First time Escrow.com transaction, Need help!!

[DotCom9]

Hi All,

I am doing my first escrow transaction for one of my domain names and need some help. I have below three options available, and want to know which one is the safest one. Currently all I got from the buyer is to transfer the name to a physical address which is a little confusing to me.

Username / Password
Authorization code
Push

Thanks

 

[12345]

Are you transferring the name to another registrar or are you pushing the name within the same registrar?

 

[DotCom9]

Are you transferring the name to another registrar or are you pushing the name within the same registrar?

Hi Michael,

Buyer hasn't provided any registrar information.

Thanks

 

[discobull]

Hi All,

I am doing my first escrow transaction for one of my domain names and need some help. I have below three options available, and want to know which one is the safest one. Currently all I got from the buyer is to transfer the name to a physical address which is a little confusing to me.

Username / Password
Authorization code
Push

Thanks

The safest and fastest is to push, but you have to communicate with your buyers and tell them what you're planning and make sure they agree before you proceed. Push means moving from one account to another within the same registrar so the first step is to find out if they have an account with your registrar, and ,if not, ask them to open one for free.

 

[ChubbyDfat]

A push is within the same registrar.
Both of your will have to have escrow accounts and a requisition form (I dont know the exact name of it) will have to be created for the sale with the specific name. That starts the whole sale process from escrow.

Normally... you will be prompted by Escrow when they need you to do something.

It goes like this.
After you guys come to an agreement for the domain name. An order is created (I normally have the buyer pay the fees... but that is me).
Anyway, After everything has been agreed to (24 hours for domain inspection, who pays the fees.. ect)
The buyer will be prompted to put the $$$ up in which Escrow will collect.
Once the money has landed in escrow (depending on how they pay.. it may take a day or two to clear)
Then you will be prompted by escrow to send your domain over.
Once that is done... (and there is a series of agreements that you have to go through with escrow), the buyer can agree that (s)he has received the domain name and they take responsibility for it.
Then you get to select how you want escrow to pay you (direct deposit or check). It will take several days from when you start till the time the $$$ land in your bank.

 

[ChubbyDfat]

Here is a copy and past of the last time I used escrow. This should sum it up for you..
**NOTE** read it from bottom to top!:

Oct 21 2014 12:17PM PDT
Funds disbursed. Final closing statements sent to both parties.
Oct 20 2014 2:44PM PDT
Inspection period ended, Buyer accepts merchandise.
Oct 20 2014 2:44PM PDT
Buyer received merchandise. Inspection period starts.
Oct 20 2014 12:13PM PDT
Seller selected transfer type - Authorization Code
Oct 20 2014 10:38AM PDT
Escrow.com approves payment.
Oct 20 2014 10:38AM PDT
Buyer paid by wire transfer, awaiting Escrow.com approval.
Oct 17 2014 2:14PM PDT
Both parties have accepted the offer, awaiting buyer payment.
Oct 17 2014 10:38AM PDT
NOTE: Domain name transfer only. No content, software, adsense or income generating accounts included.
Oct 17 2014 10:38AM PDT
Buyer initiates the transaction

 

[DotCom9]

So, if it's a push, I ask for Customer# and Email id associated with the name and if it's a transfer to a different registrar, I just provide my authorization code to them? Can I ask the seller at Escrow.com which one he prefers and actually tell him that push is fast?

Or do I have to email them outside escrow.com?

Thanks

 

[cdboard]

what registrar is the domain at?

 

[discobull]

So, if it's a push, I ask for Customer# and Email id associated with the name and if it's a transfer to a different registrar, I just provide my authorization code to them? Can I ask the seller at Escrow.com which one he prefers and actually tell him that push is fast?

Or do I have to email them outside escrow.com?

Thanks

The push process varies depending on the registrar. Email address and ID is for Godaddy pushes. Is your domain with GoDaddy? If so, Godaddy is a two step process. You initiate the push on your end, and then the buyer has to log into their account and accept it.

