Safely Buying an Expensive Domain

I'm looking to buy a domain name off someone else for a sum of around £1100.

I cant afford to loose the money (who can!) so need the safest way to transfer to protect myself properly. What is the general process for buying a domain like this so i'm sure i have the domain when i give payment or whatever.

Thanks in advance.

 

I have sold some domains in Sedo where they use there escrow service
and I sold a domain In Godaddy where they use Escrow.com service (for 500+$ deals )

But I don't know which is the safest way , in Sedo after they recieve the money
they tell the seller to to start transfer the domain ( some times to there accounts in domains companies )
and they check if the transfer complete they release the money ...
I don't remember Godaddy's steps .

But all will take commission

 

You can try Escrow.com & read the general process here... All the Best!

 

I can confirm escrow.com is the best way to go.

 

The seller of the domain recommended using BACS (?) is this an escrow service? I cant find much info on the site itself. I dont think the seller has done much domain selling either by the looks of things.

 

Is escrow.com used for UK transactions too? Or is there a good alternative for UK payments?

 

yes they can do most of all type of transactions. sedo takes 10% so u need to look which works better for you.

 

The best way is used a third party service such as ebay or sedo.
By this way,you'll not to scare about not receiving payment and same do the buyer.

 

There should be also domain transfer agreement between both party where the registrant should grant of all rights and trademark of the domain name.

 

How do i do this please? what issues can there be with trademarks etc?

 

Use Escrow.com I've used it with a 10k sale as well as a 4k purchase. It costs some money but definitely worth it if you are buying a high price domain.

 

Im the opposite to the op. Im looking to sell an expensive website ($1000). The buyer suggested Escrow.com however I have never used it before. Looking at their site it seems the buyer pays escrow, I send the buyer the site, escrow pay me? What if the buyer says he hasnt received the site? What proof would I have?

Im still new to selling and only sold low value (most expensive being $150).

Any advice?

Cheers, Shane

 

We all handle 3rd party transactions. GoDaddy.com, Moniker.com, Sedo.com, SeizeTheDomain.com and of course Escrow.com

Average overall fee will be about $50 usd. Its up to the buyer/seller who pays this. You can split the cost if you like. It really is a great idea for peace of mind to use an escrow service.

Buyer gives the $ to the escrow service. Once this is confirmed, seller releases or transfers the domain or site.
Honestly buyers have no reason to lie about not receiving the product, becuase the $ has been given up already to the escrow service. Ultimately if there is a dispute, your emails and contact with your registrars stating if the
domains were pushed, will clear things up.

The way we do it ourselves, is our clients transfer files between eachother but Cc us in all the communication. That saves time later if there is any questions.

All the best,

 

Do yourself a favour and use an escrow service that actually TAKES CONTROL of the domain, such as Sedo or Moniker

 

The good news is that from 1 November 2009, the law changed in the UK when the Payment Services Regulations 2009 came into operation.

From that date, escrow services must be registered with the UK Government's FSA and HMRC.
Even better, the FSA lists registered services at http://www.fsa.gov.uk/register/psdFirmSearchForm.do (you must always check the online register, as the number of professional looking fake escrow sites out there is staggering - probably one real site to every 10 professional looking fake escrow sites trying to steal your money - beware !).

UK Government FSA registered escrow services are safe, and money kept with these registered companies is safeguarded by law.
One new safe FSA registered service (TrustedFriend.com) charges only a flat fee of £2.99 per transaction (i declare a vested interest as I work for that company).

Whichever escrow service you use, ensure i) that it is registered with the FSA and not a scammer, and ii) that you get your escrow timing right (ie that money is only handed over to the seller once the domain is properly transferred to the buyer, and money goes back to the buyer only if and when the domain is rejected and back in the full control of the seller). There have been a few posts on other forums where timing has gone wrong in domain sales and despite the use of escrow people have been out of domain or out of pocket.

 

Godaddy, Moniker, Sedo and Escrow are all highly established, valued and trusted brands/companies. They worked hard to become what they are today.
The other one mentioned is not yet established, valued or trusted.

Name dropping without disclosing a vested interest, is more likely to decrease trust and value. (IMHO)

Great information.

Cheers
James

 

Try Escrow service or ebay