question Domain Sell & Transfer Process

[Syed Fayyaz Ali Shah]

I have one Domain auctioned lets say i agree price with a buyer, whats next ?
- Would he pay me first, lets say through paypal, then i would give him the authorization code or i have to give him the authorization code before payment ?
- What's the surety that the buyer would pay me once he has the authorization code ?
- Is there any ESCROW service at NamesPro ?
Please bare with me as it is my first time at domain flipping, your help is much needed and appreciated.

Thank You.

 

[Domains - Wanted]

First of all, you need to specify payment terms and mode of fulfillment in the terms of your auction. See other people's auction threads how it's done.

The accepted NP practice is that the buyer pays you first, after which you deliver the domain, either by pushing it to buyer's account with the same registrar, or providing him the EPP code.

It is not very practical to use Escrow for transactions under a few hundred dollars. However, you can stipulate such a requirement or different modes of payment depending on the winning buyer's NP membership status/feedback score.

 

[Silentptnr]

Step 1 - agree on price or highest bidder wins auction. Seller usually sets the terms for payment and transfer
Step 2 - buyer pays seller based on terms set by seller
Step 3 - seller transfers domain or provides auth code based on terms of transfer

This applies to domains sold/auctioned on Namepros. It is highly recommended that for amounts in excess of $500 that an escrow be used. You can search the forum for reasons why.

 

[Silentptnr]

I'll also add that on NP, you should peek at the buyers trade/feedback score, etc.

 

[namelancer]

On Afternic and Sedo there resources that describe the salers fulfillment process in detail (incl.Q&A section).
In short, with a BIN (buy it now price) where there occurs a simultaneous transfer of funds/title of ownership the process is largely automated ensuring protection for both parties, while in cases of manual transfer the steps are aided by involvement of an authorized agent (Afternic) or an escrow service (Sedo, Uniregistry). Then there is an option of deliberating on a price via negotiations/best offers initially and settling on a BIN option upon reaching a mutual agreement between the buyer and seller.

 

[Syed Fayyaz Ali Shah]

Step 1 - agree on price or highest bidder wins auction. Seller usually sets the terms for payment and transfer
Step 2 - buyer pays seller based on terms set by seller
Step 3 - seller transfers domain or provides auth code based on terms of transfer

This applies to domains sold/auctioned on Namepros. It is highly recommended that for amounts in excess of $500 that an escrow be used. You can search the forum for reasons why.

Thank you Silentptnr for really quick response. it would be a real favour if you could please suggest an ESCROW service.

 

[Silentptnr]

Thank you Silentptnr for really quick response. it would be a real favour if you could please suggest an ESCROW service.

Alot of people including me find escrow.com to be most reliable. There is also dnescrow, but I haven't used that one.

 

[Domains - Wanted]

@Syed Fayyaz Ali Shah

The best way to start is to take part in an ongoing auction as a buyer and win a domain - if the price is acceptable to you, that is
This would give you valuable hands-on experience and understanding of the process from a buyer's perspective. You can later start selling by flipping the domain, that is offering the same domain for sale (with no guarrantee you will make a profit or break even, of course).

Good hunting and good luck with your auctions!

 

[ChelseaDott]

How do we transfer the domain name?

 

[Domains - Wanted]

How do we transfer the domain name?

Are you asking about a transfer-out to another registrar or push to another account within the same registrar?

 

[ChelseaDott]

Are you asking about a transfer-out to another registrar or push to another account within the same registrar?

I'm sorry, but I don't understand what you're saying. Like suppose I have a buyer ready. He has to be with the same registrar as the domain is?

 

[sophia davis]

use escrow

 

[Domains - Wanted]

I'm sorry, but I don't understand what you're saying. Like suppose I have a buyer ready. He has to be with the same registrar as the domain is?

There are 2 ways of finalizing a sale:

1 - you push the domain to the buyer's account - if he happens to have an account with the same registrar or opens one for this purpose,

or

2 - you unlock the domain and provide its EPP code to the buyer, who then initiates a transfer to his preferred registrar from his end.

NEW since December: in both cases, after the push or transfer is completed, you will receive an email from the buyer's registrar asking you to approve the change of registrant name and contact details (assuming that the buyer modifies said registrant details, which is practically always the case)

use escrow

This is another option, that is to finalize the sale using escrow (third party, trusted intermediary). The process differs depending on escrow provider. If you use escrow with the concierge option, you will be asked to push the domain to the escrow company account at your registrar (they have accounts with practically all major registrars - same as most pro domainers)