Sell Domains / Big Bucks : Question

[DomainLobe]

I would like the advice of a few established and experienced domain investors.

What would you deem necessary to sell a high priced domain name??

- legal sales contract (like real estate contract)
What details / particulars should be included?

- escrow service

- option of NDA

- option to provide financing

Any other suggestions would be appreciated.
Thanks in advance.
Cheers,
Brent

 

[mirrorcube]

Go with an actual escrow service not a service that claims to be an escrow. For example Afternic is not a real escrow, but calls themselves one. Make sure the domain is in the hands of a third party. Legal contracts are necessary at a certain level of domain purchase since no escrow makes the seller or buyer follow through on an accepted bid. Only an external legal document can do this for you. I have had a seller back out on me from Afternic and they said I had no recourse. Hope this helps some.

 

[DomainLobe]

Thanks MC for the advice.
You echo my own thoughts about legal documentation and a real escrow service.

 

[Spade]

If were talking big dollar, its always smart to have a lawyer involved to cover all the aspects. Absolutely escrow is important as well. Use a reputable escrow service, most people find Escrow.com to be satisfactory (I do, for the most part).

 

[melmunch]

escrow.com does do a decent job, from my experience, but mirror makes a good point. When you have an escrow service that actually takes possession of the name, issues can be resolved in a more legal manner.