Newbie help please

[shanhi]

I want to work with domain. But I don't know to to work with it. Here is some question that I concern about.

1. How do I know when I want to buy a domain, they actualy give the domain to me after I pay them. Should I pay first or get the domain first? What should I do after I get the domain?


2. When I sell a domain, how do I know they will pay me. How do I avoid fraud.


Thank you.

 

[snowbird]

If you are concerned about fraud, the best way to handle domain transactions is to use an escrow service. This is a 3rd party (usually a company) which holds the money until the domain reaches it's destination.

Example:

Joe wants to buy the domain Joe.com from you. You decide to use an escrow service for the transaction. Joe sends $500 or whatever to the escrow service for the domain. Then the service notifies you that the money has been received. You then send the domain to Joe and the escrow service will send the money to you. This escrow service acts as a 3rd party making sure that both parties get what is rightfully theirs in the transaction. When using an escrow service, they normally deduct a small fee from your payment. This is how they profit from your transaction and stay in business. This is probably one of the most safe ways of doing domain transactions. You can do it without an escrow service but this means that you will have to trust the buyer/seller that the transaction will go smoothly.

 

[shanhi]

thanks, but,
How do escrow know that I already send my domain to Joe? Does escrow do not want to get the domain and send it to Joe?

Is that possible to do it with paypal?