advice I'm going to buy my first domain

[Spike0]

First post here so I hope I'm in the right section.

I'm familiar with owning domains. I've been buying domains for myself directly through domain registrars in the past. Now I'm looking to buy a 4 letter .com domain from someone. We agreed on a price. It's around 4k, but I don't know how to safely make the purchase. The owner seems to be a domain investor with several domains, but I still want to protect myself. I looked at Escrow and the seller said I would need to cover the fees.

I'm looking to understand what the usual process is. Is it the buyer who usually covers Escrow's fees? Is there a cheaper alternative to Escrow? How can I verify the legitimacy of the seller? I'm the one who reached out through their parking page, but I still want to be as safe as possible.

I don't know if it changes anything, I've been running a personal blog on another TLD with the same name now for 7 years, so I'm not buying to resell.

Thank you,

 

[The Durfer]

try dan.com. Its safe and almost everyone here would recommend them. ty.

 

[The Durfer]

Can you share what the name is? Probably not or someone else will bully in with a different price. If its a 4L that is $4k, it should be either a CVCV.com which is consonant vowel consonant vowel, or its a word or a great abbrev of a word. Otherwise you are paying too much.

 

[The Durfer]

Did the seller give you a discount on the original price? If so, he's probably trying to make up for it in the escrow fees.

 

[E. Silvera]

Is it the buyer who usually covers Escrow's fees?

Hi, welcome to NamePros,

This is something to be agreed upon before the deal is closed. It's negotiable, in my opinion.

 

[E. Silvera]

there a cheaper alternative to Escrow? How can I verify the legitimacy of the seller? I'm the one who reached out through their parking page, but I still want to be as safe as possible.

Like @The Durfer said, Dan.com would be a good alternative. The seller would have to submit the lead to Dan.com, and this platform would take care of everything and secure the transaction goes well to both you and the seller. They charge 5 (five) percent of the agreed price.

 

[E. Silvera]

Like @The Durfer said, Dan.com would be a good alternative. The seller would have to submit the lead to Dan.com, and this platform would take care of everything and secure the transaction goes well to both you and the seller. They charge 5 (five) percent of the agreed price.

Dan.com would take your money and the domain, and once they have secured both, they would give the money to the seller and the domain to you.

 

[Future Sensors]

Depending on the exact escrow/marketplace, the total amount to be paid by the Buyer may differ because of VAT added or not. This will depend on lots if variables, but is something to find out in advance.

 

[rh2000]

First post here so I hope I'm in the right section.

I'm familiar with owning domains. I've been buying domains for myself directly through domain registrars in the past. Now I'm looking to buy a 4 letter .com domain from someone. We agreed on a price. It's around 4k, but I don't know how to safely make the purchase. The owner seems to be a domain investor with several domains, but I still want to protect myself. I looked at Escrow and the seller said I would need to cover the fees.

I'm looking to understand what the usual process is. Is it the buyer who usually covers Escrow's fees? Is there a cheaper alternative to Escrow? How can I verify the legitimacy of the seller? I'm the one who reached out through their parking page, but I still want to be as safe as possible.

I don't know if it changes anything, I've been running a personal blog on another TLD with the same name now for 7 years, so I'm not buying to resell.

Thank you,

It sounds like you can use Escrow.com but they want you to pay the fee. Sounds legit. You will have to open a escrow account.

 

[Spike0]

Thank you for all the quick responses!

To answer the points or questions:

1. The domain is CCVV and an important detail (important to me at least), the domain is my last name. I offered 2k about 5 or 6 years ago and they refused. Last year I also sent a 3k offer and they refused. I asked someone else to reach out to them in case they were trying to overcharge me if they noticed it was my last name.
2. Thank you for your input regarding the fees. Considering your comments about me paying too much, I will push for the sell to cover the fees.
3. I looked into Dan.com and it looks great! I'll suggest the buyer to use this, but I don't understand what's the advantage vs Escrow that seems to be cheaper.

