escrow? anyone used it to sell a domain

[PaullasPaullas is verified member.]

has anyone here used escrow to sell a domain name, if yes can you let me know the proceedure and time scale involved.

 

[mojoco]

has anyone here used escrow to sell a domain name, if yes can you let me know the proceedure and time scale involved.

Its very easy.

You initiate the escrow, let them know the name, the sales price and who is responsible for the escrow fee, (buyer, seller or split). Give escrow the buyers email address.

escrow emails the buyer, buyer agrees to the transaction and transfers funds to escrow

when escrow have the funds they instruct you to transfer the name

escrow confirm transfer and wire you the money.

escrow only deal in USD, so for a .co.uk what usually happens .....
pounds are converted to dollars and back to pounds so you will see currency fluctuation

 

[retired_member26]

We are here talking about escrow.com, aren't we? Then yes Mojoco's explanation is correct but any other escrow service or site I would not consider it without investigation.

 

[mojoco]

also be careful when you agree to the part about inspection

the buyer is given an inspection period, which defaults to 3 or maybe 5 days, which will delay your funds

you can opt out out of this and are asked for your reason

something along the lines of "as soon as the whois record is updated to the new registrant I no longer have control of the domain and will require immediate payment" will suffice