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Thread: Escrow Service for Canada

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    Escrow Service for Canada

    Does anyone have a favourite escrow service for buying/selling websites from within Canada? Escrow.com is significantly more expensive for non-US clients than those in the US, and, it doesn't support Canadian Dollars. Ideally I'd like to find an escrow service that is more friendly for Canadians and is also well trusted. I'd like something that supports common payment methods here like Interac and electronic banking Bill Pay (the Canadian system is a bit different than the US one, or SEPA). Also ideally it would support USD from Canadian bank accounts (this seems fairly uncommon).

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    aka "meathead1234" Thomas is a Premium Member
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    Just use Escrow.com and a decent local FX firm. That's what I do (from the UK). Problem solved.

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    I think that's what I'm going to end up doing for now (since I found a site owned by someone in the US I'm interested in); but, it would be nice if there was some way of doing escrow between say two Canadians who would like to deal with Canadian dollars without involving the US and international wire transfer fees both ways. On lower priced transactions it can be prohibitive, when I was searching around it seemed like there were standardized more affordable options for same-country escrow in the UK.

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    aka "meathead1234" Thomas is a Premium Member
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    Quote Originally Posted by timginn View Post
    I think that's what I'm going to end up doing for now (since I found a site owned by someone in the US I'm interested in); but, it would be nice if there was some way of doing escrow between say two Canadians who would like to deal with Canadian dollars without involving the US and international wire transfer fees both ways. On lower priced transactions it can be prohibitive, when I was searching around it seemed like there were standardized more affordable options for same-country escrow in the UK.
    I've seen Agreed.com before who seem to offer a few currencies (including CAD). I have never used them so wouldn't want to recommend them, though. International wire fees shouldn't be too much of a dent unless you're talking small (<$5k deals) in which case using Escrow probably isn't necessary anyway.

    In my experience, I'd say it's highly unlikely you'll find another Canadian with a site you want to buy that is small enough for Escrow fees to be an issue. Of all the problems I have come across when trying to buy/sell a site, that's not very high on the list

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    Administrator Clinton is a Premium Member
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    Quote Originally Posted by timginn View Post
    ...but, it would be nice if there was some way of doing escrow between say two Canadians who would like to deal with Canadian dollars without involving the US and international wire transfer fees both ways...
    I agree. There is no shortage of escrow companies ... and there's no shortage of escrow companies going bust and disappearing with clients' money. So, be careful.

    Escrow.com isn't a company, it's a URL that's on a long lease to a particular escrow company called IES Services. I've always been satisfied with their services but as they are California based I would prefer to not use them in any transaction involving someone based in the US and certainly not if that person is based in California. More here.

    A perfectly good alternative is to use a local lawyer to act as escrow. It'll cost more, but it's a lot safer.
    Find the right business brokers to maximise the value you extract from your business and improve the chances of selling your business.

  6. The Following 3 Users Say Thank You to Clinton For This Useful Post:

    grynge (13 May 2014), Kay (13 May 2014), timginn (13 May 2014)

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