Buyer agreed to pay $1K for my domain - Risk it w/ PP?

[cdnbigd]

I've had many transactions (several hundred eBay and a couple domains) through Paypal with no issues. I know there are other threads about which to use: Escrow vs Paypal but those all seem to revolve around domainer buyers and not end-user/end-buyers.

I'm selling a geo+keyword domain to a small business owner in another state. I get the impression that she knows just enough to know that the domain would help her business but not enough to be a scammer & one who will buy the domain then file a chargeback etc.

What would you do in this instance?
- create a paypal invoice with her info, send it, & have her pay me via Paypal. Then I transfer the domain.
OR
- we both sign up for Escrow and use that. (When I was asking for $3K, I said I'd pay escrow fees. She wanted to pay $1K so not sure if she's still expecting me to pay the fees)

I think it's roughly the same fee at 3.5% for paypal or escrow.

Thanks.

 

[Ted.T]

eCop.com is great for small transactions. I don't recommend you to use Paypal unless you are ready to lose the money and domain. Paypal is not covering virtual items.

 

[carob]

You can also do escrow-only on Sedo for 3%.

https://sedo-us1.custhelp.com/app/answers/detail/a_id/661/~/what-is-sedo’s-external-transfer/escrow-service?

I would not chance it on Paypal.
BTW, the virtual goods condition on PP would be in your favour - they can't win on a chargeback on virtual goods afaik, but they can start one and waste a lot of time. All it takes is for someone to change their mind or need the money.

 

[AEProgram]

People here also need to consider the person on the other end, some buyers feel comfortable with paypal for domains more so than websites only domainers know about.

If you are dealing directly with a small business in the usa, canada eur etc thats and not a broker, rep, investor, whatever else your risk is pretty much 0 using paypal. What I could tell you is the minute you tell the avg joe you are not taking paypal, you have a chance of them second thinking the entire deal, and with domains you do not want to wait a second more than you must.

How people act over email is irreverent, do basic verification as to who it is you are dealing with and make it happen, good luck!

 

[cdnbigd]

That's exactly what I was thinking. "Regular" people do not know what "Escrow.com, eCop etc" is and I heard at times the buyer will bail just because they do not want to deal with those sites and nervous about using them. Everyone knows what Paypal is though.

Yes, I'm dealing directly with a small business in Kansas. They are not a broker, rep, domainer, investor etc.

I've done my research and know all the details (business name, contact details, address, phone, email, Whois etc) of the buyer.

People here also need to consider the person on the other end, some buyers feel comfortable with paypal for domains more so than websites only domainers know about.

If you are dealing directly with a small business in the usa, canada eur etc thats and not a broker, rep, investor, whatever else your risk is pretty much 0 using paypal. What I could tell you is the minute you tell the avg joe you are not taking paypal, you have a chance of them second thinking the entire deal, and with domains you do not want to wait a second more than you must.

How people act over email is irreverent, do basic verification as to who it is you are dealing with and make it happen, good luck!

 

[infmoney]

I've done many deals like this with small businesses in the xxx and x,xxx range using paypal and have never had a problem. It would be safer to use escrow though.

 

[4better]

I always see to it that for x,xxx range I use Escrow. Below this range, Paypal comes in.

 

[Soofi]

I would suggest you to go Paypal way by first requesting their Paypal email in order to send them an invoice with relevant sale details mentioned in it. Now once invoice is sent, follow up by requesting them to pay using that invoice ONLY.

I have had so many sales using this method and 0 chargebacks. Recommended way to go about it and Congratulations on the sale!

 

[cdnbigd]

I would suggest you to go Paypal way by first requesting their Paypal email in order to send them an invoice with relevant sale details mentioned in it. Now once invoice is sent, follow up by requesting them to pay using that invoice ONLY.

I have had so many sales using this method and 0 chargebacks. Recommended way to go about it and Congratulations on the sale!

Thanks Soofi

 

[hookbox]

Scammers normally seek out victims not the other way around.

You approached them so the odds are in your favor that they are not out to screw you over.

Most established businesses would in no way shape or form do a chargeback at Paypal. Most people don't even know that you can do that. They would not want to risk the repercussions that you could possible take by defaming them or their business on the internet.

I don't think you will have a problem but do what you feel is right. If you have a bad gut feeling then go with Escrow. If they really want the name they will do an escrow deal no questions asked.

 

[cdnbigd]

I'll let you guys know how it goes. Just waiting on payment via paypal right now. They received my detailed invoice.

 

[cdnbigd]

Her web developer wants me to Unlock the domain & send him the Auth Code. (After I receive payment)

I have the auth code but it says in my GoDaddy account the domain is locked until Oct 27th! Correct me if I'm wrong but this isn't an ICANN lock is it? Prob just a self-imposed GoDaddy lock on 60day or less domains? I'll have to wait & contact GoDaddy in a bit unless you guys have other suggestions?

Thanks!

 

[hookbox]

Her web developer wants me to Unlock the domain & send him the Auth Code. (After I receive payment)

I have the auth code but it says in my GoDaddy account the domain is locked until Oct 27th! Correct me if I'm wrong but this isn't an ICANN lock is it? Prob just a self-imposed GoDaddy lock on 60day or less domains? I'll have to wait & contact GoDaddy in a bit unless you guys have other suggestions?

Thanks!

Explain to her about the 60 day lock and ask her to open a Godaddy account and push it to her new account.

 

[cdnbigd]

Yes, I've let her web developer know that I can either call GD to request for it to be unlocked or simply push it into her godaddy account. (she already has one)

 

[Keith]

Only push to her godaddy account. If you transfer away and Paypal goes wrong you're screwed.

 

[cdnbigd]

Oh, didn't know there was much a difference between "pushing" a domain Vs "transferring" a domain.

 

[Keith]

Oh, didn't know there was much a difference between "pushing" a domain Vs "transferring" a domain.

Godaddy can undo the push if there's a compelling reason to. A gaining registrar will likely reject your complaint.

 

[cdnbigd]

Is there much of a difference if it's the same registrar? Seller and Buyer are both with GoDaddy

 

[Joseph Green]

Godaddy can undo the push if there's a compelling reason to. A gaining registrar will likely reject your complaint.

I've spoken with GoDaddy about this many times, and they will not get involved. They won't even confirm to Escrow.com (a partner of theirs) that you have pushed the domain name to the buyer if the buyer claims that they didn't receive the domain name.

If GoDaddy did get involved, that could have legal repercussions for them.

Do not expect GoDaddy to help you with a sale unless you sell the domain name through their Auctions platform.

 

[Joseph Green]

Oh, didn't know there was much a difference between "pushing" a domain Vs "transferring" a domain.

The main difference is speed. Pushing ("Change of Account") is faster. Transferring a domain from one registrar to another can take up to 7 days from the time the transfer is initiated.