Afternic considering domain financing

[droplister]

Afternic sent out a news letter with a survey pertaining to domain financing. Its a good idea imho and its exciting. It would allow me to get bigger names cheaper, or atleast in a more manageable monthly payment. Afternic would hold the domain for the payment period and if the buyer stops paying you keep the money and domain.

 

[Raider]

I think its a good idea, but it must apply primarily to domains owned by Namemedia, aka "Buydomains" I dont see many sellers like us willing to wait a year or more to get our money.

 

[shopperx]

I think there must be a catch, premium domains grow in value every year. The owner of a BiG domain wouldnt want to wait 1-3 years for the complete payment to arrive, with no interest rate and the possibility of the buyer backing out from the sale before the last payment (yes, it's permitted).

Let's see how they handle this new service, im interested as a buyer and a seller.

shopperx

 

[droplister]

From the sounds of the thread at dicussnames it is going to be offered to all sellers, not just BuyDomains domains.

 

[Raider]

From the sounds of the thread at dicussnames it is going to be offered to all sellers, not just BuyDomains domains.

Wow, If thats the case, sellers are going to have to commit to contracts, otherwise I see this turning into a nightmare for both parties.

 

[Focus]

The whole idea of financing is that the sellers would get paid right away for the sale and the company financing the domain deal, the "bank" so to speak would retain that risk and responsibility to secure total payment. Like financing a car.

 

[Kevin]

Chris is correct. Well said, my friend.

When anything is financed the seller receives the money upon completion of the transaction or escrow process, and the financing company makes money via charging an interest rate (and oftentimes additional charges) to the borrower.