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- Dec 26, 2007
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I wish I had the education and backing to start this but unfortunately I do not. The scammer thread is starting to split off into the possibility of a domain escrow service and what it should have.
This is what I've come up with:
Fees:
Anything missing before someone runs off and devolops this?
This is what I've come up with:
- Client verification (buyers and sellers)
- Utility bill (electric, etc..) with all user's current address shown on it
- Billing address must match the utility bill
- Phone call verification or a card mailed to you with a access code (similar to what AdSense just did over the past few months)
- Payment vertification - verify the payment is from a legitemate source as well as they can (Seller's protection)
- Credit card w/ billing zip code as a verification?
- Billing address for the credit card MUST match the billing address on the account
- Bank account's address must also match the billing address on the account
- Domain Verification - verify that the domain is lefitemate (buyer's protection)
- Escrow service has an account with primary registrars (Moniker, GoDaddy, etc..)
- Seller gives the authorization code to the escrow service, when the screow service verifies the payment, they request the domain to the seller's registrar BUT under the escrow's account - fees paid by the seller
- Escrow service verifies the domain is what the seller claimed it to be (Like books.com and not b00ks.com. Possibly even contact the previous domain owner to verify this is the legit owner.
- After all information is verified as legit the escrow service pushes the domain to the buyer and the funds, minus any fees, to the seller.
Fees:
- Buyer pays for the domain transfer fees on top of the agreed price. If the domain sells for $500, then the escrow service will add on $6-$10 for a one year renewal fee (depending on the registrar)
- Seller pays for any transaction fees, whether it is a % of the total sale (minus the reg fee) or a flat rate.
Anything missing before someone runs off and devolops this?