The sale of a domain name can cause frustration for both parties involved. This is due to the old dilemma, who should be the first to cross the bridge: the one with the money or the one with the authorization code? CatchTiger does more than provide a platform to sell your domain names. We also provide assistance during the transfer process of domain names. In the world of domain name auctions this is called an ‘escrow service’.
As an escrow service provider, we are the third party during the transaction between the buyer and seller that ensures that everything is executed successfully. Only when we have received both the authorization code and the payment, we will transfer it to the relevant parties. While the transaction is ‘in escrow’, the transfer can be safely carried out without bearing the risk of losing your money or domain name. This way neither parties have to worry about taking the first step.
How does the escrow service of CatchTiger work?
At CatchTiger, we have ensured that selling and buying domain names is a very easy process. On our platform, the party interested in a certain domain name is the one to initiate the transaction. After the buyer has shown his/her interest, the seller will be notified. Now both parties are involved in the trade and require a trustworthy relationship as they are dependent on each other. After they’ve agreed to the terms, the buyer will pay CatchTiger: the escrow service provider. From this point on, the steps are as followed:
1. The seller hands over the authorization code to CatchTiger, who will then make sure it works as intended.
2. Once we have received both the payment and the authorization code and processed them, we will forward them to the appropriate parties.
By providing this escrow service, CatchTiger can always guarantee a secure domain sale without any frustration whatsoever.