Selling a website and using paypal?

If i was to sell a website for somewhere between $1000-$5000 would paypal be a good site to use? Or is there a much better website to use so i could prevent them from stealing my files and not sending the money?

Could people with experience please tell me because this will be my first sale for a lot of money.

 

Well, if you intend to use Paypal then make sure you use the Paypal Invoicing System instead of having your customer use the Send Money option.

The best option would probably be to use the escrow.com service.

 

Here's something from escrow. I just joined by the way.

# Length of inspection period : How does that work? He could pay me, take the files and then want his money back?
# Delivery options : None?
# Shipping costs : None?

 

Is there a better section or something? I'm seeking good help! I don't want to do this blind folded.

 

Others make a good points when they mention not using Paypal. With Paypal
someone could always file a dispute or even a chargeback after you've transferred the domain name to them and that could get sticky.

I've used Escrow.com for domain sales and found it to work great. You can specify the inspection period you want.

For domain name sales once the Whois record reflects the information of the new owner the money is transferred from Escrow.com to you.

Additionally if you have more questions about the process you can give Escrow.com a phone call. I did just that for my latest domain name sale and they were very helpful.

Best of luck with your sale.

 

Thanks for your info guant.

 

Hi eddy I'm just curious about what did you said in that post. If I let them use PayPal Invoicing System will they not be able to do charge back? Sorry for this question I'm just new to PayPal..

 

Chargeback is something which is not related to what payment processor you use, as long as credit cards are involved the possibility of chargeback is there. Chargeback is between the card holder and their bank. The bank would make the final decision as to whether the chargeback should be granted or not and Paypal or any other payment processor would be powerless about that decision.

I see that a lot of people here got their Paypal account limited when they receive money through the Email Send method and when that happens, paypal would ask for documentations detailing the sale. To minimize that risk, if you use the Paypal Invoicing System, you are using their preferred documentation and they cannot quite question you about the sale since they are the one providing the documentation. Besides you be in control over the amount, the details and the classification of the transaction when you use the Invoicing System.

It does not however reduce the risk of chargeback. To minimize the risk of chargeback, you need to be sure that the person who is dealing with you is genuine. Do not be quick to accept any paypal orders, call them, email them or take whatever point of communication to ensure that both parties are comfortable to work with each other. Also never deal with anyone who is unverified or address and IP do not tally. Do not deal with kids. Basically do your due diligence and your risk should be minimized. Most times when things are too good to be true, they are usually are.

 

I've repped you for that, thank you.

 

For big amounts like 1k to 5k the best option for me would be using Western Union. The risk of chargebacks is just too great a risk to ignore.

 

yep, i will say use Western union as wel, less problem... but there is a chance the buyer wont agree, WU dont have enough buyer security..

Anyway, its ok to use paypal as long as they are kept in loop why suddenly your receiving big amount of cash..

 

Thanks for the info.

 

use western union or escrow

 

DO NOT USE PAYPAL FOR DIGITAL TRANSACTIONS!!!!

i cannot stress it enough. i've been scammed multiple times by using paypal when accepting payments for digital goods. Use escrow or bank transfer!!!

 

Would NOT use paypal, I honestly love paypal but for any "intangible" items its a horrible, anything internet based can get you ripped off from hosting, domains, files anything that they can not put a tracking number on is a bad idea.

 

Would using sedo.com be good for domain transactions as well?

 

The best choice would be using sedo.com's escrow or afternic.com's escrow, as both don't accept credit cards.
Do not make a transaction directly with buyer, as there's a possibility that the buyer could use stolen Paypal account.
Escrow companies usually hold Paypal payments for a few days to make sure it's not fraud.

 

Since the amount involved is high, I might say call the buyer, confirm their identity.

Best suggestion would be not using PayPal, because even if you deliver or not, chargeback possibility prevails. I'd use escrow.com or using Wire Transfer etc.

If the buyer is a geniune one, he might not trust WU or similar since they do not disclose other party's info and anyone can have the money without disclosing the identity(though a ID is needed, but that isn't enough).

An offline payment mode can work as well for you, you might pay little more fees, but thats better you've something rather nothing.

 

I have a broker who will manage the sale anyway now.

 

Pico, would you mind telling us whos your broker?