Experince in $xxx,xxx deals?

[John Baron]

does some one here have experience in $xxx,xxx sale to a big company ?

can you share your experience ? did u use lawyers ? certain documents?
etc...

thanks in advance

 

[mark]

haven't sold one for that amount (yet) but have sold on sedo, which you can find here: http://sedo.com If you already have a buyer they charge 3% of the gross if you just want them to handle the sale and transfer (escrow); If are looking for a buyer for a $ss,sss sale they will have to appraise it before it is listed at that price or you can just put it under make an offer and have a minimum offer set at $10,000. They will charge you 10% of the gross if it is offically listed for sale on their site. (after sale and will deduct from the proceeds before you receive them)

 

[Mike Cruz]

If you would like to experience a $xxx,xxx sale, I have plenty of domains that I have no problem selling for $100,000 (don't worry, I will cover the escrow fee's)

/sarcasm

Sorry I can't help ya :/

 

[BobDiGiTaL]

I would use http://www.JohnBerryhill.com
we used him for a 700K deal.

 

[Dale Hubbard]

I would use http://www.JohnBerryhill.com
we used him for a 700K deal.

Absolutely. Don't do any deal like that without lawyers. Period. I've done two in my time and both with lawyers.

 

[John Baron]

iam trying to understand for what you guys needed a lawyer for? whats the difference from $x,xxx deal that u just use escrow to $xxx,xxx deal ?

 

[Dale Hubbard]

Risk. Simple answer. Have you ever closed on real property? Would you use an online escrow outfit?

 

[mattbodis]

Of domain names?

You don't need anything. Just make sure it goes through Escrow.com. Since you are the one selling, you have nothing to worry about (such as stolen domain name).

And no, you don't need a lawyer..lol. That I will tell you for certain.

 

[shack]

I would refer Escrow.com or Sedo.com on most transactions.

 

[Dale Hubbard]

I can't believe that someone doing a $xxx,xxx domain deal would be daft enough not to use a lawyer. You'd have to be nuts.

 

[DTalk]

Just make sure it goes through Escrow.com. Since you are the one selling, you have nothing to worry about (such as stolen domain name).

For this level of deal, don't use Escrow.com....

Its better to use an escrow service that actually takes possession of both the domain, and the money, as part of the transfer process - and, only releases the domain to the buyer after they receive the money, on your behalf....EG Moniker Escrow, or Sedo Escrow.


Escrow.com does not take possession of the domain - the actual transfer is done directly by the seller to the buyer.....ie there's no ultimate security against a possible fraud attempt.

.

 

[DomainsInc]

I would use http://www.JohnBerryhill.com
we used him for a 700K deal.

jesus. what did you sell for 700k?

 

[midgetlov]

I've brokered deals that large and can tell you it will end up being more complicated than simply using Escrow.com...especially if you end up with a deal where multiple payments are involved. Even if it's something simple like a payment structure of 50% down, and 50% due by a certain date.

Typically the buyer will be using a lawyer and will have some documents put together to ensure everything goes as planned. Knowing this, it is definitely prudent for you to be equipped with a lawyer who is very familiar with contract language and asset sales to make sure you are protected as well.

It's also a good idea to have your own contract prepared as it's never in your best interest to have the other party holding the position of power when it comes to the fine details of the agreement.

Some of the documents/contracts you should expect to see are...
Non-Disclosure/Confidentiallity
Asset Ownership Transfer

Sometimes you may even be asked to sign a Non-Compete depending on the type of deal.

Hope that helps.

Cheers,

-Midgetlov

 

[Deleted member 111831]

I've never done an xxx,xxx deal but if I did I would at the very least have a legal contract and/or bill of sale drawn up and signed by both parties just in case something goes wrong. I wouldn't have a problem using Escrow.com for the actual transfer of funds.

 

[URLtrader]

I can't believe that someone doing a $xxx,xxx domain deal would be daft enough not to use a lawyer. You'd have to be nuts.

Agreed.

 

[FormerDnForumer]

I can't believe that someone doing a $xxx,xxx domain deal would be daft enough not to use a lawyer. You'd have to be nuts.

I've done dozens without a lawyer. That said, if you're an inexperienced domainer, you should have a lawyer. John Berryhill, Zak Muscovitch would be good choices.

And also when it comes to escrow.com, once again, people don't realize that they simply hold funds. You have little legal recourse if something goes wrong, and the transaction can be stopped in the middle for any reason by either party and the aggrieved party has no recourse. In less-than-straightforward transactions or if one party hasn't done deals with the other party, you might need a lawyer.

 

[katherine]

In America you don't do anything serious without lawyers anyway.

 

[Th0mAs_]

do you know other lowyers for domain names ?

 

[Dale Hubbard]

do you know other lowyers for domain names ?

Yes. Stop your PM spamming.