domain reselling process

financedomains · Jan 16, 2003

How do you resell? Do you use an escrow service? How is the buyer assured they will cleanly get the name transferred to them?

Can you elaborate? Point me to a FAQ or site?

Thanks...

Bob · Jan 16, 2003

Hi Finance. Welcome to DN Forum.

When you sell a domain name, you transfer all right and obligations to the new owner unless otherwise specified. You may go through an escrow service if you wish. This usually depends on how comfortable the buyer is with trusting you. I have doen escrow for $50, while I have done sales for $3000 without Escrow. It depends on the level of trust between the buyer and seller.

The only way for the buyer to protect themselves from a loss of money is to go through Escrow. This does not guarantee the transfer of the name. Once, I sold a name and went through Escrow. The buyer backed out, so I was left with no sale.

Best of luck!

-Bob

wendat · Jan 17, 2003

Another way to do it, is to provide enougt material to the buyer for him to be able to make a legal action against you if you do not delivery what he bought.
It might be enought for a buyer to thrust you.
I simple way to do it is to mail, fax and/or send an email (from a pre-verified valid email address)
an invoice or similar document, proving that you just sold the property.
make sure both names are on the document, including full address, phone etc.
A witness would be a good add to it
and a copy of your driver licences numbers. etc.
Much cheaper than Escrow and it should work many times.
Never delivery before getting the money.
I hope this help a little.

wendat · Jan 17, 2003

What is working very well also, for larger amounts and international transaction, is the "letter of credit".

This is a letter from his bank that certifies he has sufficient fund in his account and the bank warantee the payment.

Then, If I am not wrong, the bank freeze the money until the customer confirm he got the product.
Then the money is wired into your account by the bank.

A letter of credit is secure and strong enought for you to go in your bank and get a loan with/on it.

The letter of credit would be insignifiant for small amount transaction.

I am not a professional and this is just a bit of information intented to help.

financedomains · Jan 17, 2003

Thanks Bob and wendat! The info helps... I suspected that all you domain pros would have developed a more sophisticated method of payment and transfer.

Imagine that... business conducted on good old fashioned trust.

Refreshing!

DRS · Jan 17, 2003

Originally posted by financedomains
How do you resell? Do you use an escrow service? How is the buyer assured they will cleanly get the name transferred to them?

Can you elaborate? Point me to a FAQ or site?

Thanks...

Find a Registrar at http://www.greatdomains.com - A better way to buy and sell domain names.

Good luck!

EM @MAJ.com · Jan 21, 2003

Originally posted by financedomains
How do you resell? Do you use an escrow service? How is the buyer assured they will cleanly get the name transferred to them?

Can you elaborate? Point me to a FAQ or site?

Thanks...

Read this article for additional information.

http://www.needguide.com/live/modul...e=article&sid=185&mode=thread&order=0&thold=0

and let me know how will I be able to assist you. Don't hesitate to send me pm.

regards,
tw