Help! I need to collect from a sale...

[gramathy2]

Hey all,

I recently closed on my first real sale and it is for $500...the buyer wants to just use pay-pal. What can I do to safeguard myself?
Do I need to wait a few days after he deposits the money to transfer the name to the buyer??


Thanks for any help,

 

[mwzd]

Bottom line is Paypal can withdraw the funds at any time, specially if the person uses a credit card to pay.

Safest option would be escrow.com - but at $500, if it is a verified account, you could wait for 72 hrs before you transfer.

Hope it works out for you, congrats on your sale.

 

[jungle]

I would go with Escrow.com. The "scamming" chances are 0.0000.
Since the company verifies with the Buyer and/or the WHOIS information that the domain is transferred.
So the seller isn't paid until domain name is transferred to the Buyer.
Goodluck....

 

[labrocca]

First of all check out the buyer. Does he have a good history as a buyer/seller? I normally do paypal transactions up to $5000 with a members with good history of large transactions. I normally judge by that. If a person is new..I am only willing to take a small chance of $100-$200 at most...and normally I find a way to protect myself like not changing whois for 60 days to make sure payment is legit. I have even turned sales down in that range simply because buyer was unknown. I refuse to put myself at risk.

Goodluck.

 

[SimpleDomaining]

For that much money NO WAY i would use paypal. go for esrow. But, if you have to use paypal, than wait until you will withdraw money from paypal into your bank account, and only then give domain. I would even delete my bank account info from paypal after getting money on bank account.

 

[gramathy2]

Hey guys,

first, thanks for the replies. Much appreciated. One more question though, ....
How do I go about checking out the buyer? can you do that through paypal...to see if he has a good history as a buyer/seller??

Thanks again

 

[Michael]

For that much money NO WAY i would use paypal. go for esrow. But, if you have to use paypal, than wait until you will withdraw money from paypal into your bank account, and only then give domain. I would even delete my bank account info from paypal after getting money on bank account.

Withdrawing the money and deleting your bank account won't do anything to protect yourself against a chargeback. The best thing to do is use escrow.

 

[Licantropo]

Moniker have a new escrow

Sometimes i do this: Sold the domain, give a paypal account Of THAT domain .. and use the money as quick as possible in redituable things.

 

[PowerUp]

For safety, I would suggest you use Escrow.com. There's a link on the website that tells you how escrow protects the buyer and seller. Try to talk the buyer into sharing the escrow fee 50%-50%, because both of you enjoy this benefit. If buyer doesn't want to pay, then you can absorb the fee. I think for your amount, it's somewhere between $25 to $35.

 

[tryin]

I use paypal and have the buyer put in the notes what domain his is buying and information on what account it is getting transfered too. This way I have proof transaction.