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Selling Website In Escrow For $3K What Next?!

by iWebProfits
15 replies
Guys I need a little help, possibly from someone who has experience selling websites through Escrow.com

So far I have sold the site on flippa, started an escrow, the buyer submitted payment, payment was approved.

So for the next step it says to transfer the domain name, but am I only transferring the domain name not the domain itself??

Also if I transfer the domain and the domain name to him, what kind of information do I need from him to make both of those transfers?

If I transfer both to him, whats to keep him from getting his money back from escrow yet keeping my site?

Thanks!
#$3k #escrow #selling #website
  • Profile picture of the author volcomgeyser
    Originally Posted by coopthadaawg View Post

    Guys I need a little help, possibly from someone who has experience selling websites through Escrow.com

    So far I have sold the site on flippa, started an escrow, the buyer submitted payment, payment was approved.

    So for the next step it says to transfer the domain name, but am I only transferring the domain name not the domain itself??
    What does that mean? You mean you are transferring the domain name and not the content?

    Originally Posted by coopthadaawg View Post

    Also if I transfer the domain and the domain name to him, what kind of information do I need from him to make both of those transfers?
    Assuming you are referring to hosting, you need to either dump all the contents of the webserver into a zip file or use your hosting company's tools to do so and send it to him. For the domain name, if you are both on the same registrar, they allow you to "push" them across accounts. if not, the guy needs to purchase a transfer from his registrar and begin the fun process of transferring it. make sure you can receive email thats in your domain's whois information

    Originally Posted by coopthadaawg View Post

    If I transfer both to him, whats to keep him from getting his money back from escrow yet keeping my site?
    Thats what escrow is for. He will have complete control over your domain name and/or hosting and the escrow company will have complete control over the money. I would definitely talk to escrow.com and ask what the best practices are to avoid that. From his perspective he could be thinking the same thing: What happens if I fund this escrow and he just keeps the site and tells escrow.com he sent it?

    Thanks!
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  • Profile picture of the author Rob Thayer
    Originally Posted by coopthadaawg View Post

    If I transfer both to him, whats to keep him from getting his money back from escrow yet keeping my site?

    Thanks!
    Can't happen. The escrow company will not refund his money just on his word that he never got it. They will also check WHOIS records to see if the transfer has been completed. This is escrow, not PayPal... they won't immediately side with the buyer and screw the seller over. Escrow is set up to protect both parties, not just the buyer.
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  • Profile picture of the author J23
    Well the domain and the domain name are the same thing, so I assume you meant the domain and all the content with the database.

    Once Escrow has secured the payment from the buyer, you want to transfer everything over to the buyer and then let Escrow know that it's been done. Now the buyer will have to confirm that everything has been transferred over, and once that's done, Escrow releases the money to you.

    Like Rob said, they won't just side with him even if he claims he never got it. You can prove that you sent him everything and they also check the WHOIS info to verify that the domain has really been transferred.
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    • Profile picture of the author iWebProfits
      Thanks a lot guys appreciate it

      Brian
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  • Profile picture of the author Kezz
    Not sure if you've already moved on with this transaction but here's what I do to make sure I don't get scammed.

    It's best to clear this with the buyer before you go ahead.

    Once the escrow payment is approved transfer ownership of the domain name.

    Wait until the transfer is complete, and then have the buyer release payment from Escrow.

    Only once payment is complete do you hand over the actual site files themselves.

    This protects both parties:

    The seller is protected because if the buyer doesn't intend to release payment they can do nothing without the site files.

    The buyer is protected because if the seller never releases the site files, they are useless without the domain and it's associated rankings.

    This has worked great for me as both parties are holding onto part of the site until the deal finalizes, and no honest buyer with good intentions turns it down.
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    • Profile picture of the author GeorgR.
      Originally Posted by Kezz View Post

      Once the escrow payment is approved transfer ownership of the domain name.

      Wait until the transfer is complete, and then have the buyer release payment from Escrow.
      I just sold a domain via Escrow (or at least it's almost finished)..but a thing is still not clear to me.

      1) Escrow secured their payment
      2) Domain transfer was initiated respective is on the way and is already pushed.

      HOWEVER the domain transfer was initiated before the Escrow payment was actually released to me by the buyer. (Which obviously is the normal thing to do it)

      How do you make sure that the buyer now won't claim they didn't get the domain or similar...but my domain is already transferred. (What if they simply won't confirm having gotten the domain?)

      What stops them (buyer) to make whatever claim so payment will never released to me and obviously I would also not be able to get the domain back (since Escrow does in no way control the domain transfer). If I were dealing with a scammer, they now own the domain...but payment is only released once THEY confirm they got the domain, correct?

      Am I missing something?
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      • Profile picture of the author Pdomain
        Banned
        Originally Posted by GeorgR. View Post

        I just sold a domain via Escrow (or at least it's almost finished)..but a thing is still not clear to me.

