Selling domains via PayPal - Recommended?

[SpongyBob]

Hi guys,

Just after a bit of advice.


Basically I've agreed a price with a buyer for a domain, but how we make the transaction hasn't been agreed yet.

Up and to now, I've used domain selling sites like Afternic to take care of things, but I'm just pondering making the transaction via PayPal (all negotiations took place via email, and no domain site has been involved, up to now). It'll allow me to avoid the fees and speed up the transaction. Also the domain transaction is for the relatively low amount of under $600.

But. I've heard of these tales from Ebay (this transaction isn't an Ebay auction, BTW) of buyers of goods deliberately claiming the seller hasn't delivered, just to get out of paying, and that PayPal has a habit of favouring the payer. I'm not sure I'm keen on the possibly of the buyer trying to renege on the deal after I've okayed the transfer and having to fight PayPal to get my money (naturally I'd be requesting payment BEFORE I ok the transfer, but I heard PayPal can still freeze the funds if the payer makes a complaint).

So, has anyone any horror stories of selling domains this way, or has it always been smooth sailing? Anyone any tips in avoiding getting stung or giving me better protection and avoiding PayPal fees?

Thanks in advance.

 

[maksimfa]

Have the buyer send you the money as paypal personal, this way they pay fees, and they get no buyer protection. It may raise flags down the road if you use it too much, but it is one way.

 

[Name Trader]

I'd use Escrow.com and make the buyer pay the fees. I do it that way for every sale that comes my way from the buyer contacting me.

 

[SpongyBob]

Thanks for the replies guys.

Getting the buyer to take on additional fees might be tricky.

Just trying to work out if a PayPal transaction has fully "cleared" in the "cleared funds" banking sense, if it says the money is in my account, or if there's an additional period that's advisable to wait.

 

[pande2012]

At the moment paypal is the best,I have been using for 5 years

 

[Name Trader]

As maksimfa said. If they pay via Paypal Personal or Gift, they cannot reverse the payment. But if it was me, I wouldn't accept a payment via PayPal for $600. $600 is a big Personal Payment or Gift. It might raise alarms at Paypal. Better to use Escrow.com if payment from somebody you don't know. Maybe you could split the Escrow fees.

 

[nimanib]

Avoid Ebay at all costs, word of advice & warning, lost $50 and my domain due to a buyer reversing the payment after allegedly not receiving the domain.

Ebay is not for domains IMHO, stick to a secure method of payment like Escrow if the transaction has taken place via email and share the fees or have buyer pay all. This will save you money, and give you reassurance in the process.

 

[lennco]

I have used PayPal many times and I always send a PayPal invoice to the customer plus I take a screen shot of the whois right after they accept the domain and I always save the email communications just in case.

 

[alien51]

Getting the buyer to take on additional fees might be tricky.

Just add the escrow fees to the price of your domain. Humans have a psychological resistance to "paying fees" of any kind.

It's just like Godaddy telling you that you can use its 99-cents coupon, but you are actually paying $1.17 during checkout.