.

nomis5

WebmasterWorld Senior Member 5+ Year Member



 
Msg#: 4175780 posted 9:53 pm on Jul 27, 2010 (gmt 0)

I think escrow.com are California based. Are you in California? If not think carefully. I'm from the UK but as far as I know different states in the USA have their own laws.

You are using escrow.com to protect yourself but consider carefully if California law gives you the protection you want. Other posts on WM indicate that possibly using escrow.com is useless unless you live in California.

If the amount of money you are talking about is US$5k then forget using an escrow company altogether. Talking to a lawyer for 15 minutes will cost you $$$$ and you will be no better educated after it.

My advice is greater then $150k then think about the legal aspects. Less than 150k then use your own instincts. Lawyers will suck you dry for smaller amounts and are not worth the effort.

Jane_Doe

WebmasterWorld Senior Member jane_doe us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4175780 posted 11:47 pm on Jul 27, 2010 (gmt 0)

I have bought domains with escrow.com and things have always worked out well.

limoshawn

5+ Year Member



 
Msg#: 4175780 posted 3:09 pm on Aug 14, 2010 (gmt 0)

follow up:
things went fairly well, transfer was completed. my only complaint about escrow.com was that they allowed the seller to badger them into starting the 24 hour buyer inspection period prior to the domain being completely transfered. That could have blown the deal, if we had not had control of the domain before the inspection period was up we would have had to reject the transaction. If that would have happened the domain could have been in limbo for 60 days per domain transfer rules, which really would have effected the seller more than us.

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