ESCROW - what is and how to do? Tell me please!

Started by JSImediaJS123, Jul 24, 2022, 05:58 AM

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JSImediaJS123Topic starter

Do I understand correctly the mechanics of selling a domain names through escrow?

I launch a deal, pass the deal number to the buyer

Buyer transfer money to Escrow account

Escrow notifies me when money places in their account

I transfer my domain to the buyer

The buyer confirms to Escrow  that he received the domain from me
Escrow transfers payment to me, withholding a commission


Escrow checks that the domain has certainly been transferred.

The commission is withheld at the starting point, when transferring money to the Escrow account, it can be paid by both the seller and the buyer, or 50/50.
Before paying funds, Escrow does not hold a commission, but a fixed amount, depending on the form of receiving money, by check, bank transfer, PayPal.

Any participant can initiate a deal.