Clinton, I know (and have read them) that there are plenty of threads on this subject and that I'm not
particularly adding new insight here, so if you want to delete this, no problem.
That being said, because I'm new at this and have basically taken from this forum because I really
had nothing to offer - this is meant for 1st time site buyers, like I was.
First, here's how escrow.com nearly screwed up my deal.
Escrow.com closes their business day at 4:00p.m. P.S.T. - they're closed on the week-ends.
I'm in Texas - the seller is in Australia - our days & night are flipped. It's our 1st time at escrow.
To keep it short, the seller had technical problems transferring, and I requested an extension
of the inspection period - but he never agreed - then because things started moving along well,
I was O.K. with that.
I paid the seller late at night for the site I bought , exchanged a couple of emails, and
went to bed.
The next day Ive got 10 emails - the seller was having a panic attack that I'd lied, not paid, and robbed him.
But I only had domain names transferred, and he still had the password in order to transfer
the site files to my host - he could have snatched them back !
When I looked on escrow.com, he was right - there was no indication that I'd paid.
My take on what happened:
Some lame brained lackey stumbled into work at escrow.com, scanned some emails about
extending the inspection period, clicked the equivalent of a Reset button, and negated the fund transfer.
It's worked out, but what a nightmare for both of us !
In short, we agreed on escrow.com because we didn't know of anything better.
But in the 11th hour, there is no protection for either the buyer or seller.
In threads here about escrow, Clinton advises using a lawyer to make payment through
and I think this is one fine idea if your spending a big sum - but if you're dealing with
someone in another country, can they really protect you - or will they just muck up
the deal as is their tendency ?
I'll be buying other sites and I will find another way to go about it (I hope), and report.
In the mean time, if you're just starting, read the threads here and see if you can come up
with an idea for a more secure transaction, and convince the seller of it - I can't express how much this experience sucked.