Uniregistry Market - SSE?

[Name Trader]

Does anyone have any comments about Uniregistry Market - Payment Options - SSE?

I just sold my first domain thru a Uniregistry Broker. I said I wanted to use Escrow.com but they are pushing their own SSE payment system, where you provide the Wire Transfer Details for your bank, just like at Escrow.com. They are saying that the buyer lives in Japan, and uses Japanese language, and it might take 2 weeks to get their payment details approved by Escrow.com. Sounds like BS. But I really don't know.

Has anybody used their SSE system and can vouch for it being a good and reliable system? I guess, my biggest fear is that they might have sold the domain for a higher price, and that by using their own SSE, they can actually hide the real price paid.

The broker is saying the buyer has bought from him before and is reliable and trustworthy. Is there any way this could be any kind of scam?

 

[biggie]

if the net amount you are to receive, is acceptable, then I don't see an issue

I sold a name there via broker contact recently, and buyer paid with cc

the broker commission was biggest hit. but they walk the parties thru the transfer process.

imo...

 

[Name Trader]

Thanks @biggie. My transaction has been structured in such a way that the buyer has upped his offer in order to pay for their commission fees. So I'm getting what I want net. The whole transaction seems to have been a very flexible one. It was a pleasant surprise. Much better than dealing with the straight-laced brokers at all the other big brokers. Which was what raised my hackles

 

[namemarket]

The Uniregistry SSE system works fine and is trustworthy. However, there's a couple things to think about such as it's very rare a buyer pays commission or is even asked to do that yet he agrees to pay it, which seems quite unusual. Also, in the event of a chargeback (mostly with credit cards but can also happen with wires under fraudulent circumstances) what happens? Are you then asked to pay it back? I believe with escrow.com they lose the money not the seller (but not sure). Also interesting buyer is from Japan as I believe Japanese rarely inquire or buy domains for some odd reason. There is also a Japanese based domain scam using lots of bulk emails thats been around for a long time.

 

[tonyk2000]

Uniregistry inhouse processing works 100% fine. After the domain is delivered, the seller will be paid on the following Monday or Tuesday I think. I had zero issues with this system and can definitely recommend it.

Two things to think about:

If paypal payout option is selected, then Uni will _not_ use masspayment due to some reason, and so paypal will charge some %%% for receiving international payment from Cayman Islands where Uniregistry is based. The same also applies to domainparking payments.

If bankwire payout option is selected, then the wire will arrive from a sender with Cayman Islands address clearly shown. Not all banks / jurisdictions are 100% happy to receive $$$ from Cayman Islands (and/or other "offshore" locations), so the sellers might want to check with their bank and/or local banking laws before requesting such a bankwire.

 

[Name Trader]

@namemarket - Thanks for your insights. Appreciated. What happened in the negotiation was I told the broker I wanted the potential buyers offer net after commissions and escrow fees. I presume they did the maths and requoted the price to the buyer. Which they accepted. I was also curious about the Japanese buyer for the reason they gave. That their bank was Japanese and it's probably going to take a long time to get their bank account approved with Escrow.com. That sounded like BS to me. I think I can guess who the buyer is. And they are certainly not Japanese. Of course my guess could be wrong. But it fits a certain well trodden path of domain upgrades. I think I'm most probably right in my guessing. But I could just as easily be wrong. Because the broker has said he's done business with these people before.

 

[Name Trader]

@tonyk2000 - I appreciate your comments. Thank you. I will be receiving a wire transfer. I had assumed that that was one thing they would check with the bank account I provided BEFORE the bank account for the wire transfer is approved. But I will check with my bank tomorrow. Tnx.