Got an offer, buyer wants to pay via Network Solutions!

[htmlindex]

Firstly, this will be my 1st real sale besides the few dollar sales I've made, as I've just been building up my portfolio.

Been in communication with a buyer who enquiried via my ParkingPanel page for the domain LearnToTrade()net. He made an offer of $200 after I asked him what's the maximum that he'd be willing to pay.

Apparently he just bought the domain www.learn-to-trade.net and want to redo that site with some original investment research. He said his main site is www.fundpickr.com

After posting in the appraisal section & getting nearly everyone say take the offer & run, I replied:

Thanks for the offer of $200, but I feel that it's a bit low for me to consider selling this name. I would consider selling it for $350 as this name has a lot of potential to it. Also, any transaction fees in the payment method, if any, to be paid by the buyer.

To which he said:

If $350 is OK please respond via network solutions.

1. I've been doing a bit of research on this guy from the name he supplied in the email, which is the same as the guy featured on the videos on his main site www.fundpickr.com. Did a Google search on his name, it seems that he's the Director of Research of TheStreet.com Even though he said he's not a corporate buyer, do you think he might be?

2. What would be the best way of handling the transaction? I thought Network Solutions was a domain registration company. How can the transaction be done with them? How would you complete the transaction, would you suggest doing it via Paypal or Escrow.com?

 

[HBK216]

Whatever you do, do not handle this transaction through Paypal. I would suggest some sort of Escrow service whether it is Escrow.com or Moniker's service.

 

[Lemon Jelly]

Why do you advise against PayPal?

 

[DotWeekly]

Why do you advise against PayPal?

Paypal has No Security. Most often, a person will do a charge back after they get the domain.

I have done several transactions thru Network solutions, but they are Very Slow! It will probally take 1 month before you see your payment. I think your buyer would have to send the offer thru Network Solutions, to you, then they could handle the transaction.

Just suggest Escrow.com, Monikers Escrow etc... but leave the option of NSI in, to keep the customer happy

 

[htmlindex]

Thanks for the comments. If doing via Escrow, is there any real difference between Escrow.com & Moniker's Escrow? I remember reading somewhere that Moniker is safe while Escrow.com isn't that safe.

Also, since I registered this name through Godaddy, I can still use Moniker's Escrow, is that correct?

 

[Lemon Jelly]

I was thinking about getting the NoChex merchant account which provides chargeback protection. I like NoChex, not as popular as PayPal though but I can take secure CC payments. I wonder if it would put buyers off?

 

[HBK216]

Thanks for the comments. If doing via Escrow, is there any real difference between Escrow.com & Moniker's Escrow? I remember reading somewhere that Moniker is safe while Escrow.com isn't that safe.

Also, since I registered this name through Godaddy, I can still use Moniker's Escrow, is that correct?

I actually spoke with Escrow.com yesterday over the phone & they said sellers would not get punished for charge backs. I took that as you won't lose your payment so I assume they eat the cost. I could be wrong but that is how I took it when I setup a escrow transaction yesterday.

See if they will use either Escrow.com or Moniker as who really wants to wait so long for money to arrive in your hands. Worse comes to worse offer to pay the fees if he uses your company of choice.

 

[DotWeekly]

Thanks for the comments. If doing via Escrow, is there any real difference between Escrow.com & Moniker's Escrow? I remember reading somewhere that Moniker is safe while Escrow.com isn't that safe.

Also, since I registered this name through Godaddy, I can still use Moniker's Escrow, is that correct?

That is correct. I just did one last week. If the domain is in the 60 day hold, you will have to push it to there Moniker account.

One nice thing about Moniker's Escrow, is they will pay you via Paypal if you would like and Escrow does not offer this option.

I actually spoke with Escrow.com yesterday over the phone & they said sellers would not get punished for charge backs. I took that as you won't lose your payment so I assume they eat the cost. I could be wrong but that is how I took it when I setup a escrow transaction yesterday.

See if they will use either Escrow.com or Moniker as who really wants to wait so long for money to arrive in your hands. Worse comes to worse offer to pay the fees if he uses your company of choice.

