The worry with any domain sale is simple: the buyer pays and never gets the name, or the seller hands it over and never gets paid. Escrow solves both by putting a neutral party in the middle.
The four steps
- The buyer pays, and the money is held.
- The seller moves the domain, to the buyer or to a holding account.
- The buyer confirms the domain arrived.
- Only then is the seller paid.
Which kind of escrow?
On GrabYourDot, sales up to $5,000 are paid by card and held by Stripe, our payment partner. Over $5,000, the payment goes through Escrow.com, a licensed escrow company, by wire. Either way the buyer pays no fees.