In more than 10 years of using Escrow.com to facilitate both domain sales and domain acquisitions, I’ve come across a handful of situations that required cancellation of the escrow process.
Either as the seller or the buyer, there are valid reasons to cancel escrow; a process that requires the justification of the act.
Here are some of these reasons, as experienced personally:
- The buyer decided to change the payment type from e.g. credit card to wire.
- The two parties disagreed on the terms of the sale e.g. different requirements in the inspection period, splitting of the fees, or how the domain would be delivered.
- There was an error in the email used; either party might require a different account to facilitate the transaction.
- Due to non-payment within a reasonable amount of time.
- Misunderstanding about what constitutes domain ownership: a buyer claimed he wasn’t aware of future annual renewal fees.
- The buyer was a proxy buyer; the sales agreement credentials would not match those of whoever would handle the escrow.
Overall, any issues during the escrow process can be addressed by altering the actions selected, or by contacting customer support. I’ve always found the Escrow.com support to be very responsive and efficient in resolving any unexpected issues.