Understanding Transactions Processed by Escrow.com
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Last Updated:
December 7, 2011 2:00 PM
Domain names sold for $1,000.00 or more on Go Daddy Auctions® are processed through an escrow service, and the escrow service subtracts processing fees from the seller's proceeds.
The buyer submits funds to Escrow.com. Escrow.com verifies and holds the funds in a non-interest bearing account, and then notifies the seller. The seller initiates moving the domain name. When the buyer receives the domain name, the buyer notifies Escrow.com, and then Escrow.com releases the funds to the seller. Escrow.com pays the funds by check, ACH, or wire transfer.