Anyone who has bought or sold on Flippa knows the importance of escrow. Having a secure trusted service to collect, hold and release funds after the sale is critical to a smooth transaction.
For the past 5 years, we’ve had a proprietary escrow service which allowed buyers and sellers to make and receive payments safely. We’ve decided to make some substantial improvements to the service, and with that, we’ve also changed escrow partners. You’ll now have full visibility into the transaction, every step of the way.
We are excited to announce that Flippa is now integrated with Escrow.com.
How it works
The fundamental process works the same:
1) Buyer and seller agree to transaction terms
2) Buyer makes secure payment
3) Seller delivers assets to buyer
4) Buyer approves merchandise and releases funds
5) Seller is paid
The big difference now is that, instead of making payment via Flippa’s platform, both parties are directed to complete the transaction safely and securely on Escrow.com.
Redesigned Sale Completion Area
We’ve also taken the opportunity to redesign our Sale Completion Area. Buyers and sellers now have a cleaner experience from which to communicate with each other, see the transaction status, or request help from Flippa.
A better way to understand transaction status
With our improved user interface, we pull in data directly from Escrow.com, so you know exactly where you’re at in the transaction process at all times. The goal is a reduction in transfer time, so your transaction completes sooner.
Over the past few weeks, we’ve been quietly testing this new integration with select transactions. We are confident that these improvements will make the escrow process dramatically easier for both parties. So over the next few days, we’ll be rolling this out for all transactions.
Thank you for using Flippa!
Stefan Von Imhof
Head of Product