Epik Escrow

How do you collect payment from end users?

Labeled as sales in Domain Buying and Selling Discussion started by Lord Antares, Dec 26, 2018.

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  1. Lord Antares

    Lord Antares Established Member

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    Do you use escrow.com?

    Do you prefer some kind of landing page like undeveloped?

    Or do you just take the risk (with a seemingly reputable company) and transfer the name first and take the payment?
     
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  2. dande

    dande Established Member

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    It depends on the person you're selling to. I made a $36,000 sale last August and the buyer was kind and trusting enough to transfer $15,000 in advance. I pushed the domain, then he made the remaining $20,000, completely cutting off escrow.

    However, some buyers can be so skeptical that they won't trust even escrow. It depends much on the buyer. Use what is okay with the buyer.
     
  3. Lord Antares

    Lord Antares Established Member

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    I don't think the buyers are stupid when they want protection. I'd never pay $15000 in advance; that guy made a leap of faith.

    So the advice is negotiate the payment method with the buyer? Probably sounds right.
     
  4. creataweb

    creataweb Some Guy with Awesome Senior High School Photo VIP ★★★★★★★★★★

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    Undeveloped works fine especially if you have BINs and don't want to deal with transfer headaches (like with NetSol for example.)

    For some, super high priced names or certain scenarios you can use other methods (like some sort of Escrow service, or wire and a legal agreement, etc.)
     
  5. maksimfa

    maksimfa Top Member VIP Trusted Contest Holder

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    Smaller amounts, no issues with accepting paypal.

    Larger amounts you are dealing with purchase agreements and they specify payment, including whether or not you are using an escrow service.
     
  6. wesley sweatman

    wesley sweatman durfer Gold Account VIP

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    im fine with paypal and sedo. :)
     
  7. Lord Antares

    Lord Antares Established Member

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    What is yiur cutoff from small amounts to big amounts? Presumably, you also go first, right?
     
  8. ak4586

    ak4586 Established Member

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    Perfect...
     
  9. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    For smaller sales don't overlook using a registrar marketplace as an option. Even if I don't currently have it listed I often offer that option when contacted. Buyers not domain saavy have more trust in a single established company who can handle payment and transfer.
    Bob
     
  10. stub

    stub Top Member PRO VIP ★★★★★★★★★★

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    Everything goes thru escrow.com with the buyer paying the escrow fees. I almost never sell a domain under $1k.
     
  11. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

    if contacted on a marketplace or landing page service, then you should use their service to complete transaction

    if outside of a venue, then use Escrow.com

    imo...
     
  12. stub

    stub Top Member PRO VIP ★★★★★★★★★★

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    Of course. I was referring to exactly that, for my domains sold personally, and not sold thru any sales service.
     
    Last edited: Jan 3, 2019
  13. mr-x

    mr-x Acme Domains Gold Account VIP ★★★★★★★★★★

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    Private party sales, I send an invoice. 90% of people pay the same day by credit card.
     
  14. RockBros

    RockBros Established Member ★★★★★★★★★★

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    Do you have merchant account or are you sending invoice & accepting credit card payment through a service like PayPal?
     
  15. mr-x

    mr-x Acme Domains Gold Account VIP ★★★★★★★★★★

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    My invoice app is linked to my PayPal merchant account. Occasionally I'll use the PP terminal to process a payment by phone.
     
    Last edited: Jan 31, 2019
  16. RockBros

    RockBros Established Member ★★★★★★★★★★

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    Thanks!
    I recently, opened a PayPal business account and don't recall signing up for and/or applying for a merchant account, but see that I do have a "Merchant account ID".
     
  17. NYJimbo

    NYJimbo Domain Re-Animator

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    If you dont already have it, ask about the "virtual terminal". Its something like $30 a month. I have had it for years and use it for all of my internet business transactions (hosting, domain sales, consulting, tech support).
     
  18. RockBros

    RockBros Established Member ★★★★★★★★★★

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    Thanks, for the heads-up; I'll look into the "virtual terminal".
     
  19. Domainuu

    Domainuu Established Member

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    Thank you so much.You always ask new question, and we all learn from it.:xf.smile:Thanks
     

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