Is ESCROW 100% safe or can a Scammer still manage to get away with fraud - opinions

[dnforumdude]

Hello I would like to know if Escrow services are 100% safe.
There's a potential buyer who's perhaps interested in buying some of my domains.

The thing is that based on the correspondence, without going into detail, there's signs which prompt me to have some suspicion. One of the reasons being OVER- friendliness.

The "re-assuring" part is, the potential buyer is willing to use an Escrow service if we agree on a price and so-on.


Therefore I want to know, Even if he sounds shady, as long as we use an Escrow service to finalize the transaction am I 100% safe?


Please if anyone can provide some help.

Thank you,

Dnforumdude

 

[stuff]

nothing is %100 safe

 

[dnforumdude]

Usually if i'm not mistaken, Escrow takes the money of the buyer. Then sends a notice asking the buyer to confirm that he has receieved the domains. When he confirms, the money is released to me. What happens if the buyer receives the domains, then sends the domains to a registrar or someone with all kinds of protective proxy layers and nobody can know who the person really is or where the domain is. Then the "buyer" says he never received the domains?

 

[TooManyDomains]

If the buyer says that they investigate.

 

[dnforumdude]

Thanks for all the responses guys, really helpful

 

[Provider]

if you send money to somebody but you don't het domain, in that case you lost money


if you send domain name to somebody and got the money, but the payment bounced
back, you still can get your domain name back. People usualy not scammed this way.
Domain name is something that you can't actually hide somewhere. If you act fast you
will get your name back


I wouldnt worry if I were you.

 

[dolansco]

99% good as a seller ... you know your money is there .

But as a buyer .... if you have not done due diligence etc , you may do the transaction fine , but end up with a stolen domain or similar.

Escrow is really only a mechanism to act as a trusted intermediary for the "Swap" or "Exchange" , and no more.

 

[Deleted member 11876]

What do you think is going to happen if the escrow goes bankrupt?

stuff is right. Nothing is %100 safe... but you have to draw a line...

 

[gemsergio]

Well you need to use escrow.com if you are a buyer and Moniker escrow if you are a seller.
I would never sell one of my domain through escrow.com.

 

[Theo]

Used Escrow.com in dozens of transactions. No problem whatsoever.

 

[redomainer]

I've used Escrow.com for years for multiple transactions for thousands of dollars apiece.

I would recommend you ask the other party to pay the fees even if you agree to sell the domain for slightly less (if you are the seller) or pay slightly more (if you're the buyer) for the following reason. Once both parties agree to the transaction, if one of the parties does not fulfill the transaction, Escrow.com still charges whomever was responsible for the fees to begin with.

All my transactions with them have been awesome. I did have a little glitch when I purchased a name from a gentleman and his registrar had sold out/merged. In the process of "migrating" his domains to the new registrar something got lost in the shuffle and I was unable to access the domain he pushed to me. The transaction went past the agreed upon inspection period of two or three days and because of that, and the fact the seller said he pushed the name (and had, but I was unable to access it because of the migration), Escrow.com said they were going to release my $ to the seller.

I sent them an e-mail that stating they'd better not release my $ until I have control of the name. The seller was cool and also sent an e-mail to Escrow.com letting them know his registrar had issues and not to release my $ to him (I've been a repeat buyer of his domains).

It all worked out and I strongly recommend them but do recommend you negotiate having the other party pay the fees.

Bill

 

[jdk]

I am about to use them for the first time b/c I am not 100% sure about the seller. From what I have read if I send the funds and the seller doesn't complete his end, I am still stuck with paypal the Escrow fee?

Can anyone confirm this?

For example, if I am sending say $100 and the fee is $25 would it be better for me to put seller pays fees and pay $125 so they would get $100 or Buyer (me) pays fees and pay $125 and they still get $100?

I think if I choose seller pays fees I will not get stuck with the fee if they choose not to push the domain.

 

[redomainer]

Read my post above to see if it helps.

Bill

 

[jdk]

Oh thanks. You must have posted right before me and I didnt see your reply.

 

[MonteMonte is verified member.]

Escrow.com does not take the domain into escrow, only Moniker does. Moniker also has physically signed agreements by both buyer and seller for legal diligence and has custom payment plans for any type of transaction - lease, lease to purchase, payment plan purchases, outright sale, right to use, etc. This is safest and best for both buyer and seller and the only true domain escrow service. We invented the domain escrow transaction back in 1996 and have performed more escrow transactions for domains than any other company. There is an entire escrow system and information linked from the moniker.com home page.

 

[Dr Nump]

You can use sedo escrow services too , they will both take the money and the domain so there are almost no way for frauder. But their fees is nightmare.
Dunno how about moniker escrow services fees ?

 

[filter]

a post in a thread on another board indicates Moniker fees are less than the Sedo 10% and makes the additional suggestion that seller will be safer if buyer transfers funds to Moniker via bank wire rather than credit card - to avoid possible complications specific to credit card payments (charge backs, fraud etc)

 

[jdk]

Maybe for larger amounts, but not for anything under $500. Moniker's fee is more

http://www.moniker.com/aftermarket/domain-escrow.jsp

 

[DomainingCom]

I think that Moniker escrow is the BEST solution for:
- Complex transactions
- Big sales

And Escrow.com is good for "everyday" sales.

The reason is because with Moniker Escrow service:

1) You have to sign and fax an agrement and a lot of people DON'T HAVE fax.
2) You cannot push the domain into your registrant acount to acelerate the transaction.

But when you have no urgency and are looking for the SAFEST domain escrow, look at Moniker!

 

[Mr. Pim]

a post in a thread on another board indicates Moniker fees are less than the Sedo 10% and makes the additional suggestion that seller will be safer if buyer transfers funds to Moniker via bank wire rather than credit card - to avoid possible complications specific to credit card payments (charge backs, fraud etc)

sedo's escrow service is 'only' 3 %.