A good Domain Purchase/Sale transaction via Escrow.com

[David G]

I would like to report on how rapidly my domain purchase went using Escrow.com and ask others if they had similar success on transactions? It sure seems to beat Afternic's old escrow method!

Escrow was opened on Nov 7 and domain was transferred today Nov 13. If it was not for confusion on one step in the process the transfer would have likely been a few days earlier as that confusion caused a 3 day delay since escrow.com made that step unclear and confusing.

In either case the transaction was speedy and we were both satisfied overall. However, the escrow fee of $250 which we split 50/50 seemed high.

The reason we went thru escrow.com is I do not believe the other party is a member of DNF plus the amount involved was substantial ($4,000) for the 14 letter and 3 word dot-com name. This name is an industry keyword phrase/term I wanted to own and should go way up in value as the new service matures over the next few yrs., so the investment should pay off.

Here is a printout of the entire transaction to show dnf members how well it went if you also want to use escrow.com

11/13/2002 11:56:38 AM
Buyer accepts merchandise, transaction complete.
11/13/2002 11:54:39 AM
Buyer received merchandise. Inspection period starts.
11/12/2002 11:59:24 AM
Seller submitted transfer for domain
11/8/2002 8:18:53 AM
Escrow.com approves payment.
11/8/2002 7:49:43 AM
Payment received, seller will be prompted to ship after payment is secured.
11/8/2002 1:05:44 AM
Buyer paid, awaiting Escrow.com approval.
11/7/2002 1:09:05 PM
Both parties have accepted the offer, awaiting buyer payment.
11/7/2002 8:52:14 AM
Buyer initiates the transaction

 

[GeorgeKGeorgeK is verified member.]

Very nice, RealNames. I've had some go even faster.

Although, with sex.ec and casino.ec that I *tried* to buy via Afternic, it's been a horror story. After two months, I've given up, and am working to cancel the transaction, as the seller (Afternic itself!) won't do all that it has to do to complete the deal properly, grrrrr.

 

[tonyk2000]

Escrow.com is great!
One of my transactions was NINE HOURS from the very beginning to end:

8/28/2002 5:37:48 PM
Buyer accepts merchandise, transaction complete.
8/28/2002 5:37:12 PM
Buyer received merchandise. Inspection period starts.
8/28/2002 2:32:30 PM
Seller submitted transfer for
8/28/2002 12:57:39 PM
Escrow.com approves payment.
8/28/2002 12:52:42 PM
Payment received, seller will be prompted to ship after payment is secured.
8/28/2002 11:52:26 AM
Buyer paid by credit card, awaiting Escrow.com approval.
8/28/2002 11:09:59 AM
Both parties have accepted the offer, awaiting buyer payment.
8/28/2002 8:50:40 AM
Buyer initiates the transaction

 

[David G]

9-hrs Wow, had no idea it could go that fast

My transaction was delayed a little due to some mutual confusion on one of the steps involved and also I think the Sunday and Veterans Day Holiday may have delayed it some, but still we were very happy with the overall transaction.