Escrow.com launches Concierge Transfer service
Firm will take control of the domain name ahead of transferring it to the fresh owner with optional service.
Escrow.com has launched a fresh service called Concierge Transfer, in which Escrow.com the will take control of the domain name to complete the transfer.
Similar to how Sedo handles most domain name transfers, the seller will transfer the domain name to Escrow.com’s account at the registrar, and then Escrow.com will transfer the domain name to the buyer when payment is secured.
This eliminates concerns regarding a seller merely changing the whois and saying the domain was transferred, and also eliminates the inspection period.
A lot of people have been requesting this feature from Escrow.com, even though I’ve never heard of someone losing money from the usual direct-transfer escrow service the firm offers. Now clients will have a chance to put their money where their mouth is on wanting this option: as an optional feature, clients will see the cost of this secure transfer as a line item. I’m curious if people will actually pay for it when it’s optional.
Escrow with Concierge Transfer doubles the cost of escrow. On a $5,000 transaction, that’s an added $162.50 in fees. On a $50,000 transaction, it’s $445.00.
A competing escrow service, which has since closed, charged a fixed fee rather than a percentage to handle escrow transfers in this manner.
