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Flippa/Escrow Question

by Liam Hamer
7 replies
I sold a site on Flippa yesterday, and the buyer is going to pay via Escrow. I have an Escrow account but you get a 20% discount on the fee if you start the process inside your Flippa account. So I go to Sale Completion Area>Start Escrow and instead of taking me through the steps to start the transaction process, it takes me to the sign up form. I went back and logged in to Escrow, and tried again but the same thing happened :confused:

This is my first Flippa sale so maybe I'm missing something If anyone can point me in the right direction, that would be great If I can save 20% on the fee by doing it through Flippa first, I really want to take advantage of that :p
#flippa or escrow #question
  • Profile picture of the author Thomas Smale
    Originally Posted by Liam Hamer View Post

    I sold a site on Flippa yesterday, and the buyer is going to pay via Escrow. I have an Escrow account but you get a 20% discount on the fee if you start the process inside your Flippa account. So I go to Sale Completion Area>Start Escrow and instead of taking me through the steps to start the transaction process, it takes me to the sign up form. I went back and logged in to Escrow, and tried again but the same thing happened :confused:

    This is my first Flippa sale so maybe I'm missing something If anyone can point me in the right direction, that would be great If I can save 20% on the fee by doing it through Flippa first, I really want to take advantage of that :p
    Is the email on your Flippa account different from the email on your Escrow account?

    Unless the sale was quite large, then saving 20% on Escrow fees (especially if you split the fees) really isn't that much. My emails for Flippa and Escrow are different, so I just run it outside of Flippa.
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    • Profile picture of the author Liam Hamer
      Originally Posted by Thomas Smale View Post

      Is the email on your Flippa account different from the email on your Escrow account?

      Unless the sale was quite large, then saving 20% on Escrow fees (especially if you split the fees) really isn't that much. My emails for Flippa and Escrow are different, so I just run it outside of Flippa.
      Yes, they are different - so that's why? OK, will probably just do it in Escrow then - many thanks
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      • Profile picture of the author wwwBaron
        What Flippa does not state publicly is that the 20% is only achievable if you set up a new escrow.com account directly from their link. In other words, if you try to use your existing Escrow account, you don't get the 20% off.

        When I inquired about this months ago, Flippa replied that it only works for new account signups and that they have no intention of changing that.

        I told them my dim opinion of this policy and they digitally shrugged their shoulders.
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        • Profile picture of the author AndrewAU
          Originally Posted by wwwBaron View Post

          the 20% is only achievable if you set up a new escrow.com account directly from their link
          There seems to be a misunderstanding here. The 20% is provided whenever the escrow is initiated from the sale completion area on Flippa - regardless of whether or not it is a new escrow account (ie existing Escrow.com users will still get the discount).

          As outlined further up the thread, we do rely on your Flippa account and Escrow.com account having the same email address for the link-through to work but outside of that, the discount is not restricted ...
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          • Profile picture of the author wwwBaron
            Andrew,

            That sounds great, but when I followed the link from Flippa's sale completion area, the resulting screen at escrow.com did not offer the option to log in with an existing account. It offered only a new account setup and nothing else. That was what I inquired about with Flippa's customer service and then got the reply confirming that this was how it worked.

            I lost out on the 20% reduction on two separate Flippa sales. That lost discount was a little bit of folding money, but it wasn't worth the hassle of setting up additional escrow.com accounts each time.

            Don't know if Flippa has changed this since my experience, though.
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    • Profile picture of the author K Meier
      Originally Posted by Thomas Smale View Post

      Is the email on your Flippa account different from the email on your Escrow account?

      Unless the sale was quite large, then saving 20% on Escrow fees (especially if you split the fees) really isn't that much. My emails for Flippa and Escrow are different, so I just run it outside of Flippa.
      Impressive, any chance you can link to your account?
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  • Profile picture of the author Trusted Friend
    Liam,

    Since you are in the EU, why don't you consider using Transpact.com.

    Its GBP escrow service is charged at only £2.99, or for Euro transactions €3.49.
    If you are transacting in USD, its $24.99 fee includes international wire transfer fees, so for a standard transaction there are no further charges (unlike other escrow services).

    Transpact.com offers an international service to clients around the world. All you need is a bank account in one of its listed countries.
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