question What is best way to complete private sale?

[saucey]

Hi all!

I have sold several domains but always through online platforms...

I have a Chinese buyer who just contacted me and would like to buy one of my domains. We have not agreed on a price yet but if and when we do, what is the best way to complete the sale?

I realize that there are brokers and escrow services, but if I want to cut out the middleman and just make it between myself and the other party, what is the best way to go about this?

Just PayPal and hope both sides are honest about it? Or?

Cheers!

 

[NoBS]

Paypal and hope.

 

[saucey]

Doh!

 

[NoBS]

Or move it to Uniregistry then use the offer inquiry form. Don't select buy it now. It will be pushed into their Uni account, and it will be stuck at Uni for the next 60 days in case things go wrong.

 

[saucey]

But then there would be a fee involved, wouldn’t there?

I have never dealt with uniregistry before

 

[Mamdouh Soliman]

Or move it to Uniregistry then use the offer inquiry form. Don't select buy it now. It will be pushed into their Uni account, and it will be stuck at Uni for the next 60 days in case things go wrong.

If you use your credit card to buy a domain, uniregistry lock the domain only 10 days then you can transfer the domain away to different regristrar. Only 10 days lock.

@saucey use uniregistry, they are the best.

 

[NoBS]

Only a transaction fee depending on payment type they use. Create a new inquiry in your market area or they can initiate things through the inquiry form, just ensure you don't use the broker option or do a bin.

https://uniregistry.com/market-fees-rules

 

[lambo.com]

Don't use PayPal unless it's money you can afford to lose

 

[anantj]

Depending on the value of the transaction, I do not recommend you go for it alone. However, to list all your options:

1. Have the buyer pay you first via a wire transfer (There will be charge for the wire transfer)
2. Have the buyer pay you first via a remittance agency (There will be a charge by the remitance agency/service)
3. Go visit the buyer and collect cash

Via an escrow type service:
1. Use Undeveloped - Only 9% commission
2. Use Namesilo marketplace (Domain must be registered or transfer to NS to use their marketplace) - 7.5% commission. Lower for bitcoin
3. Use Epik Marketplace - Again, similar commission structure
4. Use Payoneer Escrow - Very low fees. Check their website for exact fees based on the txn amount
5. Use Sedo escrow - 2.5% (I'm not fully sure about this)
6. dn.com - Fairly low fees and familiar to buyers from China.

Net of it is, unless you're willing to visit the buyer and collect cash directly from them, there will be a fee involved one way or the other. Some services are safer than others and well worth the fees. I'd recommend ignoring the greed and using a proper escrow service or equivalent. And, if your buyer agrees to it, you can pass the escrow fees to be borne by them.

Thanks
Anant

 

[anantj]

Ugh, Uniregstry sucks. They have lots of shady practices and they have hidden charges. Avoid them!

 

[lambo.com]

Depending on the value of the transaction, I do not recommend you go for it alone. However, to list all your options:

1. Have the buyer pay you first via a wire transfer (There will be charge for the wire transfer)
2. Have the buyer pay you first via a remittance agency (There will be a charge by the remitance agency/service)
3. Go visit the buyer and collect cash

Via an escrow type service:
1. Use Undeveloped - Only 9% commission
2. Use Namesilo marketplace (Domain must be registered or transfer to NS to use their marketplace) - 7.5% commission. Lower for bitcoin
3. Use Epik Marketplace - Again, similar commission structure
4. Use Payoneer Escrow - Very low fees. Check their website for exact fees based on the txn amount
5. Use Sedo escrow - 2.5% (I'm not fully sure about this)
6. dn.com - Fairly low fees and familiar to buyers from China.

Net of it is, unless you're willing to visit the buyer and collect cash directly from them, there will be a fee involved one way or the other. Some services are safer than others and well worth the fees. I'd recommend ignoring the greed and using a proper escrow service or equivalent. And, if your buyer agrees to it, you can pass the escrow fees to be borne by them.

Thanks
Anant

Amazing post, nice job buddy

 

[lambo.com]

Ugh, Uniregstry sucks. They have lots of shady practices and they have hidden charges. Avoid them!

Uniregistry rock! I Iove those guys!

 

[saucey]

Depending on the value of the transaction, I do not recommend you go for it alone. However, to list all your options:

1. Have the buyer pay you first via a wire transfer (There will be charge for the wire transfer)
2. Have the buyer pay you first via a remittance agency (There will be a charge by the remitance agency/service)
3. Go visit the buyer and collect cash

Via an escrow type service:
1. Use Undeveloped - Only 9% commission
2. Use Namesilo marketplace (Domain must be registered or transfer to NS to use their marketplace) - 7.5% commission. Lower for bitcoin
3. Use Epik Marketplace - Again, similar commission structure
4. Use Payoneer Escrow - Very low fees. Check their website for exact fees based on the txn amount
5. Use Sedo escrow - 2.5% (I'm not fully sure about this)
6. dn.com - Fairly low fees and familiar to buyers from China.

Net of it is, unless you're willing to visit the buyer and collect cash directly from them, there will be a fee involved one way or the other. Some services are safer than others and well worth the fees. I'd recommend ignoring the greed and using a proper escrow service or equivalent. And, if your buyer agrees to it, you can pass the escrow fees to be borne by them.

Thanks
Anant

Anant! Thank you! Very thorough and helpful!!!

 

[NoBS]

But imo I am more than happy to pay Uni their fee, and I use their brokers almost 100% of the time. If the buyer is from China and uses the inquiry form and it goes to a broker, it will almost always go to a Chinese speaking broker who will actually call them (if they leave a number or skype). Same with other countries. It's definately worth the 15% if it nets you a lot more money.

 

[saucey]

But imo I am more than happy to pay Uni their fee, and I use their brokers almost 100% of the time. If the buyer is from China and uses the inquiry form and it goes to a broker, it will almost always go to a Chinease speaking broker who will actually call them. Same with other countries. It's definiately worth the 15% if it nets you a lot more money.

Definitely something to think about!!!

So, if one of their brokers starts a negotiation on my behalf am I locked in? Or can I break off negotiations and deal? Is there an exclusivity contract with Uni?

 

[NoBS]

I'm not sure on that, I suspect you're not locked in like with other brokers you might need to finish things elsewhere, or at least create a new inquiry in your marketplace without a broker.

 

[gilescoley]

If they have come to you, you are in the box seat. If you arent using Escrow, I would want payment first and then do the transfer.

 

[IMEZI]

you still could use paypal and try to minimize the risk with these following step :
1. use written email communication, it will be better if the email your client used is the same as their paypal email.
2. prepare ownership proof screenshot
3. use paypal invoice
4. describe in detailed about the transaction
5. i mean detail such as : domain name, registrar, originated registrar account, destination registrar account
6. upload the screenshoot through paypal invoice.
7. ask for email confirmation about the domain status when the buyer received the domain

or you could try https://www.payoneer.com/escrow/

 

[NoBS]

As mentioned Payoneer escrow fees are low. Not sure how stringent their id requirements are, and it could vary depending on country. ID requirements like Escrow.com need can easily kill the sale.

 

[anantj]

As mentioned Payoneer escrow fees are low. Not sure how stringent their id requirements are, and it could vary depending on country. ID requirements like Escrow.com need can easily kill the sale.

For buyers from China, I'd seriously recommend dn.com. Chinese are far more comfortable with dn.com (which is an escrow provide)

 

[maxtra]

Escrow.com / PayPal.

Crypto is also a safe option if both parties agree to it.

 

[imadoer]

what about getting paid by bitcoin ??? if you go this route make sure you get paid up front