Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Domain Escrow and other Domain Names topics.
Three's not always a crowd! Domain escrow is a third party agency that agrees to handle your domain name transaction. Confused about how it works? Here's a brief break down.
1. Both parties agree to use a domain name escrow service
2. The seller files to sell the domain by filling out a transfer agreement
3. The buyer is notified that the transaction is pending their payment
4. When payment is made and cleared by the bank, the domain names are released to the purchaser
5. The buyer receives their funds (minus any applicable domain escrow fees)