A couple of weeks ago someone made an offer on one of my domains, we went back-and-forth and landed on $1,500. He suggested we use Pay Pal, I said I only use domain escrow services and kicked off the transaction at Epik Escrow…then he went radio silent.
I learned my lesson the hard way when I first started buying and selling domain names, that was before I had a bear so it’s safe to say I wasn’t nearly as wise. I remember the first time someone asked if they could pay via Pay Pal, I said, sure – sounds good. They sent the funds via Pay Pal, I transferred the domain, then a few days later Pay Pal contacted me, the buyer had claimed they never got their merchandise and had asked for a refund.
I was livid. I sent Pay Pal proof that the transfer had happened but they said they couldn’t verify it, so I got robbed. You know the saying, fool me once…after that I decided, I’m using a domain escrow service from now on.
While it sucks to lose a sale that you thought you had in the bag, it’s also good to know that you actually never had a sale, you had a scammer that you thwarted once they found out they had to actually follow through. What I really like about Epik Escrow is that they actually hold the domain, huge advantage to an escrow service that’s also a registrar and adds a nice additional layer of security.
If you ever find a buyer that’s ready to close the deal but wants to pay with Pay Pal, just tell them you want to use an escrow service and see what happens. That will show you if you had a real buyer or a real scammer.