Quote:
Originally Posted by JCK
Actually it would seem Escrow.com has a risk.
Risk to seller:
If the buyers intent is to defraud you the buyer could change the whois info immediately after you transfer it to the buyer and before Escrow.com has verified it has been transfered to something other than what was agreed apon so that they could then claim to Escrow that they never got it and they want their money back. Yes the risk is small, especially if you know who you are selling it to, but nevertheless the risk exists.
Risk to buyer:
If the sellers intent is to defraud you they could transfer it to the same registrar as the buyer but to their own account, then change the whois info to match what was agreed apon, get Escrow.com to verify, before you have had a chance to realize what has happened and then they change it back to something else.
This is why it is best to use an escrow company that either is also a registrar themselves such as Moniker so the control of the domain and the money is always with the escrow company or at least an escrow company that permits you to push it into an registrar account that the escrow company controls. Pushing into an account the escrow company controls may be an option at Escrow.com if all parties agree to it but last I checked the default was verification of a standard transfer.
Why not just have the buyer buy it through Godaddy auctions, this way there is no risk to either party since Godaddy controls everything. Then the buyer can transfer it out wherever they want later.
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The other risk to the buyer is that Godaddy gives the original owner of the domain to dispute any account changes for I believe 10 days. So within this period even after the seller and buyer did their Escrow.com transaction. The seller can still dispute and get the domain back to their account.
I like Moniker Escrow since they are in the domain business, if this was a big $ deal I would make sure the domain was transferred to Moniker.com first. The whole transaction would be done through Moniker. Currently your using 2 companions Godaddy and Escrow so issues can arise. I did a $2,400 domain once with Godaddy and Escrow.com once, but we also signed an agreement with the terms between both of our companies. My other big deals were done with reputable domainers and brokers...so no problems.