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- Thread starter RobM
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I can't believe anyone here is using a third party Escrow service to sell a domain - never in 20 years has an end user explicitly asked me to use Escrow or refused to buy a domain unless I use Escrow and that's up to 25k.
If your customer asks for Escrow there must be something suspicious about your setup, that's all that I can imagine, you might be be legit, but there is something somewhere that rings alarms bells, of course if your using SEDO then you will be forced into Escrow.
If your customer asks for Escrow there must be something suspicious about your setup, that's all that I can imagine, you might be be legit, but there is something somewhere that rings alarms bells, of course if your using SEDO then you will be forced into Escrow.
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This is such a risky way to do business that's not necessary. Would you give a stranger 25k after they said they would return shortly with your goods? When you buy a house do you give the owner all the money on the understanding they will give you the house after they've banked your cash?
I have used escrow for a quarter million purchase and two 50k sales. Why would I not? It's quite normal when dealing with large sales for a buyer to ask for escrow and if I am the buyer and I don't know the person I would as well (my expense of course). I'm surprised at your post suggesting that if a buyer/seller asks for some security on a 25k purchase you consider that 'suspicious'. There's people on this forum who have ripped off a tiny amount from people and ruined their reputation.... and you suggest trusting them with 25k?
Last edited:
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To be fair the buyer was an acquaintance so I was not a complete stranger for 25k. Ok so for anything in ££££ range Escrow might be more comfortable I get that, but for smaller transactions I can't see any need for Escrow. If your getting asked for Escrow for a domain around a few hundred pounds then for some reason the buyer must have a credibility issue with the seller or they would be prepared to settle on receipt of an invoice. When I buy something from eBay from someone I don't know I only have their profile to go on before I commit, but I'm still going to pull the trigger if it looks credible.
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Yeah understood. And there are many people here that I know, have done business with, and would trust with a lot of money. However if a buyer asks for escrow (and pays) I don't see any problem whatever the amount. I certainly don't think it's suspicious. Likewise if I ask for escrow (and cover the fee) I'd be surprised if the seller got upset. In fact if they did I would *then* assume they're suspicious lol. Escrow is cheap - it is not normally a long process. As long as whoever requests escrow covers all fees I don't see a problem. And remember, a few hundred pounds might not be a lot to you but it could be to the other party.
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Fair enough. I don't see why though. If you're getting your £250 in 3 days instead of 1 what's the big deal? Just being devil's advocate here. And really all your post says is that *you* don't think £250 is a big deal - to some buyers it might represent a big chunk of their money they don't want to risk on a stranger.
*edit to your edit
Yes I agree I personally wouldn't as a buyer. But how many sellers refuse to take your money before a sale and insist you use escrow? 'No you will *not* put your money straight in my bank account - I insist you pay a third party...' Remember the risk is always with the buyer. Either the buyer asks for escrow or is prepared to risk giving the money first.
*edit to your edit
Yes I agree I personally wouldn't as a buyer. But how many sellers refuse to take your money before a sale and insist you use escrow? 'No you will *not* put your money straight in my bank account - I insist you pay a third party...' Remember the risk is always with the buyer. Either the buyer asks for escrow or is prepared to risk giving the money first.
Last edited:
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Yeah I just don't see the logic in turning down sales if the other person wants to use escrow at their expense. I don't see what the problem is. But everyone's different I suppose - money's all money to me no matter how it gets into my bank. If it's the price I want then I don't care what they paid to give it to me.
