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Using escrow or not on flippa?

by imfusa
12 replies
Let's say i managed to sell a website on flippa for 5k and i would like to know what would you recommend? I would like to say the the buyer has 50+ itraders. Use escrow and pay all those fees or send the domain + website first, before payment and after send the invoice with a memo like this (Payment owed for website "flipa link")
On terms and conditions: No refunds/cancellations accepted. Reason: Website had been transferred before payment? What do you say, also, will this protect me against chargebacks?
#escrow #flippa
  • Profile picture of the author sbucciarel
    Banned
    You'd be foolish not to use Escrow for that amount of money. I don't care how many itraders he/she has. There's no such thing as an itrader on Flippa. Escrow protects both you and the buyer.
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  • Profile picture of the author craigslistleedz
    Originally Posted by imfusa View Post

    Let's say i managed to sell a website on flippa for 5k and i would like to know what would you recommend? I would like to say the the buyer has 50+ itraders. Use escrow and pay all those fees or send the domain + website first, before payment and after send the invoice with a memo like this (Payment owed for website "flipa link")
    On terms and conditions: No refunds/cancellations accepted. Reason: Website had been transferred before payment? What do you say, also, will this protect me against chargebacks?
    Yeah, I'd say anything over $750 should be escrow.com territory. Unless you know the buyer or are pretty comfortable with them in the transaction its best to take temptation out of the way and use Escrow.com
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  • Profile picture of the author Mike Wheatley
    There comes a point when Escrow is essential to not be ripped off!
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  • Profile picture of the author elexmedia
    Yes... you MUST use Escrow, especially if the website is worth $5,000.

    For sales as much as $5,000, the escrow fee will not hurt you.

    You could do the transaction without Escrow if the site is just worth $100-$500. But if the site is worth above $1,000, use a escrow is a must.
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  • Profile picture of the author OLechat
    Adding my voice to the chorus of recommendations for Escrow -- it's the best way for both parties to protect themselves. We negotiated a 20% discount on Escrow fees for our users; just click on Initiate Escrow in the sales completion area of your listing to get the discount.
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  • Profile picture of the author BloggingPro
    Originally Posted by imfusa View Post

    On terms and conditions: No refunds/cancellations accepted. Reason: Website had been transferred before payment? What do you say, also, will this protect me against chargebacks?
    The question is how are you going to prove to PayPal or more importantly a credit card company that the buyer actually received the site files?

    Better yet, say I'm your buyer, and I use an American Express card. I could even tie it to PayPal for said purchase. You know whats going to happen if I buy your site for $5k and then file a chargeback? Not only will I get your site files, domain, etc... but AMEX will simply rule in my favor like they do with every other chargeback they handle.

    How do I know that? I worked for an online retailer one time and every time the dreaded AMEX chargeback came in the customer would essentially get the product for free. And these were physical products. I can't even imagine how a "digital" product would fare in their systems.
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  • Profile picture of the author KickinConcepts
    Get it through escrow, spend some money and save yourself from some potentially huge headaches.

    Don't trust anyone when selling your site.

    If you get a chargeback chances are that it is not going to be ruled in your favor.
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  • Profile picture of the author Aswad
    Definitely escrow. Protect yourself. I don't take huge risk with that amount of money.
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  • Profile picture of the author ReplenishSEO
    Use escrow, the risk simply isnt worth it for the reward.

    Always use protection.
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    • Profile picture of the author Hamida Harland
      Most of my big sales on Flippa (over $5000) were to relatively new buyers so you can't really judge them by how much feedback they have. Isn't itrader a DP thing anyway?

      I always use Escrow.com and have never had a problem. I don't know about no refunds/cancellations though - I did have one buyer pull out of a sale at the last minute (after the Escrow process had been intiated). The site dropped in rank the very week we were doing the inspection period so the sales didn't match what I had advertised. You can make sure the domain is transferred back to you though before Escrow send the buyer's money back. Luckily that buyer was a genuine one and I never found any copies of my site online after that.
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  • Profile picture of the author marketingdynasty
    Escrow is a payment feature that you should take advantage of when available to protect your transaction with the buyer.
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  • Profile picture of the author williamk
    Banned
    Definately use Escrow on flippa. If you get scammed sometimes, atleast your money is safe. You will find lots of guys who are ruining the reputation there.
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