 

[biggie]

Is it the buyer who usually covers Escrow's fees?

Hi

i just completed an Escrow.com transaction.
the buyer paid the fee and they used the Concierge service to assist with transfer of the domain.

as said above, buyer can pay fee or seller can pay fee or you can split fee between the two of you.
it's all negotiable.

imo....

 

[E. Silvera]

I looked into Dan.com and it looks great! I'll suggest the buyer to use this, but I don't understand what's the advantage vs Escrow that seems to be cheaper.

I am not familiar with Escrow.com yet, perhaps regular fees are minor than Dan.com (I have to check). But I think their "concierge" service, which is optional thus charged extra, is included in Dan's five percent.

Please don't take my word only, the other members replying to this thread have more experience than I have.

 

[The Durfer]

dont get me wrong, im not against escrow.com. Ive used them before also and they are great as well. Do your own investigation if you have to pay for the fees, if dan.com is better for you or escrow.com. I just thought you were using the word escrow not talking about escrow.com.

 

[The Durfer]

point is, there are all kinds of escrow platforms. Choose the right one for you and the seller will probably cooperate because he wants 4k. Afternic, sedo, dan.com, escrow.com, are there any others? ty.

 

[The Durfer]

the only thing is, i wouldnt do a crypto transaction unless the platform doing the escrow takes crypto specifically. Like for example, sure lets do escrow but pay me on another site with crypto, then the seller cancels the transaction on escrow and you're out your crypto.

 

[Spike0]

I see, thanks for all the insights, it's truly helpful!

 

[Mister Funsky]

Hello and welcome to nps! A 50/50 split using escrow is an option...also having the seller use godaddy checkout link and the commission would be 5%.

 

[Daniel Owens]

Seems rather crazy of seller to not pay fees. So greedy but if you can split 50/50 it would make some sense. I usually pass on jokers that expect me as buyer to pay fees.

 

[biggie]

Seems rather crazy of seller to not pay fees.

Hi

if seller pays fee, and buyer backs out of deal, then seller would have to pay that fee.
by "asking" buyer to pay the fee, the seller can be more confident that buyer will complete the transaction.

buyers have paid the fee for all our sales on escrow.com, particularly because it's a domain that they want and because of the "deal" they feel they are getting for it.

imo...

 

[Daniel Owens]

Hi

if seller pays fee, and buyer backs out of deal, then seller would have to pay that fee.
by "asking" buyer to pay the fee, the seller can be more confident that buyer will complete the transaction.

buyers have paid the fee for all our sales on escrow.com, particularly because it's a domain that they want and because of the "deal" they feel they are getting for it.

imo...

On namepros the seller always pays fees. Although you and I differ on this I just feel if you are making thousands, and you have a strong buyer you should try and find cheapest escrow and pay the fees. What's 2% on a $10,000+ sale how does that hurt seller?

 

[biggie]

On namepros the seller always pays fees. Although you and I differ on this I just feel if you are making thousands, and you have a strong buyer you should try and find cheapest escrow and pay the fees. What's 2% on a $10,000+ sale how does that hurt seller?

Hi

even on NP, i'll ask buyers to pay the fee. you can see this in my sales threads.
if sale is via Escrow.com then buyer will agree to pay fee
if via paypal, when F&F was an option, i would ask them to send payment via that method
without F&F, then i will take the hit on lower priced sales.

i also get sales via incoming email, and even unknown or first-time buyers all know about or have heard of Escrow.com
as part of negotiation, when i agree to a price, i ask buyer to pay that fee.
since those (buyers) feel confident using Escrow.com, then they don't have issue with it and i get full asking price that was agreed to.

imo...

 

[Igor Mironyuk]

Except Escrow.com, is Sedo Escrow. Try them.

 

[enterscope]

Tell us the name after you buy it

We'll see if you got a good deal or not. Either way, welcome to the forum!

 

[MKA]

https://www.escrow.com/fee-calculator

Should be just over $100 + VAT.