Considering paying over $100k for a domain - What do I need?

[john645]

If I was going to buy a domain off of sedo for over $100k, would I need a lawyer or anything? What steps do I need to take to protect myself from any fraud.

john

 

[scandiman]

In terms of the transaction, that is what the escrow is for. You pay Sedo, you get the domain name and then Sedo pays the seller. If you don't receive the domain you get your money back.

Is there some other concern you have such as trademarks on the name?

 

[john645]

No, I just hear about horror stories, don't want to spend a couple hundred thousand on a domain and then find out I did something wrong and got ripped off.

Also, what is the best registar to hold the domain at? Holding a quarter million dollar domain in an account that could possibly be hacked concerns me. Is there any protection to prevent this possibility?

 

[-REECE-]

No, I just hear about horror stories, don't want to spend a couple hundred thousand on a domain and then find out I did something wrong and got ripped off.

Also, what is the best registar to hold the domain at? Holding a quarter million dollar domain in an account that could possibly be hacked concerns me. Is there any protection to prevent this possibility?

You could consider starting up your own registrar. Alternatively, you could look into getting insurance on your domain name, purchasing a computer exclusively for that name (hence no possibility of keyloggers, spyware, etc), choosing a very strong alphanumeric password, using private registration, etc.

Sedo and Escrow.com are both "buyer safe".

 

[john645]

How about afternic, are they buyer safe? And if by some means my registar account was hacked and the domain stolen would I be able to get it back considering they would need to show record of a purchase?

 

[Devil_Dog]

My main concern would be ensuring that the name is in fact for sale by the original owner or that it wasn't stolen.

Check whois history if you have access to see if there have been any strange updates.

 

[scandiman]

I don't know about Sedo but with Escrow.com, if the sale does not go through, the buyer is still responsible to pay for the escrow fees.

 

[sashas]

From what I've heard, Moniker seems to be the most "hacker safe" of the registrars.

 

[DotWeekly]

From what I've heard, Moniker seems to be the most "hacker safe" of the registrars.

I would second that. They have never lost a domain. Not once.

I know you probally won't say the domain, but if I don't ask.... you get the point. Feel free to PM me or one of the other senior members and Im sure we could help you check some things out.

 

[Deaol]

I would suggest moniker aswell, great reps and whenever I have needed a question answered I get a reply within the day, sometimes within the hour.

 

[verbster]

Read the TOS carefully...see what kind of "not responsible...." clauses all the registrars have. If you go with moniker, contact monte, and have him oversee the transfer personally.

I don't know who insures domains...lloyds of london?

Money may not be an object to you, but if you can save 20k by dealing direct with the seller and using escrow.com, maybe it's worth thinking about.

Contact J. Berryhill, Ph.D., a gifted attorney specializing in domain name issues...and ask his advice.

Good luck.

 

[gazzip]

I would think Sedo would be a safe bet, they have handled bigger sales/buys.

I don't know who insures domains...lloyds of london?

.

...Looks like Domaintools does ! Take a peek

"We are the first company and only company that is offering domain insurance".

http://blog.domaintools.com

$500 per year for $500,000 coverage

..........................

There's also a list of stolen domains

BO.com
PU.com
JY.com
Showroom.com
Samantha.com

UPDATE: Here are some more stolen domains:

Newspaper.com
FastFood.com
Right.net


.

 

[verbster]

...Looks like Domaintools does ! Take a peek

http://blog.domaintools.com

Thanks, gazzip....good info.