Itemized list on completing a sale

[startupsold]

Hi, I am looking for the steps on how to completely close a domain sale, can someone show how its done on a bulleted list?.

This is what I have so far:

• Buyer contacts the Seller
• Buyer and Seller agrees to the price
• Seller contacts Escrow service
• What next?

Regards,

Chris

 

[ExpireGuy]

Hi, I am looking for the steps on how to completely close a domain sale, can someone show how its done on a bulleted list?.

This is what I have so far:

• Buyer contacts the Seller
• Buyer and Seller agrees to the price
• Seller contacts Escrow service
• What next?

Regards,

Chris

• Seller/Buyer open account with Escrow service. Usually seller.
• Seller puts forth Transcation details ie Name of domain being sold/price and buyer contact info etc
  
• Escrow contacts buyer to confirm details and sets up an account with them
• Once buyer confirms transaction with escrow along with various details such as split fee variables. Escrow contacts buyer to initiate purchase price proceedings for transfer of funds to Escrow account.
• Seller is notified of previous step and told to wait till funds are recieved in Escrow.
• Once funds are recieved. Seller is notified that money is in Escrow account and to initiate domain transfer as outlined in the agreement with buyer. This process could take hours or usually 72 hours depending on if it's an outright inter registrar push or a direct transfer.
• Once Buyer recieves domain they then confirm with Escrow. Escrow does some due dilligent inspecting that Buyer does indeed have domain.
• Once confirnation has been approved. Seller is notified by Escrow and funds are released in a time alloted manner as outlined by the service in question