Yes, that is the reason for using an Escrow company. They do protect you and that's why you pay there fees. So Yes, you are protected from charge backs when you use an escrow company.

 

[mwzd]

htmlindex - take $350 if everyone is saying take $200 and run...

I don't even bother with what the person who's buying my domain is making, just whether my ROI is worth it. If its a reseller sale an ROI of even 2x is not bad, an end user I generally aim for 30x and settle for 15x IFF I dont want to keep a domain.

I sold a domain for low $xxx which was sold within a month for low $x,xxx. So did it matter to me, not really - I paid $12 for the domain, I'm happy, my buyer is happy and might just be a repeat customer soon...

 

[aussie]

Paypal has No Security. Most often, a person will do a charge back after they get the domain.

I have done several transactions thru Network solutions, but they are Very Slow! It will probally take 1 month before you see your payment. I think your buyer would have to send the offer thru Network Solutions, to you, then they could handle the transaction.

Just suggest Escrow.com, Monikers Escrow etc... but leave the option of NSI in, to keep the customer happy

re- paypal charge back , how does that work as i have sold all my domains thru paypal and no problems , as yet ?

thanks .

 

[bricio]

Thanks for the comments. If doing via Escrow, is there any real difference between Escrow.com & Moniker's Escrow? I remember reading somewhere that Moniker is safe while Escrow.com isn't that safe.

the difference between is regarding the management of the name htmlindex
while moniker does all the procedures with the name (that is yours in this case) sometimes - this is what i read - escrow doesnt manage the domain correctly

so, you could be worried if you were the buyer but as you are the seller and you will do all the correct procedures no worries

 

[htmlindex]

Thanks for all the comments. I am going to email the buyer & say that my preferred method is Moniker Escrow. On their site it says that their escrow fee is $50. Does that mean that if I sell this name for $350, I have to just ask the buyer to pay $400 upfront to Moniker escrow since they are paying the fees or how does this work?

 

[Silhouette]

I thought Network Solutions was a domain registration company. How can the transaction be done with them? How would you complete the transaction, would you suggest doing it via Paypal or Escrow.com?

NetSol brands their very own service as "Domain Name Certified Offer Service®"

http://www.networksolutions.com/domain-name-registration/certified-offer.jsp

Dealt with them once, the buyer initiated all transactions... just followed NetSol's broker's order (email)...
rev. a snail mail cheque after the deal. hasslefree.

 

[sashas]

I haven't used Moniker's Escrow until now, but I've been more than satisfied with Escrow.com. They are very very prompt. Their customer support is top notch, and they communicate very very quickly. While you and the buyer will have to take care of the transfer, I don't believe thats something very complicated.

 

[DotWeekly]

Thanks for all the comments. I am going to email the buyer & say that my preferred method is Moniker Escrow. On their site it says that their escrow fee is $50. Does that mean that if I sell this name for $350, I have to just ask the buyer to pay $400 upfront to Moniker escrow since they are paying the fees or how does this work?

It's the same as Escrow... Tell your buyer, there is a small fee for using the escrow service. I also split fees with the buyer, but that is up to you.

 

[KingDon]

I would go with Escrow.com

 

[mwzd]

I must say, I've had a few transactions at sedo. Both as a buyer and as a seller, both have been flawless.

Their 10% takes a bite but at $350 - point it to them and it only costs $35...

Good Luck

 

[tricolorro]

I must say, I've had a few transactions at sedo. Both as a buyer and as a seller, both have been flawless.

Their 10% takes a bite but at $350 - point it to them and it only costs $35...

Good Luck

:hi:

You mean their $50 minimum takes a bite.

10% or $35 if the domain is parked at Sedo.

Patrick

 

[DnEbook]

I think if you wait 72 hrs , they cannot chargeback at paypal ? is that correct ???
if that's the case ........... get the money , wait 72 hrs , then transfer , not huge fees with paypal about 3% i think

 

[Silhouette]

I think if you wait 72 hrs , they cannot chargeback at paypal ? is that correct ???

anyone can confirm this statement? keen to know too