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First time Escrow.com

by ashishthakkar
10 replies
Using escrow for the first time.

Is there something i should be careful about ?

Using it because am selling a website to a new buyer (someone who has no feedback/review/ratings).


Thanks,
Ashish Thakkar
#escrowcom #time
  • Profile picture of the author MatthewWoodward
    Escrow is the best way to go about selling/buying websites.

    You have less to worry about when doing it with Paypal anyway that will not offer you protection on digital goods where as Escrow act as a middle man and only release the funds to the seller when the buyer confirms they have recieved everything as described.
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  • Profile picture of the author KG83
    If you are selling a domain name, the transaction will be easy an worry free through Escrow.com. If it is has web content, it isn't as easy for Escrow.com to track so make sure you keep records of how the content was delivered (save emails, take screen shots etc.). That will help them move the transaction along faster.

    Either way you definitely want to use Escrow.com, it s the safest way to sell a domain/website to someone you don't know or don't completely trust.
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    • Profile picture of the author GMD
      Banned
      Last year, I sold a website of mine for $12,000.00.

      We used Escrow.com and the transaction progressed smoothly and flawlessly. The buyer got what he/she was expecting and I got my money without hassle or worry. The process worked in my case.

      The one thing that you need to be careful about?

      WAIT until Escrow.com confirms to you, in writing, that good funds have been received from the buyer. Some people, ignorant of the process, will transfer a website as soon as the buyer initiates the terms and transaction on Escrow.com without actually sending them the money.

      Once you've confirmed good funds have been received by Escrow.com, you're safe.

      1. As you complete the sale, keep records of everything in case you need it.

      2. Once the purchase is complete, and your buyer is happy, make sure he let's Escrow.com know the transaction is complete and your funds will be released to you -- if the buyer doesn't do this, then Escrow.com usually waits about three (3) days before the transaction is officially assumed successful.

      There's TONS more details but you get the picture.

      Go to Escrow.com and READ THE TERMS AND CONDITIONS and educate yourself as to how the step-by-step process works. Nothing beats doing that.

      Good luck and congratulations!
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      • Profile picture of the author SeoDemon
        Originally Posted by GMD View Post

        Last year, I sold a website of mine for $12,000.00.

        We used Escrow.com and the transaction progressed smoothly and flawlessly. The buyer got what he/she was expecting and I got my money without hassle or worry. The process worked in my case.

        The one thing that you need to be careful about?

        WAIT until Escrow.com confirms to you, in writing, that good funds have been received from the buyer. Some people, ignorant of the process, will transfer a website as soon as the buyer initiates the terms and transaction on Escrow.com without actually sending them the money.

        Once you've confirmed good funds have been received by Escrow.com, you're safe.

        1. As you complete the sale, keep records of everything in case you need it.

        2. Once the purchase is complete, and your buyer is happy, make sure he let's Escrow.com know the transaction is complete and your funds will be released to you -- if the buyer doesn't do this, then Escrow.com usually waits about three (3) days before the transaction is officially assumed successful.

        There's TONS more details but you get the picture.

        Go to Escrow.com and READ THE TERMS AND CONDITIONS and educate yourself as to how the step-by-step process works. Nothing beats doing that.

        Good luck and congratulations!
        EXACTLY, wait until they confirm that the payment is received, don't send before that, good luck
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  • Profile picture of the author GlobalTrader
    Used their services about 5 years ago. Extremely professional and a very smooth transaction.
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    GlobalTrader

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  • Profile picture of the author masterjani
    Anything over 1k, Escrow.com is really worth.
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    • Profile picture of the author GMD
      Banned
      Originally Posted by masterjani View Post

      Anything over 1k, Escrow.com is really worth.
      Since you can usually get the buyer to pay all escrow fees, I'd actually disagree with you and say ANY AMOUNT that you don't feel comfortable loosing is worth using escrow for.

      Even if you're selling a site for $500 or even $250, why risk transferring the goods to your buyer and not get paid?

      Escrow.com is great for ANY AMOUNT of money.
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      • Profile picture of the author jaggyjay
        Ditto! You can't go wrong with it.

        Only thing you have to do is keep up a good rapport with the buyer/seller so you can be in agreement about when certain milestones are met (ie: documentation, transfer of goods, etc.).

        Originally Posted by GMD View Post

        Escrow.com is great for ANY AMOUNT of money.
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  • Profile picture of the author Randall Magwood
    Escrow .com is a reputable site. One big way they are used is when peopel join Alibaba and pay for products from overseas merchants.
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    • Profile picture of the author KG83
      Escrow.com is not affiliated with Alibaba in any way. Alibaba is a completely different service that uses their own escrow company.
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