Frequently Asked Questions
Q: How you do manage the sale and transfer of a Domain Name?
ANSWER: From our own experience selling Domain Names we are happy to advise that a change of ownership can be handled safely and securely by following a few easy steps. In brief, the entire process of Domain Name Escrow which is outlined below, safeguards the interests of both Buyer and Seller in a way that can be trusted by all parties involved. The key to its success is the use of the neutral independent third party Escrow company
Escrow.com who responsibly manages the financial arrangements.
Q: What Happens After I Purchase?
ANSWER: When you purchase a Domain Name from DomainsOf.com it is transferred to you safely and securely using Domain Name Escrow to hold your payment until the domain transfer to you is complete. The domain name is transferred or “pushed” to the new owner’s Free Account with the registrar. Your purchase includes full domain name rights and annual renewals from that point on will be the responsibility of the new owner.
Q: What are the steps to Transfer a Domain Name?
ANSWER: When a Buyer buys a Domain Name from DomainsOf.com then the transaction is conducted as follows in this Transaction Summary:
- Buyer Transfers Payment to Escrow.com
- Seller Transfers Domain to Buyer
- Escrow.com Transfers Payment to Seller
The DomainsOf.com Support Team helps you through the domain transfer which is completed in a few business days.
Q: Are Escrow Transfers Safe and Secure?
ANSWER: Yes absolutely! And to explain why, here are quotes from the website of our independent partners Escrow.com:
The benefits of Domain and Website Escrow
Since the Buyer pays Escrow.com and not the Seller, Escrow.com can withhold payment until we’re 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.
Q: Do You Have Any Examples of Domain Escrow Transactions?
ANSWER: Here are examples of past domain name sales using Escrow:
uber.com, snapchat.com, spacex.com, twitter.com, instagram.com, freelancer.com, gmail.com, slack.com, wechat.com, chrome.com, wordpress.com.
Q: What is Escrow?
ANSWER: Quoted from Escrow.com
An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the escrow company.
Escrows are very useful in the case of a transaction where a large amount money is involved and a certain number of obligations need to be fulfilled before a payment is released like in the case of a website being built where the buyer might want confirmation of the quality of work being done before making a full payment, and the seller doesn’t want to extend a massive amount of work without any assurance that he or she will receive payment. While traditional escrow service is quite difficult and must be obtained through banks and lawyers, Escrow.com provides online escrow services at affordable rates. While the payment is ‘In Escrow’ the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.
How does Escrow Work?
Escrow.com reduces the risk of fraud by acting as a trusted third-party that collects, holds and only disburses funds when both Buyers and Sellers are satisfied.
- Buyer and Seller agree to terms – Either the Buyer or Seller begins a transaction. After registering at Escrow.com, all parties agree to the terms of the transaction.
- Buyer pays Escrow.com – The Buyer submits a payment by approved payment method to our secure Escrow Account,
Escrow.com verifies the payment, the Seller is notified that funds have been secured ‘In Escrow’.
- Seller ships merchandise to Buyer – Upon payment verification, the Seller is authorised to send the merchandise and submit tracking information.
Escrow.com verifies that the Buyer receives the merchandise.
- Buyer accepts merchandise – The Buyer has a set number of days to inspect the merchandise and the option to accept or reject it. The Buyer accepts the merchandise
- Escrow.com pays the Seller – Escrow.com releases funds to the Seller from the Escrow Account.
Transaction is complete – safely and securely!