Domain name scam? + Some newbie questions!

[Peteo]

Hey,

I have agreed on a price for a domain name minus the fees to transfer. The seller suggests I could pay via bank transfer, and he is willing to transfer the domain before I pay to show he is trusted. This sent alarm bells ringing as it sounds sort of too good to be true? I mean he is fully trusting me after a few emails.

Transfer sites usually charge a 10% fee and this is quite sizable on this price.

I was wondering what you guys would suggest? Is there something I am missing that may mean this may be a scam or things I should look out for?

Is there a cheaper safe way than a site charging 10% fee?
Seen as this is the first domain I have purchased is it best I use a reputable site and pay the fees?
Any other common pitfalls I should be aware of?
Thanks!

Regards
Peter.

 

[Dotstar]

It depends the price you pay for the domain I think. Sedo asks 10% escrow commission while escrow.com ask approx $175 or so. So if your domain cost $1000 Sedo is cheaper, otherwise ...

 

[nielsencl]

Use Escrow.com if you can. The fees depend on the amount of the purchase and are not too bad. They run from less than 1% to 3.25%.

His willingness to "trust" you could be a warning sign, or just someone who has not been ripped off yet. It's possible the domain is stolen so he is not worried.

Talk to someone else and provide them with all the details. At the very least you need to know who you are buying from and if they can be trusted. You should also get a second opinion if the domain you are buying is really worth what you are going to pay for it...

 

[nightshad]

If it sounds too good to be true, it is. I think it's highly suspicious that he "trusts" you. In any facet of life, and especially in domaining, it's best to trust no one.

 

[RickRaven]

i am also newbie and i am curious what kind of scam it could be. what bad thing could happen after he transfers the domain on you?

 

[nightshad]

i am also newbie and i am curious what kind of scam it could be. what bad thing could happen after he transfers the domain on you?

It's not so much a question of him getting scammed per se...he'll probably get the domain, but as others have said...

1.) It could be stolen, and he'll have to deal with the problems
2.) There could be a legal issue with the domain, and he wants to get out of town, so to speak.

It just sets off sirens when something like this happens. No intelligent person trusts anyone on the Internet, especially when it comes to the transfer of domains.

 

[VisualArtistFrankBonilla]

Hey,

I have agreed on a price for a domain name minus the fees to transfer. The seller suggests I could pay via bank transfer, and he is willing to transfer the domain before I pay to show he is trusted. This sent alarm bells ringing as it sounds sort of too good to be true? I mean he is fully trusting me after a few emails.

Transfer sites usually charge a 10% fee and this is quite sizable on this price.

I was wondering what you guys would suggest? Is there something I am missing that may mean this may be a scam or things I should look out for?

Is there a cheaper safe way than a site charging 10% fee?
Seen as this is the first domain I have purchased is it best I use a reputable site and pay the fees?
Any other common pitfalls I should be aware of?
Thanks!

Regards
Peter.

Have you tried to match his name with some sort of whois, such as Domain Tools: Whois Lookup and Domain Suggestions ? If he is to be trusted, he shouldn't have any problem giving you his name to check. As others have said, maybe it's stolen, or readyto/just expired, but he can still do something with it.
Check any, and all information you can first.

Frank