Lease then buy - web services??

[hostmasta]

Hi Everyone,

I have been contacted by an individual who wants to lease (2yrs) and then buy a domain of mine. I have also trademarked the .com.......and this would be part of the deal. (6 figure sum)

What I would like to know is if there are any online services that could handle the contract for me for a fee.

Thanks in advance.
Steve

 

[Theo]

Talk to a lawyer, have a contract drafted. For 6 figures anything else would be dynamite planted in the foundation of this agreement.

 

[hostmasta]

Thanks Acro,

Yeah I have thought about a lawyer.....but I thought it would just make it a bit easier to use a credible online service.

Cheers

 

[Theo]

I believe you can have custom-written contracts at Sedo, not sure if the 10% still applies. It's worth giving them a buzz.

 

[cerno]

If the buyer is only coming up with 10k, for example, for the first year lease payment in advance, or worse yet, you agree to monthly payments, then I wouldn't even suggest you put the domain into escrow, as you seem to be considering as an alternative to a lawyer and contract. You don't want to put a six figure asset into escrow limbo when the other side is putting up a small percentage of its value for months if not years of control.

I think you are best served by paying an attorney with experience in domain matters putting together their "seller" version of their form contract, most attorneys have two versions of every contract geared to protect their client as either the seller or buyer. You wouldn't want a lawyer who isn't smart enough to have both versions. I believe there are some attorneys that advertise domain transaction expertise in the forum, but I am not familiar with them, unfortunately the copyright attorneys that I have used in the past would be simply too expensive, they would want a 10k retainer to start anything. I would suggest you call a few attorneys, explain the situation, and see if you can get them to prepare a contract for you for a grand or two. Promises for the future mean very little, if you are receiving 10k up front, it is a 10k deal, spend based on that basis as long as you are not actually transferring registration of the domain to anyone other than yourself.

If the buyer insists on escrow, I would take the position it is the same as transfer, and in that case I would suggest that the buyer simply acquire financing.

Congratulations on the sale.

 

[hostmasta]

Thanks again Acro......I'll hit Sedo with an email.


Thanks for the detailed reply Cerno.

Yeah I think I will end up going with an attorney (lawyer here in oz). It's going to cost a bit more, but should make the who deal water tight.

As I said the guy wants to lease, then buy later.

I will defiantly be keeping the domain at my registry and in my complete control until I receive full payment.

cheers,
Steve

 

[Soofi]

leasing would mean switching ns at your end and still be in complete control of the domain , so I dont think you have to worry about it as long as leaser is going to buy it at the end of the agreed upon timeframe. Just put that one in on agreement/contract and relax IMO

Good luck!

 

[hostmasta]

Thanks loudbeats for the info.......yeah lets hope it happens.