FYI, when you're communicating with the buyer about how to deliver the domain, it's a good idea to keep escrow.com in the loop by cc-ing them at [email protected] and asking the buyer to reply-all when they respond. Put the transaction number in the subject line. This is for your protection.

Lastly, if the domain is with Godaddy, when you're initiating the push, choose the option that allows you to enter the buyer's contact info in the whois so that you can be sure that it matches up exactly with the contact info they provided escrow.com

 

[DotCom9]

The push process varies depending on the registrar. Email address and ID is for Godaddy pushes. Is your domain with GoDaddy? If so, Godaddy is a two step process. You initiate the push on your end, and then the buyer has to log into their account and accept it.

FYI, when you're communicating with the buyer about how to deliver the domain, it's a good idea to keep escrow.com in the loop by cc-ing them at [email protected] and asking the buyer to reply-all when they respond. Put the transaction number in the subject line. This is for your protection.

Lastly, if the domain is with Godaddy, when you're initiating the push, choose the option that allows you to enter the buyer's contact info in the whois so that you can be sure that it matches up exactly with the contact info they provided escrow.com

Great suggestions. Thanks..

 

[ChubbyDfat]

What Discobull stated pretty much sums it up.
Remember to COYA, put as much detail as possible into any email exchanges. Keep the emails for your records. Make sure you have everything agreed to before you start the process.
Once the process starts... they kind of walk you through it, nothing to really be afraid of.

Escrow is safe and you can ask questions at any time. Its like a tennis match, you have an action, then they have an action, then you have an action (look at the list I posted above... shows how it normally goes).

You should be good. Just make sure all the information is correct and you keep records of everything.

Cheers

 

[ChubbyDfat]

Forgot to mention.

One more thing to think about. If you have an email associated with that domain name, you must clear all that information out. Change any accounts that you have associated with that email address as well.
You will lose all email(s) when you do the transfer and if you have accounts that routinely send you email, the next owner could end up with your email(s) (if they set it up as a catch all) if that makes sense.

Just food for thought.

Cheers

 

[DotCom9]

Thanks a lot guys..

 

[discobull]

Thanks a lot guys..

You're welcome. The last part that you'll need to worry about is getting paid. Escrow.com will only release funds to you once they have confirmation that the buyer has received the domain. Unfortunately, a percentage of buyers will stop communicating once they've taken possession of the domain and they won't give escrow.com confirmation that they've received the domain. In that event, you have to alert escrow.com of the change in whois info so that they can start the inspection period on behalf of the buyer. I usually proceed as follows:

1) Once I receive Godaddy's email confirming that I have initiated the push, I forward that email to escrow.com with the transaction number added to the subject line.

2) I send the buyer an email instructing them how to log into their Godaddy account and approve the domain push. In that same email, I remind them to please close out the escrow.com transaction once they've confirmed that they have the domain in their possession.

3) Once the buyer accepts the domain, Godaddy sends out another email indicating that the domain has been accepted into the recipient's account. I forward that email to escrow.com as well and attach a screenshot of the updated whois info. Once again, the transaction number is added to the subject line.

If after 24 hours the buyer hasn't closed out the transaction and escrow.com hasn't started the inspection period, I phone them and nudge them into starting it. Bear in mind that they are closed on weekends.

Good luck with it.

 

[DotCom9]

Escrow has secured the payment from the buyer but the buyer is not replying to any of my emails regarding domain push.

What do I do now? Do I talk to escrow customer service? Or email the buyer the authorization code so that they can proceed with the transfer to the registrar of their choice?

It's already been 4 days now. Please advice..

Thanks

 

[discobull]

Escrow has secured the payment from the buyer but the buyer is not replying to any of my emails regarding domain push.

What do I do now? Do I talk to escrow customer service? Or email the buyer the authorization code so that they can proceed with the transfer to the registrar of their choice?

It's already been 4 days now. Please advice..

Thanks

I wouldn't panic just yet since it's been a holiday weekend. Give it another day but if you don't hear from the buyer, contact escrow.com and see if they'll phone him and find out what's going on.

