Need a help with completing a transaction.

[Carbill3]

I'm a newbie to this business. I've been in this since June of this year, I own 20 domains now. I've had an offer of $175 that was retracted. I've had an offer of $300 that was retracted. I've had an offer of $2,000 was retracted. All transactions were used by escrow.com. I'm pretty familiar how to use it.

I now have a $60 offer that I want to complete using PayPal. This is my 1st time doing this, & I would like to know the proper protocol. Do I ask for the money 1st or start the trasfer 1st? How does the trasfer work? If it matters, they are registered through 1&1.

I already sent a PM asking for the deposit 1st, but now I'm having 2nd thoughts if it was the right thing to do. I need a little bit of help here. Thanks.

 

[lothos]

I always ask for money up front with PayPal.

I've never used 1and1 because of the bad rep, but I've heard transferring out of there is more difficult that other registrars.

 

[RazorNF]

Yes, get the money first.

I'm surprised at all the retracted transactions you've had. But even with Paypal, there's no guarantee either. They can always dispute the charges.

---------- Post added at 04:52 PM ---------- Previous post was at 04:50 PM ----------

Here's instructions on how to unlock and get the auth code at 1&1.

[ame="http://www.youtube.com/watch?v=07zWKWiAjeM"]How to transfer a domain name from "1&1" (1and1.com) - TucowsDomains.com - YouTube[/ame]

After you have payment, you can give the auth code to the buyer.

 

[Carbill3]

I've never used 1and1 because of the bad rep, but I've heard transferring out of there is more difficult that other registrars.

I had no idea about the rep. The main 2 companies I know best are 1&1 and Godaddy. Most of my domains are registered at 1&1. What company would you recommend & why?

---------- Post added at 01:25 PM ---------- Previous post was at 01:17 PM ----------

I'm surprised at all the retracted transactions you've had. But even with Paypal, there's no guarantee either. They can always dispute the charges.

I think I'm on track for another retraction. This offer was the highest bid on my auction thread 2 days ago, & I have yet to hear back from him.

Dispute the charges? Does that mean it'll be possible to get their money back? Will transferring the money to my bank account prevent that?

And did I read that right? You can't transfer a domain within 60 to 90 days of registration? Is that a rule for all registrars?

By the way, that video was extremely helpful. Thank you.

 

[RazorNF]

Yes, Paypal doesn't protect you when it comes to intangibles like domain names. So yes, after they get the domain, a month later, they can dispute it with Paypal.

However, for low $ amounts, it doesn't make sense for escrow, so that's just a chance you take.

That's were user history can help. If you look at some of the auction threads, some sellers stipulate the bidder to have certain trader rating and/or an account at least x months old.

btw, if people are not following through on their winning bids, you should reporting them to the mods and if it still can't be resolved, give them a negative trader rating as a warning to others.

 

[Carbill3]

I will definitely keep all this info in mind. This was some very helpful information.

Also, is that 60 to 90 day rule an actual standard? Or is like when they say "24 to 48 hours" for something, but it only ends up taking an hour or so?

And are there any other forums like Namepros out there for me to advertise on? I tried DNforums but they charged me. I looked at DomainState, but it looks like sellers aren't having much success. Buyers are being HAMMERED with offers though. Are there any others you, or anybody else, know about?

 

[Name Trader]

I wouldn't use paypal unless there is some degree of trust from the buyer, or you are prepared to take the risk that the transaction might be reversed after you have transferred the domain.

 

[Carbill3]

I wouldn't use paypal unless there is some degree of trust from the buyer, or you are prepared to take the risk that the transaction might be reversed after you have transferred the domain.

What method would you suggest for small purchases? Granted, I don't know this potential buyer, or any buyers at that matter. The escrow fees at escrow.com will drastically reduce the price. I definitely don't trust giving out my account info. What is a good suggestion?

 

[Name Trader]

I would use Escrow with the buyer paying the escrow fees. Where did you sell the domain?

 

[Carbill3]

I would use Escrow with the buyer paying the escrow fees. Where did you sell the domain?

He was the highest bidder in my auction thread I posted a couple days ago here. I sent him a PM, but I have yet to hear from him.

I already gave him my PayPal email. Should I suggest escrow even though it'll cost him more?

 

[RazorNF]

Escrow on $60? I personally don't think it's worth it, but up to you if you are that concerned.

What was the payment terms you stipulated in your auction post? Does the buyer have a good trader rating?

Changing the payment method after the auction started would give the winning bidder legitimate reason to pull out. Plus making him pay the escrow fee would turn the $60 buy into $85

 

[GoKaizen]

What about eCop or MiniEscrow? Those might be good options for $60.

You might want to consider transferring your domains from 1and1. They might sell easier. Name.com is having a $6.99 transfer special for new customers which ends tomorrow.

 

[Name Trader]

If the winner was a NamePros member, then I would inherently trust him with paying by PayPal, unless he had a negative in his TR's.

 

[Carbill3]

If the winner was a NamePros member, then I would inherently trust him with paying by PayPal, unless he had a negative in his TR's.

Well he is a NP member, but he is a new member. I wonder if I should be a little leery. I still haven't heard anything from him either.

---------- Post added at 06:59 PM ---------- Previous post was at 06:53 PM ----------

What about eCop or MiniEscrow? Those might be good options for $60.

You might want to consider transferring your domains from 1and1. They might sell easier. Name.com is having a $6.99 transfer special which ends tomorrow.

Well I will definitely consider those sites from here on out. Thank you. I already posted in my thread payment will be through PayPal, so we're pretty much stuck with that. I think he's gonna end up backing out anyway. I'm gonna end up reporting him.

 

[DU]

Plus making him pay the escrow fee would turn the $60 buy into $85

Likely needs to pay for transfer two if not specified. I believe there's a charge for internal push too..


=======

But looks like sale was "too late", stipulated "paypal" and with a new member who might(?) need education.

OP posted "Sold!" LESS THAN 24 HOURS AGO!
He's likely in a different TZ and hasn't logged on since 5.13 am EST.

Give it a chance. Geez.

 

[Kate]

I wouldn't use paypal unless there is some degree of trust from the buyer, or you are prepared to take the risk that the transaction might be reversed after you have transferred the domain.

But you can ask for a phone number and call the other party.

 

[Carbill3]

Well he got in touch with me today. He didn't make the deposit yet. He asked me to confirm the domains he will be receiving first. I'm not going to trust anything this is all over.

 

[lothos]

Well he got in touch with me today. He didn't make the deposit yet. He asked me to confirm the domains he will be receiving first. I'm not going to trust anything this is all over.

So confirm the domains for him, and see what happens

 

[RazorNF]

I just looked up the fees for the other two sites mentioned in this thread

eCop - 1%, minimum $35
MiniEscrow - 2.5%, minimum $10

Personally it's just not worth the hassle for me for such low amounts.

Just stipulate some minimum bidder criteria (TR, account age, etc) for your next auctions.

 

[Carbill3]

Well so far so good. He deposited the money, & I sent the transfer codes. It's my 1st sale!