Whats the consequences for instant transfer upon sale

[fatter]

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
Thanks
Joe T

 

[Paul Nicks]

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.

 

[Addison]

I usually wait to transfer for a while till cc clears

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.

I would imagine the auction sites and registrars who use this pre-qualify buyers

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.