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Has anyone used escrow? Hi Having received an offer for one of my .Tels I was thinking of using Sedo's external escrow service and was wondering if anyone who has 'actually used this service' could give me some tips, or any possible pitfalls to watch out for. One of the main concerns I had was suppose I gave Sedo my name and my email address as the Seller but the Buyer was very slow in providing the same, or maybe even changed their mind and as such failed to supply them altogether, where does that leave me. Am I locked into some sort of an open ended contract or could I drop out if I want to? Obviously much easier if I put the name on Sedo and then the buyer bids my asking price which I can accept but that may mean more commission. So any help from anyone would be appreciated. |
i have used both Sedo's Escrow and External ( www.Escrow.com ) both are safe they will only tell you to transfer the domain to him/her when they approve the payment from the buyer but then in www.escrow.com the buyer had to approve the receipt of the domain and if they don't you can mail them and they can check the who.is and all and pay you. where as with sedo when you transfer the domain to them sedo pays you right away. Shahid |
Hi Shahid Many Thanks But what happens if Sedo take ownership of my name but then the buyer doesn't pay Sedo, do I still get paid anyway or do I have to wait until Sedo get paid or can I get my name back from Sedo. Or even do Sedo keep it and sell to who ever they want? |
Quote:
Sedo don't issue the request to you for transferring the domain to them until they have received payment from the buyer - so in the event of non-payment the domain ownership stays exactly as it was before the sale. Here's an extract from the contract of one of my successful sales via Sedo: --------------------------------------- d) In the event of a violation, Sedo GmbH shall have the right to abort the transfer and to demand the commission from the contractual party who has violated his/her obligation to cooperate. e) Payment must be remitted to Sedo with five (5) business days from the creation of the payment request. --------------------------------------- Sedo do inform you when they consider the buyer to be a non-payer (they usually allow about 10 business days from the payment request even though the contract states 5) - it's then up to you whether you want to pursue the buyer directly and demand full payment for the domain. In my experience the Sedo escrow process is quick once the buyer has made payment - this is helped by the fact that Sedo have accounts at most registrars so to transfer your domain to them is a few seconds "push" rather than the several days it takes when transferring between registrars. Mike Seaton[/size] |
Hi Mike That was amazing answer, it doesn't get better than that! Many thanks for your help. |
Hello, sorry i have been away, but mike has answered your requested better then i would have explained it Thanks shahid |
