Purchase domain name agreement?

[Provider]

Hello,

I would like to purchase one domain name for 50000$ and the seller agrees to make a payment plan for me to pay for the domain name 3000$ a month. Are there any agreements that
somebody have that can be shared with me to read? I want to know how similar transactions were handled by other people, and what should be taken into consideration during this transaction,

Thanks

Provider

 

[mazzian]

<edited>

 

[Steen]

This can all be included in a domain transfer agreement. It is easier for the seller to sue you if a promissory note is involved. Does the seller not want any further assurance of your good will?

If not, I would personally have it written into the general sales agreement. This should cost no more than $500 (probably more like $200) to have done by a professional which really would be your best option in such a transaction.


I am not a lawyer so don't take this as legal advice.

 

[Blarian]

I would simply hire a lawyer.. hopefully someone that knows something about the domain industry or web, and have him draft a contract with specific terms. Present those terms to the seller and get him to agree to them in writing via the contract. There are questions you may want to answer such as "when will ownership change?", "what happens if you default and cannot pay" etc..

I'm not a lawyer, this is just my opinion.