 

[DotCom9]

I wouldn't panic just yet since it's been a holiday weekend. Give it another day but if you don't hear from the buyer, contact escrow.com and see if they'll phone him and find out what's going on.

Ok, thanks. I will wait for another day.

 

[Sirkarl]

Ok, thanks. I will wait for another day.

Congrats on the sale!

 

[DotCom9]

Ok buyer replied back with the below but removed escrow.com from the loop. Do I ask them to email having escrow.com support copied? Also they need the authorization code for the transfer to happen right? Please advice..

we have no GoDaddy account and will never have one.

Please unlock the domains transfer lock within the domain settings and let us know, we will then initiate pulling the domain to our account.

Ps: Buyer is from Germany.

Thanks

 

[Mauli Fry]

Hello,

If you are most comfortable, please copy us, escrow.com, on your transfer emails with the other party. Copying Escrow.com during the transfer process allows us to better keep track of the transfer and stage of the transaction. It sounds like your domain is at GoDaddy and the buyer does not and will open a GoDaddy account to allow you to push the domain to their account. This means that the domain has to be transferred to the new registrar.

• You will need to unlock the domain (if applicable, remove privacy) within GoDaddy
• Request an auth code, and send the auth code you receive to the buyer.
• The new registrar notifies GoDaddy, and then GoDaddy emails you with instructions to complete the transfer. If you do not accept or deny the transfer request to the new owner's account within five days, GoDaddy automatically complete the transfer.
• The registry notifies the new registrar of the transfer's acceptance or rejection.
• You will receive confirmation when the transfer completes to the new registrar, the new owner. The Whois information will also be updated.
• Please note a transfer between registrars may take five to seven days to complete after you authorize it.

Please contact us any time for assistance. You may PM me here to discuss this further and with any questions. Our customer support number number is (domestic) 888-511-8600 / (International) 949-635-3800.

Thanks,
Mauli Fry

 

[discobull]

Ok buyer replied back with the below but removed escrow.com from the loop. Do I ask them to email having escrow.com support copied? Also they need the authorization code for the transfer to happen right? Please advice..



Ps: Buyer is from Germany.

Thanks

Yes, you have to unlock the domain plus provide the buyer with an authorization code. Don't worry that they forgot to cc escrow.com in this one email, but make sure you cc escrow.com with your response. In addition to sending your auth code, ask the buyer the name of the receiving registrar and what contact info will be entered in the whois record once the domain is received ( your own contact info will still appear after the transfer up until the buyer manually changes it ). Remind the buyer to please "reply-all" with the response.

Good luck

 

[DotCom9]

Yes, you have to unlock the domain plus provide the buyer with an authorization code. Don't worry that they forgot to cc escrow.com in this one email, but make sure you cc escrow.com with your response. In addition to sending your auth code, ask the buyer the name of the receiving registrar and what contact info will be entered in the whois record once the domain is received ( your own contact info will still appear after the transfer up until the buyer manually changes it ). Remind the buyer to please "reply-all" with the response.

Good luck

Thanks I will do that.

 

[DotCom9]

Thanks to all those who helped. I have received the money for the name. Although this was the toughest sale I faced so far since Escrow does not hold the domain name.

Does anyone know of a service similar to Sedo which holds both the domain name from the seller and the money from the buyer but costs less?

Thanks

 

[discobull]

Thanks to all those who helped. I have received the money for the name. Although this was the toughest sale I faced so far since Escrow does not hold the domain name.

Does anyone know of a service similar to Sedo which holds both the domain name from the seller and the money from the buyer but costs less?

Thanks

DN.com ( based in China ), escrowhill.com, and snapnames escrow. Out of those 3, I've only had experience working with DN.com and they've been fine.

 

[DotCom9]

DN.com ( based in China ), escrowhill.com, and snapnames escrow. Out of those 3, I've only had experience working with DN.com and they've been fine.

Thank you..I will try DN.com next time