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using an escrow to transfer a domain + content

is this the best way?

     
10:31 am on Jan 17, 2007 (gmt 0)

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im using an escrow service to buy a website. I will be hosting it on the sellers host for a while before I transfer it to mine, to ensure there is no downtime.

im just wondering when the best time is for them to give me the ftp password. he has said the best time is after he has received the payment from me.

this seems fair to them because if I had the domain & ftp password before I had accepted the deal I could theoretically download the content and then reject the deal.

but is it secure for me? what if they do not give me the ftp password? or delete the content after I accept the domain transfer? im sure they wont do anything like that, but I just want to make sure im doing it the right way, and ive not used an escrow before.

10:57 am on Jan 17, 2007 (gmt 0)

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What happens is you place the money in your Escrow service, and they hand over the ftp details and passwords, you should then transfer it all over to your own accounts.

THEN you go back to the Escrow service and complete the transaction meaning the seller will have the funds transfered to them at this time.

Thats the way I have done it in the past.

2:57 pm on Jan 17, 2007 (gmt 0)

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so I should ensure the escrow is given the ftp details and not merely rely on the seller giving them to me?

that would make sense.

3:56 pm on Jan 17, 2007 (gmt 0)

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essentially, that is what escrow is for. They are the middle person that ensures the transaction is completed properley and appropriatley so that both parties involved aquire what they are in escrow for.

I worked in escrow for 6 years and that was our job. To ensure both parties involved did what they were supposed to do.

Yes, escrow should hold the information until the transaction is final then pass the info.

If the seller does some "shady" stuff during the close of escrow, they can be held liable for any damages or financial loss.

good luck.

 

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