That is how escrow works in other contexts, like real estate. Either both parties agree, or the escrow service holds it until it is resolved through the courts.
I was in a similar situation to the parent commenter. The buyer had deposited the funds into Escrow.com and received their assets. I notified Escrow.com that the business assets had been handed over and they awaited the response from the buyer - which never came.
Escrow.com sends notices after 3, 7, and 10 days of inactivity.
After 15 days the buyer requested a cancellation and Escrow.com notified me via email that I had 48 hours to provide proof that "the domain" had been transferred or the transaction would be cancelled and the buyer would received their funds back.
My issue was that there was no domain transfer associated with this purchase. The buyer was receiving software that they intended to use under a new brand and thus had no use for the domain.
I raised hell with Escrow.com. Calls, emails, assurances that someone would get back to me. The cancellation came on a Friday and no one contacted me until Tuesday. They called to ask if I had spoke to the buyer and then politely explained that they couldn't do anything because there was no domain attached to the sale.