ESCROW AT SOMBRERO

With Sombrero's Escrow Service, buying and selling a domain is 100% safe. For buyer AND seller!

 

How does it work?

What are the benefits?

ICA Bronze member 2017

Escrow Overview

Using Sombrero's Escrow Service is simple, safe and cost-saving.

Our Escrow Service allows buyer and seller a safe transaction of domain name and purchase sum for domain sales that have already been agreed upon. The best is, we don't care how and where both parties have agreed upon the conditions of the sale. Whether you negotiated by phone or email, whether you used our sales platform or someone else's: of course you can use our Escrow Service to handle the most important part of the deal - the transfer of money and domain.

As your escrow agent, we take care of the purchase sum until the buying party has full control over the domain, for the security of both, buyer and seller.

The buyer does not run the risk of losing his or her money without having received the commodity - the domain. We secure the purchase sum until the buyer has confirmed the domain transfer.

The seller, on the other side, does not run the risk of transferring the domain without being paid out the agreed amount of money. We have the buyer deposit the full purchase sum inclusing possible escrow fees on our separate escrow account even before the seller hands out the necessary data for the domain transfer.

 

Start

All you need is both parties' email addresses, the domain name and the agreed sales price to start our Escrow Service. If you prefer, the whole transaction can be carried out in USD too. Setting up a regular customer account is not required.

 

Confirming Your Data

Upon starting the escrow process, both parties receive an email stating the necessary steps, including a link that provides access to our escrow system. Please follow the link, fill in your contact data, and accept the Terms and Conditions. On your status page you can check out the current status of the escrow process by following the link included in each of our automatic emails to you.

 

Payment

Once both parties have completed the first step by confírming the transaction, the agreed purchase price and the escrow fees, the buyer receives a payment order about the purchase price and, if applicable, the escrow fees to be paid, and wires the purchase sum to our escrow account.

 

Domain Transfer

After Sombrero.de has confirmed the receipt of payment to the escrow account, both parties will be informed via email and asked to start the technical transfer of the domain. Where necessary, please contact your registrar about the required steps, as there may be different procedures depending on TLD (top level domain, e.g. .de or .com ) and registrar.

 

Pay Out

After the domain has been successfully transferred the buyer will have to confirm the transfer via the status page. Only after Sombrero.de has checked the owner change of the domain via the whois entry, the purchase sum will be paid out to the seller. Where applicable, Sombrero.de will deduct the seller's share of the escrow fees in advance. The payout completes the escrow process.

If the domain transfer fails, the buyer will be reimbursed with the full amount, including the escrow fees - so you only have to pay when the domain ownership has been transferred into your possession.