Sold Domain - Escrow question
 

Well I just sold my domain for $4200 through Godaddy. Then it sent me through some escrow bullshit. She's made the payment and they are waiting for it to clear.

How long does it generally take for the money to come to your bank account after a sale?

It's a personal friend that is buying it.. She doesn't even want the domain actually.. but she lives in India and it seems the only way we figured out that she could send me money because of all the restrictions (No WU, paypal, moneygram, etc.).

Anyone here from India?

Because she will have to apparently wire the money too Escrow. I am not sure if they will allow her to do that because of their restrictions? Anyone got info on that?

Thanks :thumbsup

I am not 100% sure but I think godaddy pay all money on set dates! So regardless of when the domain was sold you will not get the payment until the time they process all their outgoing payments.

I may be wrong but I think I read this somewhere before on some domaining forum, can't remember which one though.

and she couldn't WIRE it directly to your account?

it takes up to 4 weeks before you get your cash with godaddy domainsales

I think GoDaddy takes a % also, that's going to be one expensive money transfer.
Why didn't you sell it direct to her through escrow dot com.

newbies and their "grey area" questions trying to outwit the system.


I love gfy

Godaddy takes a commission of up to 30 percent on domain sales (ususally the seller sets the commission, if they dont 30 is default) and it can take a while for the payment , they will send you a check it can be up to 90 days later.

Hope that helps.

:uhoh much worse than what I was expecting. Sorry to hear that MyCamProfile, I take it's too late to back out?

lol funny post OP .... dont know what to say? good luck?

when its over 2000 dollars godaddy uses escrow.com and you can get paid as soon as the transaction is closed.

When escrow is used do Godaddy still pay you by check ? the reason I ask is they told me all transactions are paid out via check and godaddy checks can take quite a while to arrive in my experience.

$4200 is a great price. Congratulations.

GoDaddy does not take 30%! The GoDaddy Auction Fees are 5% (if sales price is under $1000) and 7% (sales price of $1000+).

she should've wired it to your bank directly

when godaddy uses escrow.com, its escrow.com who will pay you. they can pay via check or bank wire. but its not true that godaddy will only pay by check. i get paid to my paypal.

Why would you pay godaddy a %, I'm sure she is able to do a wire from an Indian bank to yours.

this thread has teh lulz all written over it.

someone that lives in India (a country that LIVES OFF ONLINE BUSINESS AND OUTSOURCING and where Moneygram and WU not only are accepted, but are the MAIN WAY OF PAYMENT) will pay $4200 for a domain she doesn't want, the seller decides to sell it via Godaddy because she's a friend (???) and he didn't even read Godaddy's TOS and/or FAQ, so he doesn't know fees, times... absolutely anything!

Then someone who sells domains tells some ridiculous story about 30% fees when even the most retarded person can go to https://auctions.godaddy.com/trpPricing.aspx?ci=12719 and see it's between 5 and 7%

why can't I ever find this kind of people when I make business? :Oh crap

note: I've a bridge for sale, mint condition, selling cheap. And yes, I can take moneygram and WU! :thumbsup

I've sold domains through escrow. Never had a problem, but it usually takes a few days for everything to get cleared.

But really... it's explained pretty clear on their website and you can follow the process step for step.

And if you do it via GoDaddy, they pay via escrow and not to you directly - at least that's how the escrow system is setup.

Look at my post ! did I mention AUCTION ?????? I didnt see the OP mention AUCTION you idiot....learn to read and not assume !

I was referring to when they do a private sale for you via Premium Listings etc...

Godaddy Terms :

1.Premium Listings for non-trademarked names only. Trademarked names and trademark misspellings will not be accepted.

2.Upper limit is $99,999

3. GoDaddy.com mails the proceeds** of Premium Listing sales in the form of a check, within 45 days after the end of the month in which the domain is sold.

4. ** Minus a commission fee of 30% of the sales price


This is why I always recommend people use a broker for buying/selling domains it seems a lot of people think they are instant experts on the subject.

what was the domain?

I will handle this for you. Tell her to get $4200 in cash and meet me at the airport. I will fly there and pick it up.

Ask her to directly wire it to ur a/c and then u can do the transfer

Be careful. If you are going through the motions of a sale just to send money, it could be construed as money laundering.

Be careful, very very careful.

http://en.wikipedia.org/wiki/Money_laundering

Actually people in India cannot SEND Western Union they can only RECEIVE for the person that posted that idiotic comment, unless we are family members and we are not. I cannot receive a wire because I just have a netspend account and they do not accept bank wires.

We done it through Escrow, not godaddy. I did actually read up on the fee's after I posted this and done it that way.