artefaqs - 8:56 pm on Mar 10, 2010 (gmt 0)
nomis5 - That was what happened the last time I sold a site, which was in late January.
From memory (so I may have left something out):
Step 1: Buyer started a new transaction and sent money to Escrow.com
Step 2: Buyer's money cleared Escrow.com and Escrow.com notified me to transfer the web site.
Step 3: I uploaded all of the code to the buyer's server, began the domain transfer notified Escrow.com.
Step 4: The "inspection period" started. Three calendar days during which the buyer had the option to tell Escrow.com that he liked what he saw and to release the money to me immediately. But the buyer wasn't everything he was supposed to be (not technically savvy) so at the end of the three days of me trying to explain what a database is to the buyer, Escrow.com verified that the domain had been transferred (through a whois lookup) and released the money to me.