question Domain Sales Agreement between Seller and Buyer-side Broker – Will pay lower $XX

[flip]

When you as a broker who represent an anonymous buyer agree to purchase a domain from a seller, do you sign a contract between the seller and buyer-side broker before starting the escrow transaction?

Anyone has such a contract template for a domain sales purchase between the seller and buyer-side broker where the buyer remains anonymous? If your template is really useful, I can offer a small compensation of lower $XX. Just PM me.

Many thanks for any help.

 

[jhm]

If you use the likes of Escrow.com, they accommodate brokers pretty well, keeping things confidential and letting you operate securely...keep it simple. Having a professional contract drafted, I don't feel that's necessary, unless you're dealing in very large sums of money. You run the risk of any "template" not being that strong, and often questionable about how legally enforceable they are. IMO

 

[biggie]

Hi

https://www.escrow.com/broker

imo...

 

[flip]

ok, I understand. I was more wondering if an agreement is made between seller and broker prior to starting an escrow transaction, e.g. that the seller commits to sell the domain given the money is paid or funded to an escrow account within a certain time frame. Well, maybe this is not common, necessary or useful ...

 

[jhm]

ok, I understand. I was more wondering if an agreement is made between seller and broker prior to starting an escrow transaction, e.g. that the seller commits to sell the domain given the money is paid or funded to an escrow account within a certain time frame. Well, maybe this is not common, necessary or useful ...

Whatever deal you're working on should be made as transparent as possible. As a professional broker, you lead both sides to execute the trade through escrow, and state your fee. If they accept your terms, happy days. In reality, a buyer or seller isn't bound / obliged to do anything for you, but the structure at Escrow.com for brokers just helps

 

[flip]

The case I had in mind would be that a seller agrees to sell, then you setup the escrow transaction, the buyer funds the escrow account and after the days passed, the seller changes his mind and does not transfer the domain any more. Well, eventually this is a rare and not a common case at all but that was the background of my question. The enforceability of such an agreement and whether that makes sense is another question.

 

[jhm]

The case I had in mind would be that a seller agrees to sell, then you setup the escrow transaction, the buyer funds the escrow account and after the days passed, the seller changes his mind and does not transfer the domain any more. Well, eventually this is a rare and not a common case at all but that was the background of my question. The enforceability of such an agreement and whether that makes sense is another question.

Well yeah, anything can happen. If both parties are serious then fantastic, but that isn't always the case, and that's just tough. If the buyer has funded the escrow, the seller gets nothing until the domain has been transferred. If the seller doesn't transfer the domain, the buyer gets a refund...plain and simple

 

[biggie]

The case I had in mind would be that a seller agrees to sell, then you setup the escrow transaction, the buyer funds the escrow account and after the days passed, the seller changes his mind and does not transfer the domain any more. Well, eventually this is a rare and not a common case at all but that was the background of my question. The enforceability of such an agreement and whether that makes sense is another question.

Hi

you can't force anybody to sell their domain.
and if you make them feel bound, beforehand, then they may not want to follow thru.

to me, if you're asking such questions, then it appears you may be trying to learn as you go.
one who anticipates failure, prior to, then seeks means to secure success by contract... wouldn't be one i'd want to deal with.

you have to have trust in the parties... if you want them to trust, that you know what you are doing.

imo....