How to go about buying a name from someone on here. Contract?

[brianbrytus]

I will be purchasing a domain name for XXX from another namepros member. How should I go about the transaction to ensure that no issues can arise? Should we write out a contract? Or use a service like godaddy auctions or sedo? Thanks

 

[biggie]

use escrow.com or sedo escrow

 

[bmugford]

GoDaddy Auctions is fine if the seller wants to pay a 20% commission

Otherwise like Biggie said, Escrow.com is the way to go.

Brad

 

[Kuffy]

If it's reg'd with NameSilo, they have a fairly inexpensive push with what is effectively an escrow.

I'm starting to think that Payoneer escrow is the way to go if you can't use NameSilo

 

[creataweb]

Use an escrow service or do the PayPal invoice to protect yourself... or use BTC / ETH perhaps.

 

[brianbrytus]

GoDaddy Auctions is fine if the seller wants to pay a 20% commission

Otherwise like Biggie said, Escrow.com is the way to go.

Brad

Thanks. I calculated escrow.com and it would be over 20%. For a $500 transaction it is a minimum concierge of $100 and minimum fee of $25 (it said $31 in the calculator), so $131 in fees for a $500 name. Flippa escrow is something like 12%. How much is Sedo escrow? I just want to be protected. I don't want to paypal $500 and be scammed.

 

[korganian]

If you don't feel like you can trust the other NP member enough to use Paypal, I suggest having them transfer the name to Epik.com and buying through their marketplace. You get the name instantly and they get paid instantly and with only 5% commission if seller takes cash out of their epik account. No commission at all if seller uses funds to pay for other domain related expenses.

 

[bmugford]

Thanks. I calculated escrow.com and it would be over 20%. For a $500 transaction it is a minimum concierge of $100 and minimum fee of $25 (it said $31 in the calculator), so $131 in fees for a $500 name. Flippa escrow is something like 12%. How much is Sedo escrow? I just want to be protected. I don't want to paypal $500 and be scammed.

There is really no need to use the concierge service, especially on a $500 transaction.
Standard Escrow.com works fine.

Brad

 

[brianbrytus]

There is really no need to use the concierge service, especially on a $500 transaction.
Standard Escrow.com works fine.

Brad

I didn't know you could just use normal escrow. I just went to the fee calculator and it included that.

 

[bmugford]

I didn't know you could just use normal escrow. I just went to the fee calculator and it included that.

Yeah, the concierge part is optional.

Brad

 

[maksimfa]

Does the person here have feedback? $500 is a good amount of money, but it is not A LOT.

You can always send the money via Paypal regular purchase.... in which case you have buyer protection.

 

[brianbrytus]

Does the person here have feedback? $500 is a good amount of money, but it is not A LOT.

You can always send the money via Paypal regular purchase.... in which case you have buyer protection.

Rating of 4-0. Just want to be on the safe side. For me it is a lot. Thanks