I am considering selling a domain name I have and wanted to find out if there are alternatives to using escrow.com? And if anyone has used some other method, please could you share your experience/experiences.
phranque
1:58 am on May 18, 2023 (gmt 0)
it might help to know why you are looking for an alternative.
AA_Spark
6:41 am on May 18, 2023 (gmt 0)
Its mainly the two fees they charge.
phranque
8:18 am on May 18, 2023 (gmt 0)
how else would an escrow service stay in business?
AA_Spark
9:02 am on May 18, 2023 (gmt 0)
Agreed, but that is not what my question is about.
engine
9:06 am on May 18, 2023 (gmt 0)
I've never used any alternatives as i've found it safe to use. But it's been a while since I last needed to use such a service, and, perhaps, someone else will be along with more up-to-date info.
BTW, I built in a fee into the sale to cover the cost.
phranque
10:13 pm on May 18, 2023 (gmt 0)
that is not what my question is about.
your OP didn't mention you were looking for a no-fee service. without this information you are likely to get several unsatisfactory responses.
AA_Spark
11:11 pm on May 18, 2023 (gmt 0)
(sigh)... - I am not looking for a no fee service. I thought my questions was quite clear. Clearly not for some.
buckworks
1:33 am on May 19, 2023 (gmt 0)
For one website I sold, my lawyer provided the escrow services, in consultation with the buyer's lawyer. It went smoothly.
I have also dealt directly with buyers and sellers... we trusted each other and did not use an escrow service. Those transactions also went smoothly.
Escrow.com does a good job of helping strangers make deals. You can specify which party will pay the fees.
Webwork
2:05 pm on May 19, 2023 (gmt 0)
I stick with the tried (100Xs+) and true - Escrow.com - because, when it comes to domain/financial transactions, business reputation + simple process ALSO have value.
If you have a personal reputation "in the business" sometimes the parties can proceed without using any form of escrow. I wired tens of thousands of dollars to a gentleman in Asia (Taiwan?) known as "Yun Ye" - of Utlimate Search fame - without insisting on using an escrow service. Why? 1) I suspected that any added friction would could him to ignore me; and, 2) I believed my money was small change to him and not worth compromising his reputation by acting deviously.
He eventually sold his domain portfolio for ~$175,000,000. USD.
Know your buyer and, if possible, be a "known seller" - someone others can report as reliable and trustworthy.
If it's a <$1,000.00 transaction you can take your chances via PayPal payment.
I you are well acquainted with a reputable 3rd party, someone you and your buyer trust, you may take a shot at using that individual as "escrow". Dicier, but possible.
