There is always some trepidation figuring out a new system / process / contract, but it couldn’t have been easier.
Escrow.com’s domain holding escrow is designed to accommodate domain leases or sales with regularly scheduled payments, and they have a stated minimum duration of three months and a maximum of five years.
I had been negotiating the sale of a domain for a few weeks, and my offer to have the buyer spread payments over a couple months was the final piece of the puzzle that allowed the buyer to commit.
In our specific case, we requested only a two month timeframe, and Escrow.com had no problem accommodating it. We agreed to 50% upfront, with 25% 30 days later, and the final 25% 60 days after the initial payment.
As far as the process goes, we agreed to basic deal terms like any other Escrow.com transaction, then reviewed & executed an additional domain holding contract. The buyer sent in their first payment, then I transferred the domain into Escrow.com’s account, and the first payment was then released to me.
There is more hands-on support than a typical domain sale, and they have been very responsive and accessible throughout the process.
The additional Escrow.com cost for this type of transaction is $25 per month, with a $150 minimum, and it’s an insignificant figure if it helps get a bigger deal done, as it did in my case.
All in all, it has been an extremely positive experience. This sale isn’t complete yet, but I have 75% in the bank already, and I couldn’t be happier.