        1) Escrow secured their payment
        2) Domain transfer was initiated respective is on the way and is already pushed.

        HOWEVER the domain transfer was initiated before the Escrow payment was actually released to me by the buyer. (Which obviously is the normal thing to do it)

        How do you make sure that the buyer now won't claim they didn't get the domain or similar...but my domain is already transferred. (What if they simply won't confirm having gotten the domain?)

        What stops them (buyer) to make whatever claim so payment will never released to me and obviously I would also not be able to get the domain back (since Escrow does in no way control the domain transfer). If I were dealing with a scammer, they now own the domain...but payment is only released once THEY confirm they got the domain, correct?

        Am I missing something?
        You don't have to transfer the domain to buyer, you have to transfer it to Escrow.com - that is good.
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        • Profile picture of the author salegurus
          Originally Posted by Pdomain View Post

          You don't have to transfer the domain to buyer, you have to transfer it to Escrow.com - that is good.
          It's been 4 years bright spark, i'm sure the OP is sorted by now...
          Or did you only answer to get some attention to your Sig?
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          • Profile picture of the author Mfry
            Hello,

            My name is Mauli Fry from Escrow.com. If there is anything I can help with, please do not hesitate to contact me. I am more than happy to answer any questions or concerns you may have, and all feedback is appreciated.

            Thank you,
            Mauli
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  • Profile picture of the author cpadualcore
    Its a sad fact that Paypal wont work in favour of sellers when flipping websites and domains. Anyway If I were dealing with Paypal, here's what I do. I will type in details of domain name and website on a doc file, print it out and mail it to the buyer through courier. Only after the buyer confirms that he got the package, I'll transfer the domains or website files. So even if they claimed for a dispute, I have the courier tracking ID to show PP as proof of delivery..

    This involves some extra charges for sending courier and all. But in most cases, it is much lesser than using an Escrow service..
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    • Profile picture of the author mj9999
      For overall piece of mind Escrow is the way to go. However, echeck payments through Paypal seem like a very solid way to get paid also. A paypal rep told me that, once an echeck clears, it is a done deal.

      I wonder if it might be possible to insist on echeck payments for website sales.
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  • Profile picture of the author TimG
    Is the general recommendation that if you sell a site for several thousand dollars then escrow.com is the way to go?

    Is there a cutoff amount that anyone who is an experienced flipper looks for when it comes to deciding on whether to use Paypal or Escrow.com?

    Thanks,
    Tim
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    • Profile picture of the author Rob Thayer
      Originally Posted by TimG View Post

      Is the general recommendation that if you sell a site for several thousand dollars then escrow.com is the way to go?

      Is there a cutoff amount that anyone who is an experienced flipper looks for when it comes to deciding on whetehr to use Paypal or Escrow.com?

      Thanks,
      Tim
      If you're selling the domain through Sedo, they offer an escrow service for free. If you're selling elsewhere (without free escrow), use Escrow.com if it's an amount you'd be uncomfortable losing. Split the escrow fees with the buyer.
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      • Profile picture of the author TimG
        Originally Posted by Rob Thayer View Post

        If you're selling the domain through Sedo, they offer an escrow service for free. If you're selling elsewhere (without free escrow), use Escrow.com if it's an amount you'd be uncomfortable losing. Split the escrow fees with the buyer.

        Great - thanks for the info. I have a poker related website I plan to sell that makes about $200 a month on autopilot. My intent is to try and get anywhere from $2200 - $3000 for it which is why I was asking.

        Tim
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    • Profile picture of the author J23
      Originally Posted by TimG View Post

      Is the general recommendation that if you sell a site for several thousand dollars then escrow.com is the way to go?

      Is there a cutoff amount that anyone who is an experienced flipper looks for when it comes to deciding on whether to use Paypal or Escrow.com?

      Thanks,
      Tim
      For me, I always make the decision based on how trustworthy the buyer seems. If they have good feedback from lots of other members, and I've talked to them 1 on 1 and they seem legit, then I will be more lenient on accepting Paypal or Escrow.

      Not that our intuitions are always 100% right, but I think as humans we can get a feel for when something doesn't seem right and when we need to be more cautious moving forward with a deal. If at any point I get that feeling, I'll be sure to take all precautions such as using Escrow for the transfer.

      And in the event that I do use Paypal, what I do is have the buyer send me half up front, then I transfer the domain, then he sends me the other half, and then I transfer all the files. I think this way is safer for both parties.

      I also make sure to transfer all of the money out of my Paypal account right away so that in case of a dispute, they won't get anything even if they win it.

      That's just how I do it, if you're looking for an actual dollar amount though of when you should not use Paypal and use Escrow instead, I'd say anything over 1k is a good number.
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