Domains and Escrow Services - Anyone Have A Bad Experience?

I haven't hit a stumbling block yet but there are some minor issues

[Webwork]

I've used Escrow.com many times to process domain sales and purchases.

The only hitch I've come across is twice buyer's didn't come up with the money. No big deal. No deposit. No transfer.

One small grievance I have with the process, at least as concerns Escrow.com's user interface, is that it allows a buyer a 7 day "inspection period" AFTER THE TRANSFER IS CONFIRMED by a WhoIs update.

That seems a whole lotta time to look at a WhoIs record and login to an account to confirm the domain is in the recipient's account.

Furthermore, as I understand it, Escrow.com's processors will themselves examine the WhoIs record.

Once or twice, when a buyer pre-announced travel plans to far off places during the transfer process, I agreed to a 7 day review. I can understand if there may be issues of finding a secure network connection. Even in those cases the buyers were able to login to their accounts while traveling and they didn't abuse the courtesy.

I suggest you take a close look at the escrow agency's TOS as they relate to credit card payments, especially if you have ANY reason to doubt the bona fide intentions of your buyer. I deal, almost exclusively, with deals that involve wire transfers - which present fewer issues of fradulent reverals, etc.

[Mauli]

Thank you for your feedback on your Escrow.com experience. The inspection period may be set to as short as 1 day with our default at 3 days. We do allow an inspection period to be set by the parties for up to 30 days, and both parties must agree to the inspection length at the beginning of the transaction. When a party adds a longer inspection period than you prefer, you may edit and update the inspection period before agreeing to the terms. Then, we notify the other party so they can agree. There are times when a longer inspection period is needed, but we understand that a short inspection is often enough time for the authentication or appraisal process to confirm receipt of the item.

The inspection period begins when the buyer marks or notifies us the item is received. It may also begin when we confirm the Whois record is correctly updated. We track the Whois information during the entire transaction and contact the buyer to confirm receipt. The buyer must accept or reject the goods within this period. The buyer may accept before the end of the inspection period, which will allow us to release payment to the seller and close the transaction. When the buyer does not respond to accept or reject after we confirmed receipt and the inspection period has started, we send payment and close the transaction at the end of the inspection. If the buyer has rejected and returned the merchandise, the seller will be provided with a five day inspection period to examine the returned merchandise.

We appreciate your comments on your experience with us. Please feel free to contact me any time.

Thank you,
Mauli Fry

[creeking]

don't agree to seven day inspections for domains.

[Webwork]

Well, nice to see you Mauli. Welcome to WebmasterWorld.

Mauli, has there ever been an instance of a domain being transferred followed by a credit card "reversal" or "declination of charge" (fraud, etc) AND IF SO how was that handled by Escrow.com?

This IS a NAGGING issue / concern. It would tend to leave the seller screwed, would it not, if Escrow.com attempted to "claw back" funds from a SELLER after the seller transferred a domain?

I've tried to imagine scenarios where it MIGHT happen. Unfortunately, one scenario would be a credit card company all to willing to simply believe a cardholder . . who lies, is a fraudster, etc. Say one who received a domain and then quickly transferred it to someone else and declared "I didn't get it!" There might be other scenarios.

Has Escrow.com ever sought to recover funds from a seller due to credit card related issues?

What about wire transfer issues - ones that came to light after a transfer?

My concern is that the whole point of escrow is to assure / guarantee payment. 100%. I deliver the goods. I get paid.

Silence on this question will only intensify my concern that there is a lurking / hidden "escape clause" the protects Escrow.com and NOT the seller . . so please address the question straight up. I've read the terms of service and to my legal-eagle eye there appears to be "wiggle room" - artful crafting.

Thank you.