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  1. #1

    Buying a Godaddy domain with Escrow.com

    Hello,

    I am in the process of buying a domain name registered through Godaddy, with the help of Escrow.com.

    The current Escrow status is "Seller has indicated the domain transfer process has started".

    The Godaddy account change was successful, now I see the domain in my Godaddy account, and the whois information is mine. So I control my newly bought domain.

    Escrow.com claims: "You will have 3 days to accept or reject the domain name transfer, once it has been received."

    But what if I accept the domain name transfer, and then the original owner (the seller) emails Godaddy at [email protected] that he wants to undo the Godaddy account change? If I now accept the transaction in Escrow.com, then the seller will recieve my payment from Escrow.com, but after that he can undo the whole thing at Godaddy?

    If I know it correctly, the seller has 15 calendar days to undo the account change. But I have to accept the domain transfer in 3 days! Should I now accept the domain name transfer, or what to do?

  2. #2
    Please help me, I am new to Escrow.

  3. #3
    Well, there is not much you can do.

    You are unlikely to get Godaddy to change their 15 day "I-changed-my-mind" policy, and escrow.com is certainly not going to change their 3-day policy.

    I would recommend immediately transferring out the domain to a different registrar. I always do that the moment I purchase a domain, because that is the only way to truly get it away. Then if godaddy wants it back for some reason, they would need to fight with your new registrar, and you can provide escrow.com proof of transaction, etc...

    I believe with godaddy you can manually "approve" an outgoing transfer request (or contact their support and ask them to approve it right away).. so it shouldn't take more then a few hours to transfer the domain to another registrar.

    I hope that helps.

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  4. #4
    Join Date
    Jun 2005
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    5,866
    You'll have to get GoDaddy to remove their 60 day hold first, since the Registrant info has changed, MrZippy.
    Signature Under Construction.

  5. #5
    I cannot transfer out the domain for 60 days!

    The maximum inspection period for domain names at Escrow are 10 days. Inspection period: The number of days the Buyer can inspect the domain names after the whois is transfered to the buyer's information.

    So am I so stupid, or Escrow.com?
    Last edited by Bence Ur; 09-20-2009 at 05:08 AM.

  6. #6
    Neither. It is godaddy who is stupid. Their 60-day policy is against ICANN policy. Here's some discussion on the subject. Feel free to add your opinion about godaddy's policies.

    If you complain loudly enough, they (Godaddy) will allow you transfer the domain. I speak from personal experience on multiple occasions.

    Good luck.
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  7. #7
    Quote Originally Posted by mrzippy View Post
    Neither. It is godaddy who is stupid. Their 60-day policy is against ICANN policy. Here's some discussion on the subject. Feel free to add your opinion about godaddy's policies.

    If you complain loudly enough, they (Godaddy) will allow you transfer the domain. I speak from personal experience on multiple occasions.

    Good luck.
    LOL, is it a joke? I thought that I can trust Escrow.com, since they are 10 years old now. They promised this:

    https://www.escrow.com/solutions/domain_name/index.asp

    "Escrow.com protects your money and your domain.

    Since the Buyer pays Escrow.com and not the Seller, Escrow.com can withhold payment until it's satisfied the domain name has been transferred by the Seller. One of the ways Escrow.com does this is by checking the WHOIS database of the appropriate Registrar* to make certain it properly reflects the new Buyer's name as the domain name Registrant. Once this has been verified, Escrow.com releases payment to the Seller."

    It must be a joke. Looks like they never read Godaddy's policies.

    Is it safe at all to use Godaddy and Escrow.com for domain transactions???

    Are there people on this forum who successfully bought a domain name using Godaddy and Escrow???

  8. #8
    Quote Originally Posted by Crusader99 View Post
    Are there people on this forum who successfully bought a domain name using Godaddy and Escrow???
    I already answered that question. Yes, I have successfully bought several domain names using Godaddy and escrow.com.

    Once the domain ownership information is changed to YOUR name.. then the transaction is completed. You now own the domain and escrow.com will release the money to the seller.

    After that.. if the seller "takes back" the domain name through some godaddy policy, then you must fight with godaddy to get your domain back. It will not be difficult, since you will have proof. You can show godaddy the escrow.com transaction information, and the fact that the seller changed the ownership information of the domain name to YOURS...

    If you don't like godaddy, then next time I recommend having the domain seller transfer the domain to a different registrar before you buy it.

    Again.. this is NOT an issue with escrow.com. It is an issue with godaddy, who is a corrupt registrar that doesn't follow ICANN regulations.
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  9. #9
    Quote Originally Posted by mrzippy View Post
    I already answered that question. Yes, I have successfully bought several domain names using Godaddy and escrow.com.

    Once the domain ownership information is changed to YOUR name.. then the transaction is completed. You now own the domain and escrow.com will release the money to the seller.

    After that.. if the seller "takes back" the domain name through some godaddy policy, then you must fight with godaddy to get your domain back. It will not be difficult, since you will have proof. You can show godaddy the escrow.com transaction information, and the fact that the seller changed the ownership information of the domain name to YOURS...

