Whats the consequences for instant transfer upon sale

Located in Legal Discussion, started by fatter, Aug 10, 2016


  1. fatter

    fatter Top Contributor VIP ★★★★★★★★★★

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    I haven't signed up for instant transfer of my names for sale with my registrar because I am leary of someone using a bogus credit card for purchase, is there any safeguards to this I usually wait to transfer for a while till
    cc clears, although I would imagine the auction sites and registrars who use this pre-qualify buyers, has anyone had this issue when selling domains yet, thank God all my buyers have been legit to date
    Joe T
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  2. Addison

    Addison Top Contributor VIP

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    This wouldn't help you because chargebacks can be filed 30-90 days after the transaction, depending on the credit card company. 30 days is the shortest I've ever heard of.

    They don't pre-qualify them at all, but I'm guessing they'd bite the bullet by covering the cost if this happened and you made a (public) announcement about it.

    It's not guaranteed though. It's always wise to use an escrow company.
  3. Paul Nicks

    Paul Nicks VIP Member GoDaddy Staff PRO VIP ICA Member ★★★★★★★★★★

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    The AfternicDLS Fast Transfer system has safeguards in place that ensure you'll either get paid, or get the domain back if there's been a chargeback/fraudulent transaction. If you are talking about a COA after payment outside of a marketplace, then I think escrow should be the way to go since you have no good way as an individual to make sure a payment is good due to long chargeback times.

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