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Escrow.com Question
- Thread starter toria
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The speed of a transaction really depends on the swiftness of communication and willingness of the two parties to complete a sale. Escrow.com has an established process in place for domains for many years now. If your ultimate concern is security, you can use Moniker.com as it's the only escrow service that also functions as the holding & inspecting registrar.
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Moniker has a nasty flaw though ... if a buyer funds the escrow with say PayPal or credit card and then it later comes back stolen, Moniker will attempt to take the domain name back, which defeats the whole purpose of escrow.
Escrow.com, and I believe Sedo, will assume the risk of loss to protect the seller in the transaction, which is what escrow is supposed to do; protect both buyer and seller...
It's the escrow company's responsibility to be sure the funds are "secured" funds (or assume the risk, which escrow.com does).
Another plus of using escrow.com or Sedo is they are not registrars - they can't take the domain(s) back once the transaction is complete. Moniker can and has publicly stated so much right here on this forum!
So in light of that, the safest escrow (as in they hold both the funds and the domain) are Sedo and Afternic.
Ron
p.s. another poster mentioned 2 week wait - there's no virtually no delay when funding escrow with bank wire, which is non-revocable.
Escrow.com, and I believe Sedo, will assume the risk of loss to protect the seller in the transaction, which is what escrow is supposed to do; protect both buyer and seller...
It's the escrow company's responsibility to be sure the funds are "secured" funds (or assume the risk, which escrow.com does).
Another plus of using escrow.com or Sedo is they are not registrars - they can't take the domain(s) back once the transaction is complete. Moniker can and has publicly stated so much right here on this forum!
So in light of that, the safest escrow (as in they hold both the funds and the domain) are Sedo and Afternic.
Ron
p.s. another poster mentioned 2 week wait - there's no virtually no delay when funding escrow with bank wire, which is non-revocable.
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I sold more than a few domains through Moniker, you have to transfer the domain over to them, where the waiting time for payment is nearly 2 months. This is beneficial to the buyer knowing they will get the domain, Not so convenient for the seller having to wait that long and not knowing the current status of the transaction.
BTW, That 4 day transaction at Escrow, buyer paid by credit card, where they must FAX in a form with ID.
BTW, That 4 day transaction at Escrow, buyer paid by credit card, where they must FAX in a form with ID.
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