Sales without escrow?

[ehdonhon]

So far, all of my sales have been with SEDO, which provides an escrow service. That is.. they hold the money until the domain has moved and then they pay the seller. Both the seller and buyer know they aren't going to be ripped off (with the money, anyway)

But I'm curious how people typically handle private sales? Is it normal practice to have the buyer just "trust" the seller?

Also, do people usually have their own sales contract, or at least a set of disclaimers that they use for their own private sales?

Thanks for the advice.

 

[typeins]

Never had a problem with a sale ever, i have used escrow.com for larger sales.

Generally most smaller sales have always just been done via paypal / wire whereby the name transfer is done apon receipt of payment.

 

[Mattius]

Never had a problem with a sale ever, i have used escrow.com for larger sales.

Generally most smaller sales have always just been done via paypal / wire whereby the name transfer is done apon receipt of payment.

Im in the middle of my first sale right now Unfortunately by the time the afternic fee is taken out, i aint got much left over but ah well...profit is profit.

Im certain paypal is the next most common practice and i have bought a couple through paypal, again never had a problem but i wouldnt rate it as secure.

 

[Anthony Ng]

But I'm curious how people typically handle private sales? Is it normal practice to have the buyer just "trust" the seller?

Also, do people usually have their own sales contract, or at least a set of disclaimers that they use for their own private sales?

Yes, it's a rule of thumb among domainers that the buyers pay first; so it's a good idea to build your reputation as a seller and/or get some referrals. For relatively smaller amounts (like low hundreds, not to say sub-hundred), escrow significantly lowers the profit margin. But for 4-figure transactions with total strangers, the cost is well worth. The same applies to any contract or disclaimer.

 

[Sarah]

.

Late last month I had a $15k sale with a pharmaceutical company. They simply wanted me to sign and fax them a contract , then they wired the funds into my bank account before I transferred the name to them.. Effortless.

Here is the contract I always use, it's from TimothyWalton.com who is a great internet attorney.. You need adobe to download the contract:

http://www.timothywalton.com/DNSK.pdf

And here are many many other domain contract forms ( its amazing what you can find on google

http://www.lookabout.com.au/promo/doorway/domainnames/agreement-domain-name-purchase.html

Good luck

 

[WebCat]

Excellent question, ehdonhon !

I agree with Nameslave- smaller transactions can and should be handled by email and a service like Paypal. But for sales over $400.00 or $500.00, I would definitely recommend some additional protection, such as Escrow.com or another escrow service.

Once you release control over a domain, it's extremely hard to get it back, and your leverage with the buyer disappears.

 

[Gee]

i trust members of dnforum especially those with posts over 1000

i sold 5 domains here very smoothly without scrow only paypal

 

[WebCat]

i trust members of dnforum especially those with posts over 1000

i sold 5 domains here very smoothly without scrow only paypal

Yes, I would agree, you can trust established DNF members. Those of us who have been around here for a long time have much too much to lose to try and mess around with unethical practices.

Outside DNF- now that's another story!