Hello, I'm selling two websites. Buyer have sent contract to sign and wants to do the deal through Escrow.com. I have few days to do the transfer and I'd like to ask few questions, which are very important for me right now. 1. Could you explain me in few words how to transfer domain names safely? 2. Is it possible if I "open for a transfer" my domains in my current registrars and domains will be transferred to wrong account (hijacker or something)? I've read about this few years ago... 3. What if I will transfer domain names to buyers personal registrar account, which will be on his first name and last name. But in contract he wrote his company name (Bla-Bla-Bla Inc)? 4. Could you read the contract and reccomend me how to improve it so the deal was safe? Thanks in advance. PS: The contract: -------------------- CONTRACT FOR SALE OF 1111.COM AND 2222.COM A)PARTIES Paragraph 1. ____________________ (“Sellerâ€), residing at __________________________ and Bla-Bla-Bla Inc. (“Buyerâ€), having its principal place of business at ……..1st fl., Brooklyn NY 11235, agree on this ______ day of March, in the year 2009, to the following terms: B)SELLER’S RIGHTS AND OBLIGATIONS Paragraph 2. Seller warrants that Seller is the owner of the domain and website 1111.com and 2222.com. Seller agrees to sell to Buyer the domain and website 1111.com and 2222.com through Escrow.com service. All of the website files, code and databases currently located on 1111.com and 2222.com are included in the sale. Paragraph 3. The total price of this sale is $0,000 (Zero Thousand U.S. Dollars). Paragraph 4. Seller agrees to: 1.Conduct the sale through an escrow account at Escrow.com. 2.Pay all of the expenses and fees associated with Escrow.com. 3.Help Buyer with the transfer, including transferring the domain 1111.com and 2222.com to Buyer’s GoDaddy account. 4.Explain to Buyer all basic information needed to update both websites. 5.Help to transfer 1111.com’s hosting account, and 2222.com’s hosting account, where all of the website’s files are located, to Buyer’s name. C)BUYER’S RIGHTS AND OBLIGATIONS Paragraph 6. Buyer agrees to accept the websites and pay for them in full the price of 0,000 (Zero Thousand U.S. Dollars). Buyer agrees to send the amount in full to an escrow account on Escrow.com, set up specifically for this contract for sale, within 7 days of Seller’s completion of obligations in Paragraph 2 and Paragraph 4. D)ATTESTATION Paragraph 6. Agreed to this ______ day of _________________, in the year 2009. By: ____________________________________ (“Sellerâ€) Signed:_________________________________ By: Bla-Bla-Bla Inc. (“Buyerâ€) Signed:
If you're using escrow, it will be very safe. The buyer transfer the money to escrow, they hold it, the seller transfers goods, buyer confirms, and then the money is transfered to buyer. Hope that helps. I can't be of much more help as I only had one big escrow sale which had no problems.
escrow.com is a well reputed company but they are not geared to dealing in websites. I know, I know, a lot of people use them for website transactions but that's highly dangerous (see this) as only the domain transfer is covered by the escrow protection. If you have a domain worth $10 and a site worth $9990 you end up paying escrow fees on $10,000 even though they're only protecting you for $10. 1. For the transfer of the domain name itself - any good escrow company is fine 2. Never heard of that happening. I wouldn't worry about it. 3. Well spotted! Transfer only to the name on the escrow transaction and the email address used for the transaction. If that's a company name then transfer only to the company 4. Unless you are talking significant amounts of money the contract is largely useless as neither party is likely to go to court. However, there is a detterance factor so keep the contract but don't obsess about the wording.