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is escrow safe for domain trading?
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is escrow safe for domain trading?

I want to sell a domain name, some guy advised me the escrow, but don't have the experience with them before, any guy have succeed trading domain on escrow?
Should I send the code to the buyer directly or the escrow?
if the buyer pay by paypal and dispute after domain transferred, will I get the money?

Comments

  • "It depends", find out from the escrow you're using.

  • hostdarehostdare Member, Patron Provider

    escrow site is quite safe, first he will need to wire money and cannot be disputed usually

  • WHTWHT Member
    1. you have to wait until you get an email from escrow that the money are in you wallet.

    2. when you generete the auth code record your screen including the email you send to the buyer.

  • @WHT said:
    1. you have to wait until you get an email from escrow that the money are in you wallet.

    1. when you generete the auth code record your screen including the email you send to the buyer.

    usually how long it takes to receive the money after send the auth code?
    and how much fee it will take for withdraw?
    I'm new with escrow, and found a limit
    PAY AS A BUYER:$5000.00
    RECEIVE AS A SELLER:$20000.00
    does that mean I can't sell a domain price over $20000.00 ? or I can get the money in two times if the price is over $28000?

  • WHTWHT Member

    @Nickman said:

    @WHT said:
    1. you have to wait until you get an email from escrow that the money are in you wallet.

    1. when you generete the auth code record your screen including the email you send to the buyer.

    usually how long it takes to receive the money after send the auth code?
    and how much fee it will take for withdraw?
    I'm new with escrow, and found a limit
    PAY AS A BUYER:$5000.00
    RECEIVE AS A SELLER:$20000.00
    does that mean I can't sell a domain price over $20000.00 ? or I can get the money in two times if the price is over $28000?

    Yes you can sell even $100. here are the fees https://www.escrow.com/fee-calculator

    Once the money was in my wallet within 48h and once within 5 days.

    Thanked by 1Aidan
  • @WHT said:

    @Nickman said:

    @WHT said:
    1. you have to wait until you get an email from escrow that the money are in you wallet.

    1. when you generete the auth code record your screen including the email you send to the buyer.

    usually how long it takes to receive the money after send the auth code?
    and how much fee it will take for withdraw?
    I'm new with escrow, and found a limit
    PAY AS A BUYER:$5000.00
    RECEIVE AS A SELLER:$20000.00
    does that mean I can't sell a domain price over $20000.00 ? or I can get the money in two times if the price is over $28000?

    Yes you can sell even $100. here are the fees https://www.escrow.com/fee-calculator

    Once the money was in my wallet within 48h and once within 5 days.

    I'm it show a limitation Based on your recent transactions, you can only pay/receive as much for either Credit Card and PayPal payments:
    PAY AS A BUYER:$5000.00 RECEIVE AS A SELLER: $20000, while if I want to sell the domain at $30000, and the buyer also new in escrow, can he only pay $5000 for the trade or he can pay 6 times of $5000? and I can withdraw it two times, $20000 and $10000?

  • hostdarehostdare Member, Patron Provider

    yes I did that in part transactions before . But you must mention terms properly for each transactions

  • Use Payoneer escrow or escrow.com as as mentioned by others,. Or list it on any of these undeveloped.com/sedo.com etc, you'll have to pay commissions though. 9%-20%.

    Safest is probably Bitcoins if buyer can pay.

  • @TheKiller said:
    Use Payoneer escrow or escrow.com as as mentioned by others,. Or list it on any of these undeveloped.com/sedo.com etc, you'll have to pay commissions though. 9%-20%.

    Safest is probably Bitcoins if buyer can pay.

    9-20% is escrow charge so much ? I checked seems only 2-3%

  • NeoonNeoon Community Contributor, Veteran

    Tons of fees, better use a crypto currency.

  • hostdarehostdare Member, Patron Provider
    edited January 2018

    Neoon said: Tons of fees, better use a crypto currency.

    buyer will also need some kind of satisfaction . None is going to pay 30k crypto without security . Going through 3rd party is the best bet

  • TheKillerTheKiller Member
    edited January 2018

    @Nickman said:
    9-20% is escrow charge so much ? I checked seems only 2-3%

    For payments up to $5,000 there is 1.5% fees for Payoneer escrow. That 9-20% is for marketplaces. You should've no issues with Payoneer escrow or Escrow.com

    Better and safest options is if you use Domain Concierge Service of escrow.com, you'll pay $100 extra which includes domain transfer handling. https://www.escrow.com/domains/domain-concierge

    Edit: Escrow.com do ID verification from both parties so there are less chances of any fraud etc.

  • Never ever use an escrow service that the buyer recommends you to use, without extensive research.

    There is a type of fraud, where a buyer contacts you to purchase your domain, but they say you need to use a domain appraisal or escrow service, and they direct you to a specific escrow service. That service is actually operated by the buyer, and you need to pay to open an account or get your domain reviewed. When you make that payment, they take your money and disappear.

    Make sure you use well-known escrow services, like the ones recommended here. Don't use the one that your buyer tries to force you to use.

    Thanked by 1hostdare
  • Steps to take.

    1. Wait for comments on the steps below from others on LET to make sure I did not miss anything.
    2. Find a reliable escrow service.
    3. You and the seller make an account in the escrow service.
    4. Write a contract for the sale of the domain, stating that money must be in escrow prior to transfer being initiated. In the contact, include your specific account information (number, email, etc.) that the transfer must be initiated with.
    5. You and buyer sign the contract.
    6. Buyer puts money in escrow account.
    7. You confirm money in escrow account.
    8. You initiate domain transfer and provide all relevant information to buyer.
    9. Buyer releases escrow.
    10. Go home happy.

    I hope this helps you understand escrow.

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