When an end-user says "Yes", how do you handle the transaction?

[infosec3]

I would like to know how some of you handle the transaction when an end-user agrees to buy one of your domains. Do you use Escrow or just your Paypal account?

I have used Paypal for transactions of a few hundreds... Are your end-users generally familiar with Escrow?

Do you use several means (Paypal, Escrow, etc.) starting from a specific amount?

Your input is appreciated.

 

[gemstar]

Use Sedo ask that the buyer pays for transaction or split costs. Or Escrow is the best bet.

 

[xxmlrxx]

When dealing with a known business or larger corporation, I will normally transfer the domain to their account and then send them an invoice via PayPal.

From my perspective...if I received an email from somebody I had never heard of, I don't know if I would feel too comfortable sending a couple hundred or thousands of dollars and then just waiting patiently for the domain. Since there are so many potential scammers, I would worry I would never see anything for my money and suddenly the person that emailed me would disappear.

Any smart business is not going to ruin their reputation by cheating you out of a few hundred dollars for a domain name. A negative Yelp / Better Business Bureau / any other type of review can break a business.

If dealing with an individual, I normally offer them the option to use escrow (I pay the fees) or tell them they can pay via PayPal - being sure to mention it will be much quicker and they will be able to get the domain by that night. Most of the time, they are just willing to send payment and I then transfer it. It of course helps to be a verified PayPal business member.

If you do choose to use escrow, be sure that it is a trusted company such as escrow.com. There are quite a few fraudulent/fake escrow companies in which you could easily lose your domain and never see any money.

If transferring a domain before receiving payment, it may be wise to have the buyer sign a Domain Name Purchase Agreement

 

[xman]

For few hundred $$$ sale I normally use paypal.

Anything above $500 I used escrow with 50/50 split transaction fee.

 

[gemstar]

When dealing with a known business or larger corporation, I will normally transfer the domain to their account and then send them an invoice via PayPal.

From my perspective...if I received an email from somebody I had never heard of, I don't know if I would feel too comfortable sending a couple hundred or thousands of dollars and then just waiting patiently for the domain. Since there are so many potential scammers, I would worry I would never see anything for my money and suddenly the person that emailed me would disappear.

Any smart business is not going to ruin their reputation by cheating you out of a few hundred dollars for a domain name. A negative Yelp / Better Business Bureau / any other type of review can break a business.

If dealing with an individual, I normally offer them the option to use escrow (I pay the fees) or tell them they can pay via PayPal - being sure to mention it will be much quicker and they will be able to get the domain by that night. Most of the time, they are just willing to send payment and I then transfer it. It of course helps to be a verified PayPal business member.

If you do choose to use escrow, be sure that it is a trusted company such as escrow.com. There are quite a few fraudulent/fake escrow companies in which you could easily lose your domain and never see any money.

If transferring a domain before receiving payment, it may be wise to have the buyer sign a Domain Name Purchase Agreement

Never transfer asset untill you get your cash first.

You could always transfer a deed or property to someone via email and hope to get payment.
But in the end who is chasing who?
Stay in control of your property.:wave:

 

[fatter]

If you have name at fabulous.com they have instant transfer after payment is made with a small fee I use them for fixed price deals, if Not i use sedo I dont trust escrow because i have hear of people that lost out on there money and name with them, sedo sends a check and if there is a problem they are out and not your, I have also used network solutions where the buyer pays escrow

 

[gemstar]

If you have name at fabulous.com they have instant transfer after payment is made with a small fee I use them for fixed price deals, if Not i use sedo I dont trust escrow because i have hear of people that lost out on there money and name with them, sedo sends a check and if there is a problem they are out and not your, I have also used network solutions where the buyer pays escrow

Good post!:wave:

 

[alien51]

This topic has been discussed in great detail in the past already here at namepros.

The summary i got from all the historical posts:

1. Do not use PAYPAL. A scum buyer can declare a chargeback and you won't get your domain back without going through extreme hassles.

2. PAYPAL always sides with the BUYER.

3. Just because PAYPAL works for you in the past, doesn't mean you won't get screwed. A lot of inherent loopholes with PAYPAL will result in you not getting paid (in case you're unlucky enough to deal with a scum buyer).

4. To avoid fraudulent escrows, just stick with SEDO or MONIKER escrow service. And to some extent - ESCROW DOT COM. Why explore other escrow companies when these three work fine?

 

[Kate]

If you are going to push the domain before getting paid, in the case of a known/trustworthy end user, it still doesn't hurt to have a contract to cover yourself.

 

[biggie]

If you have name at fabulous.com they have instant transfer after payment is made with a small fee I use them for fixed price deals, if Not i use sedo I dont trust escrow because i have hear of people that lost out on there money and name with them, sedo sends a check and if there is a problem they are out and not your, I have also used network solutions where the buyer pays escrow

good options!


note: sedo's external domain transfer service" fee is only 3% for domains not listed for sale on sedo.

sedo.com/us/about-us/price-list/?tracked=&partnerid=&language=us

 

[tricolorro]

If you have name at fabulous.com they have instant transfer after payment is made with a small fee I use them for fixed price deals, ...

Could you please share where in the Fabulous.com Control Panel I can find this info.

Thanks.

 

[Name Trader]

I always use Escrow.com when selling to an end-user.

 

[nrmillions]

If it is less than $10k then I use Escrow.com otherwise I use Moniker Escrow. If it is a very small transaction (less than $1k) and things dont seem weird with the buyer then I just use PayPal. Dont ever use Sedo for escrow unless someone made you the offer through there and you dont know who they are and you have no choice. If you sold a name for $50k on sedo, they will take $5k in commissions but Moniker Escrow would only take around $500. That is a huge difference in money.

 

[Dotmainer]

It depend on several factors:
1. Amount
2. Buyer Country
3. Personal or Business Entity

1. Up to 200$ can go through Paypal/Moneybookers
2. Is Buyer from Country/Region where i can do some legal action against him if he dont pay ?
3. If it's Business Entity then there is, i would say 99% chance that they do everything fine.

But in general it depends. With some sales i got feeling how to go.

I would say its best to offer always to buyer to select which he want, but giving him selection.

Like "Can you please tell me how we handle transaction, serios companies specialized in this are www.escrow.com / www.moneybookers.com .... They handle whole process as possible secure for you and for me"

 

[serversea]

You should ask your client with which merchant he feels more comfortable. Just let him/her know about the choices and let him/her decide calmly.

 

[gemstar]

This is what I would say.

http://www.youtube.com/watch?v=mBS0OWGUidc:wave:

 

[DavidH]

Most of my end user sales come from contact I have initiated so usually they are businesses with websites, etc.

Most of my names are with Enom and I am a reseller.

Usually I ring the buyer to conclude the sale and reassure them that I am genuine.

I set up a free Enom account for them and transfer the name into that account so the whois shows up their details.

Most of my sales are mid - high $$$ with a few $$$$ and I generally accept payment by Paypal.

Once I have received payment I give them their account name and password so they can access the domain.

They dont know who I am but I have some idea of who they are. This way I reassure them I am for real and it works for me.

By providing as far as possible very good and prompt service, I have been able to turn some of these customers into repeat buyers or alternatively they have been happy enough to move some of their other names registered elsewhere into their Enom account so earning me a little more further down the line.

 

[fruttolo]

bank transfer, directly! no third parties involved, just real names, and real accounts!
no hidden feeds...

easy, safe, and simple! :D