Escrow.com question

[Erdy]

There is a transaction and I'm the buyer. Everything is fine so far. I paid. Escrow approwed payment. Hopefully the domain will be pushed to me soon but today something interesting happened. The buyer emailed me with my real name saying he will do the transfer soon. How did he know my real name? I have never told him my real name.

He could have just opened a new account himself with my name and push the name to that fake account. He already knows my email address.

Is it normal on escrow transaction that escrow tells the seller buyers real name? I'm not very comfortable with this.

 

[000]

Yes, Escrow shows the buyer's name to the seller.

No need for concern. I just completed a mid $x,xxx domain transaction today at Escrow!

 

[Erdy]

There are too many loopholes with this system. What stops the seller from opening a new account in my name and my email on admin contact?

Escrow.com should do it the way sedo does. They should tell the seller to push to sedo's account and then the sedo guy would push top buyers account.

I'm not worried too much. This is a high XXX transaction but I would be worried if it were high 4 figures.

 

[Dan]

You have to say that you have received the domain. Without you confirming that, you have nothing to worry about.

 

[SpareDomains]

you will need to confirm you received the domain from your escrow account before the seller is paid, the domain you are buying and your payment is currently tracked and associated with your escrow account so even if the seller made a new account with your information that would not remove the domain and payment tracking from your account and place it into the new bogus account, I have never had a problem with escrow.com and transactions usually complete in 2-4 days, can't resist this one, sorry...

Escrow.com should do it the way sedo does.

1-8 weeks for a closed deal?

 

[goodkarmaco]

The name is held in "escrow" so he could not do what you worry about.

He cannot open an account under your name and push the name to himself because you have paid Escrow to provide the "escrow service, thus you name cannot be stolen as it is "held in escrow" until the payment precedure clears.

The process is brilliant as the secure transaction is that you only can have the one name in escrow at a time and so how can anyone still names if a buyer has to pay for the escrow service?

 

[Badger]

If you guys ever get stuck with Escrow, we have a kind of reverse escrow system at 1plus.net that were looking to expand once weve released our new platform..

Lots of members here at namepros have used our reverse escrow, its way quicker than regular escrow and remarkably safe.

 

[-Raja-]

From all the talk i've seen from members here and elsewhere i assume that escrow.com is the best escrow service available.

 

[RyuKenLi]

Escrow has been 2 for 2 for me.

 

[Dan]

If you guys ever get stuck with Escrow, we have a kind of reverse escrow system at 1plus.net that were looking to expand once weve released our new platform..

Lots of members here at namepros have used our reverse escrow, its way quicker than regular escrow and remarkably safe.

Can you explain how that works or what reverse escrow is?

 

[ginge133]

Yeh ive done a few transactions with them and they've all gone well. I suppose to prove that you are really not in possession of the domain name you could get the registrar involved etc.

 

[GiddyUp]

i also just closed a mid $X,XXX deal on escrow.

just to confirm, they do not actually hold the domain name in escrow.

i was the buyer, so i put the funds into escrow and escrow confirmed with the seller that the funds were there.

the seller then transferred the name to me (this one was through netsol) and once i confirmed it was in my netsol account then i approved the escrow transaction and they released the funds to the seller. if you do not confirm that you got the name, escrow will not give your funds away

 

[000]

I've successfully and easily completed all 7 transactions that I've done at Escrow.com, both buying and selling, with a grand total of funds exchanged reaching just under $15,000.

I'd recommend them 100%.

 

[tricolorro]

Escrow.com question Reply to Thread

There are too many loopholes with this system. What stops the seller from opening a new account in my name and my email on admin contact?

:hi:

The Buyer could also receive transfer of the domain and populate the Who Is
with the Seller's info. Then the Buyer can claim the domain was not transferred.

This scenario actually happened with a transaction at Escrow.com.

The Seller claimed Escrow.com was not being helpful.

I do not know how it played out.

Patrick