Adult Site Broker’s Escrow Process: An Interview with Our Escrow Vendor
Adult Site Broker has been operating for several years and has handled many websites and companies in the adult entertainment industry. Some of our transactions are valued at seven or eight figures. We employ escrow services to ensure the safety of each transaction. Our secure escrow service complies with industry regulations and is openly managed by a renowned law firm.
Escrow for websites is a process used to ensure that both the buyer and seller of a website are protected during a transaction. It involves a neutral third party, called an escrow agent, who holds and releases funds for the transaction. We contract with Greenberg & Lieberman, LLC (G&L), a popular law firm dealing in intellectual property, patents, trademarks, litigation, and arbitration.
The Escrow Process
“Escrow is a procedure in which the buyer and seller place monies, papers, and written instructions with a third party in trust until a set of criteria are met,” says Stevan Lieberman, Esq., a principal of the firm, in an interview with our in-house journalist. Liberman leads G&L’s legal escrow service. Mr. Lieberman explains that escrow of adult properties is much like a real estate or traditional commercial merger and acquisition deal: “The buyer does not provide the seller cash upfront to purchase the property.”
A Simple Process
He adds: “The buyer transfers the monies to an escrow business, which serves as a mediator and confirms that the property’s title is clear and all specified requirements of the contract have been fulfilled. The business pays the Seller and records the property’s ownership transfer to the buyer. This approach safeguards all parties involved. It has the same process as domain escrow and digital assets,” associated with the website assets.
In simpler terms, the escrow process for an adult website typically involves the basic steps:
- The buyer and seller agree on the terms of the sale, including the purchase price and any contingencies.
- The buyer places the purchase price in escrow with the escrow agent.
- The seller transfers the website to the buyer, including the domain name, website files, and any other assets associated with the website.
- The escrow agent verifies that the website has been transferred and that all contingencies have been met.
- The escrow agent releases the funds to the seller.
The escrow process for a website can also include additional steps, such as the transfer of hosting accounts, social media accounts, email accounts, and other assets associated with the website.
Other Considerations Related to Web Escrow
It is essential for both the buyer and seller to clearly understand what is included in the sale and what the process for transferring these assets will be. It’s also worth noting that escrow services can vary; some may use a specialized platform to handle the process, and others may use a legal escrow service. It’s vital for both the buyer and seller to agree on the escrow processes.
“An escrow protects by minimizing the risk prevalent in any web property purchase,” Mr. Lieberman said. “As with conventional escrow, it involves depositing money or assets or both in the control of a licensed independent third party to protect both buyer and seller in a domain name transaction.”
G&L Escrow Fees
“The transaction is completed when both parties confirm that all terms of the escrow agreement have been met, and then the money is released,” he added. Lieberman further explained that the average cost of his firm’s escrow fee is 1 to 3 percent. G&L offers a fee calculator on its website.
According to Escrow Domains, they offer three types of escrow services. The first is basic legal advice with escrow: “quick legal advice on a straight transfer of the domain name (and website content) from the seller to the buyer once funds are secured.” Second is premium legal advice with escrow: “Legal advice on a transaction where [the] seller transfers the domain name to Greenberg & Lieberman, LLC, who will then transfer it to the buyer. Use of specific registrars is required.” The final option is financed legal advice with escrow: “Legal advice on a transaction where Buyer makes the agreed-upon payments while our law firm…holds the domain name(s). Once ED has received and released all required payments, the domain name(s) is/are transferred to the buyer.”
“Let Greenberg & Lieberman handle your escrow,” Lieberman said, inviting Adult Site Broker’s clients to learn more at Escrow Domains. “With almost twenty years of experience providing legal advice, including attorney escrow for both domain names as well as other assets, we can provide you with the knowledge and security to make your transaction a pleasant and smooth experience.”
Escrow Timelines & More Information
Escrow takes time, but the average escrow timeline ranges between 2 to 4 weeks. As is the case with any business transaction, the escrow process can be impacted by various factors. Some of these factors could range from practically anything, from both sides of the transaction in escrow.
These internal and external factors should be considered by both parties and the direct and indirect stakeholders to ensure equitable closure. Greenberg & Lieberman, LLC, is acclaimed for its work in intellectual property and other areas of litigation. Escrow Domains, features all of the information to learn more about the escrow process that the Adult Site Broker team heavily relies on. As an indication of the firm’s reputation, Greenberg & Lieberman was previously awarded an excellence award by Domaining and served as a 2021 bronze member at the Internet Commerce Association. Greenberg & Lieberman also has a distinction for high-quality and robust delivery of their services.
There are many reasons they are Adult Site Broker’s escrow provider of choice. Our CEO Bruce said, “they’ve never let us or our clients down. They always get the job done right and on time.”.
Adult Site Broker has been in business for years. Our team of brokers, led by our CEO and founder Bruce, have facilitated the sale and purchase of AAA adult properties and web domains worth six to eight figures. Please click here if you are interested in learning more about our current listings.
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What Is Adult Site Broker’s Escrow Process?
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