1 year ago
38
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Yes, very nice email with the new "pricing structure", but I don't see anywhere the new pricing for the Concierge Service, the only way to go if you wanna do a trustworthy domain transaction.
Anyway, I guess we will know on May 31st on their website https://www.escrow.com/fee-calculator
Last edited: Tuesday at 4:30 PM
Good question. I reached out to Escrow for the DC fees. Incidentally, that feature isn't more secure than the standard escrow but it eliminates the wait for the buyer's confirmation (if you're the seller.)
Last edited: Tuesday at 4:34 PM
Good question. I reached out to Escrow for the DC fees. Incidentally, that feature isn't more secure than the standard escrow but it eliminates the wait for the buyer's confirmation (if you're the seller.)
It also eliminates the buyer's ability to change their mind after they receive the domain. In a Concierge Service transaction once the buyer makes payment it is a done deal. In a Basic escrow.com the buyer still has at least one day after receiving the domain to reject the domain and cancel the deal.
Buyer's remorse = paying the Escrow fee. It has never happened to dozens of transactions I had at Escrow.com since 2003.
that feature isn't more secure than the standard escrow but it eliminates the wait for the buyer's confirmation (if you're the seller.)
Case1. The buyer receives the domain, but he says he hasn't received it, and so he wants his money back.
The domain has been moved, transferred, but the receiver don't want to return it back, and the buyer wants their money back.
Thoughts?
This scenario may end well, but with a lot of headaches and a nightmare of time lost.
By using the Concierge Service (something that Sedo and Dan.com do by default, by the way) the Escrow party is sure about delivering the domain to the buyer. Something that should be done by default. But that's just my opinion.
I don't dispute the usefulness of Domain Concierge as a upgraded service; it's faster, but equally secure and guaranteed as the basic escrow service. The Escrow.com employees are well trained in such rare scenarios (I'm aware of a couple of cases where stolen domain peddlers attempted to use this backflip approach.)
Last edited: Tuesday at 5:17 PM
The Escrow.com employees are well trained in such rare scenarios
I don't doubt they are very well trained. But in such scenario, they don't have a clue about what happened to the domain. They didn't see the seller giving the Auth Code to the buyer. They didn't see the domain being transferred to the buyer, or to anyone.
I am not aware of that scenario. But I just know that it could happen to me, and I don't like the idea too much.
What has happened to me for god's sake is having "to beg" to the f*cking buyer to press the f*cking button so the transaction can be stated as "closed" days after the buyer has received the domain and can sleep happily.
The buyer gets their domain, and you can f*ck u waiting till when they have the time and desire to press the f*cking button. As you can see, this scenario yes, it happened to me.
Last edited: Tuesday at 5:40 PM
Again, you're paying for convenience and speed, not added security. Otherwise, we'd all go use the Epik free handling escrow (kidding!)
The new $50 minimum fee is going to price them out of a lot of smaller dollar domain transactions. $10 on a $200 transaction was good. $50 on a $200 transaction is crazy.
Looks like I'm going to have to enquire about the minimum fee for most of my names.
We have an update: The Escrow Concierge fee is now 2X the matching Standard escrow fee for each tier. See updated pricing here.
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