Need help

[john_karr]

Hello, I recently contact a individual who domain name Im interested in buying. I offer him $5k for the name and he accept my offer. The name is worth much more, I dont believe he have any knowledge about the value of DN's. I don't want to forward the money and he dont send the name. How should I handle this situation?

 

[Sparhawke]

Escrow.com

Basically you send the money to escrow and he has to send his domain information to them.

If you both accept then the domain gets automatically handed to you and your money gets handed to him.

There is no other way around it I believe since when his domain is handed over you get a password only you see to complete the sale. If he accepts he cannot give it back because he has already relinquished ownership. And you have relinquished ownership of the $5k

Escrow.com is the safest way to do domain sales of the price, and if you do not use it you are a fool :p

You do have to pay fees with this service, but it is well worth it for the peace of mind it gives and it is the most recommended way of doing business on these forums for high value domains.

 

[inventor]

To make this a much faster buy you should either get him/her on aim, skype, or phone and talk to him/her through the process. Try to seal the deal with in a few hours. Escrow is good, but don't forget to look at other alternatives.

Inventor

 

[john_karr]

Escrow.com

Basically you send the money to escrow and he has to send his domain information to them.

If you both accept then the domain gets automatically handed to you and your money gets handed to him.

There is no other way around it I believe since when his domain is handed over you get a password only you see to complete the sale. If he accepts he cannot give it back because he has already relinquished ownership. And you have relinquished ownership of the $5k

Escrow.com is the safest way to do domain sales of the price, and if you do not use it you are a fool :p

You do have to pay fees with this service, but it is well worth it for the peace of mind it gives and it is the most recommended way of doing business on these forums for high value domains.

Ok, thanks guys for the info! I'll keep you posted.

---------- Post added at 05:21 PM ---------- Previous post was at 05:20 PM ----------

To make this a much faster buy you should either get him/her on aim, skype, or phone and talk to him/her through the process. Try to seal the deal with in a few hours. Escrow is good, but don't forget to look at other alternatives.

Inventor

What are some other alternatives?

 

[Name Trader]

Escrow.com is the safest way to do domain sales of the price

No it isn't. Moniker Escrow is safer.

 

[npcomplete]

No it isn't. Moniker Escrow is safer.

Yep. Moniker is safer, although perhaps slower and more expensive. Moniker is a full escrow service, taking delivery itself of both the domain and the funds, and then performing the transfer after it has control of both.

I have used Escrow.com and Moniker. Both have worked out fine (trusted buyers), but I felt a lot safer with the Moniker transfers. If I didn't know/trust the buyer, I would feel *much* safer with Moniker.

.

 

[john_karr]

Yep. Moniker is safer, although perhaps slower and more expensive. Moniker is a full escrow service, taking delivery itself of both the domain and the funds, and then performing the transfer after it has control of both.

I have used Escrow.com and Moniker. Both have worked out fine (trusted buyers), but I felt a lot safer with the Moniker transfers. If I didn't know/trust the buyer, I would feel *much* safer with Moniker.

.

My concern is, can Moniker be trusted? When Moniker find out the Domain Name and the price this guy is selling it to me. Do you believe Moniker will try to purchase the DN, or try to convince the seller to sell in one of their auctions?

 

[inventor]

You could get a contract (find one online and re-write it to match the purchase) and have you both sign it.

I honestly don't deal with escrows or brokers. I tend to get them to sign a contract, they wire money, and I send domain. I usually have a sale completed with in 24 hours after the initial contact.

To answer your question, no. You can't trust any company really. Who knows, your seller might just receive an anonymous call with a better offer. You never know, but you can always take that risk.

Inventor

 

[MeanerDomainer]

Not to be mean, but on one level you are basically asking for instructions for the most reliable way to rip somebody off. :p

I know, it's just business and no-one is forcing them to sell. Hopefully it's not some little old lady who's husband left her the domain and the domain could have supported her in her retirement, but now she will starve after the $5k runs out... :p

 

[john_karr]

Not to be mean, but on one level you are basically asking for instructions for the most reliable way to rip somebody off. :p

I know, it's just business and no-one is forcing them to sell. Hopefully it's not some little old lady who's husband left her the domain and the domain could have supported her in her retirement, but now she will starve after the $5k runs out... :p

I totally understand what you're saying, but If someone was selling you a domain name at a price you can not refuss, you'll be crazy not to buy it. No one on the forum wouldnt refuse.

 

[mwzd]

If it's too good to be true, it probably is too good to be true.

Are you sure the domain is not stolen or hijacked?

Using an escrow service will protect you within the transaction, but not from the consequences if the domain is stolen.

 

[MeanerDomainer]

I totally understand what you're saying, but If someone was selling you a domain name at a price you can not refuss, you'll be crazy not to buy it. No one on the forum wouldnt refuse.

I agree that most people (almost all, probably) would want to buy it.

 

[xman]

There is no other way around it I believe since when his domain is handed over you get a password only you see to complete the sale. If he accepts he cannot give it back because he has already relinquished ownership. And you have relinquished ownership of the $5k

Escrow.com is the safest way to do domain sales of the price, and if you do not use it you are a fool :p

Are you sure about that?

I've used many different type of Escrow services and one of them is Escrow.com and I don't recall a password you were talking about either to complete the sale.

 

[johname]

Moniker Escrow is still not available to California residents, I use Escrow.com lol Plus average joe enduser dont freak out when you suggest Escrow.com to them.

 

[cache]

use escrow. Split the fees, so if he back out he has to pay his part of the fees.

 

[Sparhawke]

Are you sure about that?

I've used many different type of Escrow services and one of them is Escrow.com and I don't recall a password you were talking about either to complete the sale.

Add the word "should" in there which I forgot to include :p

 

[john_karr]

If it's too good to be true, it probably is too good to be true.

Are you sure the domain is not stolen or hijacked?

Using an escrow service will protect you within the transaction, but not from the consequences if the domain is stolen.

I dont think so!

 

[the_yehezkiel]

My concern is, can Moniker be trusted? When Moniker find out the Domain Name and the price this guy is selling it to me. Do you believe Moniker will try to purchase the DN, or try to convince the seller to sell in one of their auctions?

No, they won't do that. I know Moniker for years and they are very professonal. Although their process is sometimes too complex.

But make sure that the seller know what to do so he can transfer the domain to Moniker as quickly as possible. Once the domain is in Moniker account then you are safe..