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Flippa.com? - Escrow or Paypal

by birdie28a
18 replies
Hi,

I have a questions about flippa.com payments options for website sales. I read that if you sell a site for under $300 that you should use paypal, and anything over $300 you should use escrow.com

Can someone who knows a little about this tell me the correct payment options to use when selling a site on flippa.

Thanks,
Frankie
#escrow #flippacom #paypal
  • Profile picture of the author CDarklock
    Originally Posted by birdie28a View Post

    I read that if you sell a site for under $300 that you should use paypal, and anything over $300 you should use escrow.com
    You can replace $300 with whatever figure you like. Some people do $500. Some do $1,000. Really depends on what you're comfortable risking; escrow.com is like insurance for the purchase, so nobody gets ripped off.

    So you want to think about how much the fees for escrow.com are, and ask yourself whether you're comfortable risking the full purchase price at PayPal to save that much in fees. Just run numbers through until you come up with one where you say "that number's high enough that I'll pay the fee to protect it."
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    • Profile picture of the author birdie28a
      Originally Posted by CDarklock View Post

      You can replace $300 with whatever figure you like. Some people do $500. Some do $1,000. Really depends on what you're comfortable risking; escrow.com is like insurance for the purchase, so nobody gets ripped off.

      So you want to think about how much the fees for escrow.com are, and ask yourself whether you're comfortable risking the full purchase price at PayPal to save that much in fees. Just run numbers through until you come up with one where you say "that number's high enough that I'll pay the fee to protect it."
      Thanks for the insight I will do just that.
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  • Profile picture of the author Mike Grant
    On Flippa, never paypal. Always escrow. TONS of scammers on Flippa.
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  • Profile picture of the author w1908
    Indeed from what i know of Flippa, always use escrow. BTW a lot of buyers also always ask to do a payment trough escrow somehow...

    It also shows you are a bit more 'pro' overthere i guess...
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  • Profile picture of the author onlinebisnes
    its up to you.
    but fore sure, if you going to buy a site more than 500$ you might wanted a secure method for the transfer process, which why flippa integrate escrow in their system.
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  • Profile picture of the author ErnieB
    definitely escrow and you can determine who pays the escrow fees as well. Whether the buyer or seller pay or they can split the fees as well.
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  • Profile picture of the author AuroraIN
    Recently, I bought few websites in the range of $150 - $250 at flippa, paid PayPal, there was one noob seller too. so far so gud !
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  • Profile picture of the author Flipfilter
    Frankie,

    We've just posted an article on this, and cover the many things that go wrong and how you can help prevent them.

    The link to the post direct is the second one in our signature.

    Justin
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    Latest Post on FlipFilter.com "Buying and Selling Mobile App Businesses - An Interview with Eric Owens'"
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  • Profile picture of the author jhongren
    Hi Frankie,

    I would suggest for less than $300 site, you can use paypal and send a CD along with the files. I think what we are going to avoid here is chargeback or dispute.

    Sending a cd (a product) with its own tracking id will benefit the seller.

    My 2 cents,
    John
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    • Profile picture of the author RichMag
      Originally Posted by jhongren View Post

      Hi Frankie,

      I would suggest for less than $300 site, you can use paypal and send a CD along with the files. I think what we are going to avoid here is chargeback or dispute.

      Sending a cd (a product) with its own tracking id will benefit the seller.

      My 2 cents,
      John
      Thats actually a good idea John. I have sold sites for up to $1000 and used paypal. The buyer was well established though and I didnt have a problem. I think Im going to change to escrow though for anything over $350 bucks from here on out.

      Rich
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  • Profile picture of the author Davioli
    I just sold a 1.5k website on Flippa using the Escrow service.

    Sure Escrow took like $60 or so but it was well worth it.

    The buyer and seller are both safe. the fact that it looks at the whois details in case of a dispute is a very good safety feature.
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  • Profile picture of the author sbucciarel
    Banned
    I've done Paypal transactions on Flippa for up to $2,500 but I don't recommend it. I had a lot of communication with those buyers and just had a gut feeling that they were legit. Gut feelings can be wrong and you can be ripped off pretty easily on Flippa. Communicate with your buyers and if you are not comfortable, do escrow, but for all big sales, do escrow regardless.
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  • Profile picture of the author calfred
    Well, what's the big deal with not getting the site when you can click the Dispute button in PayPal as a buyer?

    PayPal always sides with the buyer...
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    • Profile picture of the author Toby.T
      Originally Posted by calfred View Post

      Well, what's the big deal with not getting the site when you can click the Dispute button in PayPal as a buyer?

      PayPal always sides with the buyer...
      It works that way if it is Ebay and a physical product, you can bet you will get your money back because you can just mail it back, when it is a digital product, Paypal could be unable to help you, as they can't determine if:

      The product delivered is not as described (traffic levels, profits, genuine content). They can't determine if the seller bent the truth or if the website attributes are accurate. You can't "return" a website as easily as a physical product.

      I have seen it happen to a few people before.
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  • Profile picture of the author GeorgR.
    With my last sale i had the pleasure to do the sale with a trusted member from warrior forum so we both could use paypal. (DARN YOU INSANE PAYPAL FEES!! Just as a side-note...)

    But otherwise there are so many scammers out there i wouldn't do anything else than escrow...especially not if's about amounts $1000+
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  • Profile picture of the author roblawrence
    How exactly does Escrow work? I have a website auction ending soon and not sure how to complete the payment/checkout process.

    https://flippa.com/2634225-mortgage-...unique-content

    Should I note in the comments section, that if the sale is over $1,000 then payment is by Escrow only and NOT paypal?
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  • Profile picture of the author TryBPO
    We always offer Escrow, but have never had to use it. We've used PayPal each time and haven't had a problem so far. <knocks on wood>

    I think it helps with trust to offer Escrow, but we haven't found it necessary. Our sites regularly go from $1,500 - $2,500
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