Help with Escrow.com on Flippa Sale...

[dou9las]

My flippa auction ended unsuccessfully and went to private sale. But, a person who did bid on it also PM'd me several times to discuss buying with a purchase agreement, presumably to avoid fraud on her part.

I actually thought it was a bit sketchy, because the example aggreement she sent me for review had an "indemnity" clause that essentially said I would hold her harmless if she violated terms of the sale. To that I politely said no, and if she wanted to revise, to contact me. I didn't think I would hear back...

Now, she had come back a week later, making me a decent offer (by PM which is off limits at Flippa) and stating that she is ready to go, but now is also saying she wants to use escrow.com. I told her fine, but to make the offer through Flippa as to comply with their terms.

I figure this is theoretically fine, because escrow.com is a reputable service that is commonly used with Flippa auctions - BUT, I am not sure how to integrate that into my auction listing and the purchase process at flippa.

MORE IMPORTANTLY - I have read that even with escrow.com, there is room for fraud to occur, and I can't afford to mess with this if I am being set up for fraud.

Not sure how to navigate this. A little help would be appreciated.
-Doug

[alliance]

I've been successful with escrow.com. Their service is worth the cost and I usually share the cost of the service with the buyer. Proceed to escrow.com after coming to terms of agreement with buyer. Escrow will collect funds from buyer and notify you to transfer website after escrow has received funds from buyer. Escrow.com will release funds to seller after transfer of asset (website).

[TeamGlobal]

Hi Doug,

I've used Escrow.com for years without a glitch.

Just make sure that you lay out the terms and conditions of your sale clearly.

You can also call Escrow.com and tell them what you wish to accomplish. I have always found them to be very helpful.

Good luck with the sale of your site!

All The Very Best,


Tony

[dou9las]

TeamGlobal and Alliance:

Thanks for that, it makes me feel a lot more comfortable.

Since posting this thread I did create an account on escrow.com and called them for more info, and they were as you said very helpful.

Also, the buyer is continuing to communicate promptly as we get the purchase agreement done, followup questions on confirmation of earnings, etc. and my comfort level is definitely improving.

Your input is very appreciated.

All The Best,

-Doug

[Philarmon]

And i think you can not add Escrow as an accepted payment to your auction anymore once it was created (at least i had this problem once when i bought a website from someone) but then the seller contacted the Flippa support and they added it manually

[dou9las]

Originally Posted by Philarmon

And i think you can not add Escrow as an accepted payment to your auction anymore once it was created (at least i had this problem once when i bought a website from someone) but then the seller contacted the Flippa support and they added it manually

It actually allowed me to add it after the fact, but I am pretty sure that's because the actual auction had ended unsuccessfully so this was the private listing with no pending offers (flippa gives you a free "private listing" if your auction doesn't sell...) So, I added escrow.com, and then she made her offer at that point.

Had this been a live auction with any bids on it, I bet they would not let you revise the payment options because I know they don't let you make certain other changes when bids have been made.

It's good to know their support team will accommodate you if the situation arises though, thanks for the heads up.

[dou9las]

Guys,
Besides wanting me to sign an 8 page contract, now this person is asking me for a photocopy of my California drivers license to confirm my identity and ownership. If not, she wants a notary public to confirm it and notarize the contract, however that will entail attaching a photocopy of it also.

With identity theft being as rampant as it is, I felt this request was really odd and a bit over the top.

Can anyone give me a sanity check on this?