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What Is Escrow.com and How Does It Work?

Escrow.com is probably the most known escrow company. It's an online third-party service that provides buyers and sellers with a secure way to conduct transactions.

What is Escrow.com and what does it do?

If you’re in the market for buying or selling domain names, there’s a good chance you’ve heard of Escrow.com. In this blog post, we’ll focus on escrow service called Escrow.com, including how to set up a service on the platform and what fees are involved.

Essentially, escrow services act as an intermediary between the buyer and seller – ensuring a safe and transparent transaction process. It protects both parties from any fraudulent activity, and also helps resolve any issues that may arise during the transaction. In short, it ensures both parties are satisfied with the deal before any money changes hands.

Estimated reading time: 5 minutes

How does Escrow.com work?

The process begins when a buyer and a seller agree to use Escrow.com as the third-party for their transaction. The buyer then deposits the money and the seller transfers the product or service to the buyer.

Once the buyer receives and verifies that they are satisfied with the product or service, they notify Escrow that they’re ready to release payment to the seller. At this point, Escrow.com will release payment to the seller, and the transaction is complete. Let’s take a look at the detailed steps involved in an Escrow.com transaction:

1. Buyer and Seller agree to terms

Both the buyer and seller, must agree to the terms of the transaction (sales price, fees,..) as laid out on Escrow.com before any funds can be sent or received.

2. Buyer sends payment to Escrow.com

After they agree on terms, the buyer pays to Escrow.com. They can use Paypal or credit card to pay for the domain name. After buyer deposit funds, it is held there until the transaction is complete.

3. Seller sends domain name to buyer

Once they receive verification that the funds have been sent to Escrow.com, the seller can send their domain name to the buyer.

It has to be provided via e-mail or phone. You will most likely send the Auth-Code, or you can push to domain through the same domain provider.

4. Buyer verifies product or service

Once the buyer receives the item, they must verify that it is as described and meets their expectations. For instance, if the domain name is spelled well, or if the seller transferred the right domain name.

5. Payment is released to seller

If the buyer accepts the item, they can choose to release payment to Escrow service, which will then send it on to the seller.

What else does Escrow.com offer?

Escrow.com offers a variety of services for conducting secure online domain name transactions, including: domain name purchases and sales, website transfers, escrow accounts for large-scale transactions (houses, cars,..), dispute resolution services, and more.

Is Escrow.com safe?

Yes, Escrow.com is a secure payment platform to use when conducting online transactions. It is probably the safest and most reliable method to have when buying or selling domain names, as it guarantees that both parties are satisfied with the transaction.

All funds are held in trust until both parties have verified that they’re satisfied with the product or service they received from each other. Additionally, all financial information is encrypted and securely stored.

Furthermore, Escrow.com is regulated and licensed by several federal and state statutes—further proving its reliability and security.

Are there any fees associated with using Escrow.com?

Yes, depending on the value of the transaction, there are typically some escrow fees for using Escrow’s services. The fee is paid by the buyer or seller (or split between them). The amount of the fee will depend on the total value of the transaction. Escrow.com also charges 20$ for wire transfer to send funds to bank account.

Escrow’s fee calculator.

However, if you want to know accurate escrow fee (rate/amount), go to Escrow’s fee calculator.

Conclusion: Is escrow.com really worth it?

Using Escrow service is a great way to protect yourself and your money when making online purchases or sales. With its secure platform, trusted services, and customer support team, you can be sure that your transaction will be conducted professionally and without worry.

If you’re looking for an easy and safe way to make an online purchase or sale, Escrow.com is the way to go. You can also buy some of our domain names using this service. So do not hesitate to buy domain from us!

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