    If you don't like godaddy, then next time I recommend having the domain seller transfer the domain to a different registrar before you buy it.

    Again.. this is NOT an issue with escrow.com. It is an issue with godaddy, who is a corrupt registrar that doesn't follow ICANN regulations.
    I will never ever use Godaddy and Escrow.com again. Escrow is not a true domain name escrow service. A true domain name escrow service first acquires the domain name from the seller. Then after the buyer sent the money, then they will transfer the domain to the buyer.

  10. #10
    Quote Originally Posted by Crusader99 View Post
    Escrow is not a true domain name escrow service. A true domain name escrow service first acquires the domain name from the seller. Then after the buyer sent the money, then they will transfer the domain to the buyer.
    That is exactly what escrow.com does.

    If the domain whois does not show YOUR information, then they will not release your money to the buyer.

    Once the domain whois information shows YOU as the owner, then that is the conclusion of the domain sale. You now own the domain. Period. End of story.

    If the registrar then changes ownership information for whatever reason.. then you are dealing with a dishonest registrar. That has *nothing* to do with escrow.com.

    Every escrow service works exactly the same way.
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  11. #11
    If the whois shows my information, it does not mean that I own the domain! Whoever knows the password and email for a domain account, controls that given domain.

    What if the seller just changes the whois information, whithout really transfering out the domain to me, and claims the he sold the domain?

    What if I as the buyer make the whois data private immediately after I got the domain, and claim that I did not get the domain yet?

    Lots of fraud possibilities here.

    "Every escrow service works exactly the same way. "
    You are wrong. For example, Moniker's escrow service works different:
    http://www.moniker.com/aftermarket/domain-escrow.jsp

    "Unlike companies such as Escrow.com, Moniker is an ICANN Accredited Registrar and the only company with a special domain escrow account at its registrar to safely hold domains and protect both buyer and seller of domain related transactions."

  12. #12
    Join Date
    Jun 2005
    Posts
    5,866
    Well I must agree with Crusader99 in that not all escrow companies are the same. Moniker will not pay any money to the seller, until they have control of the domain. Escrow.com doesn't do that. Moniker is definitely safer than Escrow.com for escrow transactions. I have successfully sold domains at GoDaddy using Escrow.com without any problems at all.
    Signature Under Construction.

  13. #13
    Escrow.com will not pay the seller if the buyer communicates that they do not have control. The inspection period can be selected from 1-10 days and begins once the buyer receives control of the domain. Extended inspection periods can be arranged by request to Escrow.com's support department.

    Escrow.com is a licensed escrow company. Escrow.com is a neutral party that disburses funds upon mutual agreement and escrow instruction. Buyer's always have their inspection period time to notify Escrow.com if they do not have control of the domain due to needed passwords or other issues.

  14. #14
    Join Date
    Jun 2005
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    How come there have been instances of fraud at Escrow.com then? This can happen when you don't take control of the domain first.
    Signature Under Construction.

  15. #15
    What instances of fraud are you speaking of? Fraud is in the Internet trading world. Good practices include researching your item and the selling party. Escrow.com protects against fraud by receiving good funds and keeping them held in escrow while the item is being exchanged. We protect against payment fraud.

  16. #16
    Did you read the first message in this thread?
    How does Escrow.com protect buyers in the following situation?

    1) Buyer wants to purchase the domain name example.com. Example.com is registered at Godaddy.
    2) Buyer starts a new Escrow.com transaction.
    3) Seller agrees to sell example.com.
    4) Buyer sends the required amount to Escrow.com.
    5) Seller pushes the domain from his/her Godaddy account into the Buyer's Godaddy account, so now Buyer has full control over the domain.
    6) Seller notifies Escrow.com in maximum 10 calendar days that he/she gained control over the domain, so the transaction is over.

    7) But Seller has 15 calendar days to undo the transaction at Godaddy. However, Buyer had to accept or decline the transaction in 10 calendar days.
    8) Seller calls Godaddy that someone has stolen his/her domain name, and somehow Godaddy undos the whole account change (everything is possible if you deal with godaddy), and now Seller has the domain and the money of the Buyer!
    9) Buyer now has to prove that he/she acquired the domain legally, but it needs a lot of time I guess.

  17. #17
    Buyer could simply show Godaddy the transaction at Escrow.com. Escrow.com would be happy to get involved with anyone at Godaddy (or any other registrar) to assist the buyer in proving the purchase. To my knowledge, this has never happened Escrow.com's ten years of business.

  18. #18
    Hm, good news.

    But why not extend the maximum number of days of the inspection period to at least 16 days?

  19. #19

  20. #20
    Escrow.com now has the option of a 1-30 day inspection period.

  21. #21
    Quote Originally Posted by Escrowcom View Post
    Escrow.com now has the option of a 1-30 day inspection period.
    TRUE! I have just checked this, and by now I can really choose up to 30 days as inspection period. Thanks, you are a really flexible company.

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