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| Domain Newbies New to domain names? Have your questions answered here. |
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| | #1 (permalink) |
| New Member | Help! I need to collect from a sale... Hey all, I recently closed on my first real sale and it is for $500...the buyer wants to just use pay-pal. What can I do to safeguard myself? Do I need to wait a few days after he deposits the money to transfer the name to the buyer?? Thanks for any help, |
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| | #2 (permalink) |
| MediaWizard™ Team Leader | Bottom line is Paypal can withdraw the funds at any time, specially if the person uses a credit card to pay. Safest option would be escrow.com - but at $500, if it is a verified account, you could wait for 72 hrs before you transfer. Hope it works out for you, congrats on your sale.
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| | #4 (permalink) |
| Recovering Jerk Forum Moderator | First of all check out the buyer. Does he have a good history as a buyer/seller? I normally do paypal transactions up to $5000 with a members with good history of large transactions. I normally judge by that. If a person is new..I am only willing to take a small chance of $100-$200 at most...and normally I find a way to protect myself like not changing whois for 60 days to make sure payment is legit. I have even turned sales down in that range simply because buyer was unknown. I refuse to put myself at risk. Goodluck.
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| | #5 (permalink) |
| Senior Member | For that much money NO WAY i would use paypal. go for esrow. But, if you have to use paypal, than wait until you will withdraw money from paypal into your bank account, and only then give domain. I would even delete my bank account info from paypal after getting money on bank account.
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| | #7 (permalink) | |
| DNMedia.com | Quote:
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| | #9 (permalink) |
| Senior Member | For safety, I would suggest you use Escrow.com. There's a link on the website that tells you how escrow protects the buyer and seller. Try to talk the buyer into sharing the escrow fee 50%-50%, because both of you enjoy this benefit. If buyer doesn't want to pay, then you can absorb the fee. I think for your amount, it's somewhere between $25 to $35. |
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