Domain Trading

[SKG]

Would the experts in domain trading share process and steps. I see that a lot of trading is done at NP via paypal. How does this work? Is money sent first and then the seller transfers the domain? How can someone be trusted without using an escow service? Are there other methods people use? I know these are a lot of questions. Please forgive me if these questions are to basic. Thanks in advance for any feedback.

 

[rivux]

Money sent first, domain/site sent afterwards. If its a large sale (for me that means ~2k and up, it will vary greatly depending on the person) then I will use escrow unless the person has a lot of rep on the board. It all depends on what your comfort level is with the person and the amount being sent, check the forum and trader rating to see what kind of transactions they have done in past and if there has been any problems. I wish more people would include the thread url so we could see the transaction size (was it 100np for a sig or $900 for a site?) but not everyone does that so it helps to do a search first to see whats what.

 

[fonzie_007]

Money sent first, domain/site sent afterwards. If its a large sale (for me that means ~2k and up, it will vary greatly depending on the person) then I will use escrow unless the person has a lot of rep on the board. It all depends on what your comfort level is with the person and the amount being sent, check the forum and trader rating to see what kind of transactions they have done in past and if there has been any problems. I wish more people would include the thread url so we could see the transaction size (was it 100np for a sig or $900 for a site?) but not everyone does that so it helps to do a search first to see whats what.

Normally as rivux said $ is sent first, then the domain is pushed. However, sometimes it can be different. On my last purchase, I paid 50% up front. The domain was then pushed to me. And then I paid the other 50%. And voola! the domain was mine.

 

[CrazyTech]

It depends upon the quality of the person that you are doing business with, but in most cases the buyer will send the payment and then the domain will be pushed. The good thing about a forum environment is that there generally is feedback on the user. You'll notice the wonderful little Trader Rating link under everyone's name and avatar. This gives you an idea of the history of everyone.

When you get to larger amounts of money, often people will do what Fonzie did above and split the payment up or they will use a third party system such as Escrow.com. It all depends upon what the parties agree upon. Sometimes you'll even see brokers act as the third party.

As far as other methods you might see wire transfers, western union, online merchants, check/money order, and I'm sure there are others that I cannot think of right now.

 

[SKG]

Great stuff everyone. This really helps. I have not made a trade here yet but just want to be prepared.