I've sent money all around the world, never relying on escrow, because I firmly believe that there are MANY people who value their reputation far more than they value a few thousand or tens of thousands of dollars. Such are the people that I have wired money to without a contract, without using escrow.
Have I ever used an escrow service? Sure, a few times, mostly when I was dealing with someone about whom "evidence of standing and/or reputation" wasn't readily available.
But, really, at this stage of the domaining process I'm no longer open to a buyer appraoching me and insisting on using an escrow. Why? Because implicit in the demand/insistence, is the unstated belief or suspicion or concern that I may be a thief - I'll take the money and never deliver the goods. As if I just crawled out from under some rock where I've been hiding since my last domain deal heist. :P
If this costs me a deal here and there, so be it. I am no longer willing to countenance the implicit "I doubt your honesty". Phooey! You asked ME to do business, but I'm untrustworthy? So why are we doing business?
Forget the fact that as a lawyer, as in the case of most lawyers, after some ~30 years of practice I've handled millions of dollars of other people's money - essentially "as escrow", i.e., money "in trust" (my trust account).
Sure, I get that most people don't have that extra credential, but most people I did business with didn't have it. What they had was evidence of standing, evidence of business reputation/success. In other words "no bad rap".
So, in forgoing deals where a buyer insists on using an escrow service, am I acting like a loon? A bit to prissy, full of my self, high on my horse?
Or is it just a matter of "Hey, it's your choice to pass up the money . . . you loon"?
When or under what circumstances is escrow a necessity? When are you willing to dispense with "domain escrow"?
Is escrow fool/failure proof? I have my doubts that it's a perfect system. Anyone ever use an escrow service and get burned?