escrow services

[cleverlyslick]

what are the good escrow services? what is an average fee for escrow? does the buyer cover the fees when a domain is sold?please send responses.a little lost as far as transaction goes.

[jdk]

I'd use Moniker's Escrow service.

Usually the escrow service asks who you want to pay the fee. It is btw you and the buyer/seller who ends up paying it.

If you were selling a domain, you would go to the escrow site to start the transaction. You would submit your info, the other party's info, select who will pay the fee, and answer a few more questions. From there you will both be sent a form (at Moniker anyways) where you both need to sign and send back. This is a legal agreement. Other party submits domain/cash, you submit what you need to and it goes from there.

[randomo]

Why do you prefer Moniker's escrow service to, say, Escrow.com?

The latter doesn't require you to sign & send forms. (I guess that could be a positive or negative, depending on your perspective.)

I like Moniker's services in general ... just wondering why their escrow is best.

[cleverlyslick]

thanx for the info.i don't have any of my domains regged at moniker though,they're all at GoDaddy.does that matter?

[DomainMagnate]

http://www.escrow.com/solutions/escrow/process.asp

[jdk]

thanx for the info.i don't have any of my domains regged at moniker though,they're all at GoDaddy.does that matter?

Nope,

How do domain(s) transfer into our escrow account?
The following actions must take place for a successful domain transfer into Moniker escrow

The following steps are done in your domain manager with your current domain registrar.


Remove privacy from domain (applicable if you have privacy on your domain name).
Unlock domain name.
Retrieve transfer auth code (usually sent via email to tech contact).

The seller receives domain authorization emails for all domains involved in the transaction. Once you have the transfer auth code from your current registrar please click the link in this email to approve the transfer into our escrow account. Transfer can take between 5-10 days to arrive into our escrow account unless the domains are already at Moniker.

The best thing to do is go to the escrow service you are looking at using and reading their FAQ's.

http://www.moniker.com/help/faq_escrow.jsp

[DNCredit.com]

In deciding which escrow service to use you might want to consider:
- fee structure based on the value of the transaction (i.e. how much would it cost?)
- complexity of transaction (Is it a one-off transaction? Does it involve multiple names and/or registrars? Does the settlement involve conditions being fulfilled by either buyer/seller? Does settlement occur over a period of time vs. one-off?)
- Payment options (How do I pay? How do I receive funds?)
- Limits on payment options (e.g. $XXXX on Paypal for US residents only)
- Risk of chargebacks and fraud (How does escrow service protect you from counterparty risk?)

HTH

Jon

[Fatbat]

I've completed three fairly large transactions for three domains (read X,XXX to XX,XXX) using Escrow.com, 2 sales and one purchase, and have always negotiated that the other party pay the fees.

I can't say enough good things about Escrow.com, they have always worked for me.

[copper]

Be careful even with escrow.com
escrow.com is just responsible for the fund.

As buyer - you may be buying it from thief.
As seller - there is chance that you pushed the domain, but, not getting paid.
As seller - using Moniker.com will prevent above pitfall, but, still have slim chance of losing domain and $.

[Johnn]

What if you bought a stolen name and the name is returned to the right owner after you paid?

[stevo]

As seller - there is chance that you pushed the domain, but, not getting paid.

How would/could that happen. They secure funds before you transfer to the other party.

[copper]

How would/could that happen. They secure funds before you transfer to the other party.

Trust me.
I can assure you this CAN happen.
As much as I would love to post how it could happen, I rather not.
I am thinking there will be lurkers who would use this to scam other people.

By using Moniker escrow, this could be prevented, however,
I think Moniker has it's own problem unless buyer send money by wire transfer.

[Warrior]

What if you bought a stolen name and the name is returned to the right owner after you paid?

I was reading a thread where that happened. I dont know of any Escrow service that would offer protection in this instance, do you?.