Really Stupid Newbie Question

[Bigtime]

Hello,
I am not a domainer but any stretch of the imagination. I was drawn to this site over the summer simply looking up John Berryhill's name and service (and he helped me with a UDRP). I do own a small amount of domains and someone recently inquired about purchasing a domain from me, which I am willing to sell. However, I am really, really, really stupid when it comes to selling domains (I only buy them for my own directory purposes).

If the sale goes through...(LOL this is going to sound stupid) what do I do to insure I don't get boned. I do have a Paypal account I use for other things, but how does the perspective buyer and myself protect ourselves and any money.

Hence, I come humbly to the professionals of this forum for my lack of knowledge on this subject. You guys do this day in and day out and if you would be kind enough to offer any advice to just an average Joe, I would appreciate it.

Many Thanks,
John

 

[Biggie]

Hi

it's not a stupid question

list the domains on sedo and have the buyer place their offers thru the domain name or link, which you supply to them.

just have a "net" price in mind that includes sedo's 10% commission fee.

or some other reliable escrow service

of course, here on the forum....among trusted members, we use paypal on a daily basis.


imo...

 

[Bigtime]

Thanks biggedon. I really appreciate the information. I will check out sedo per your advice adn thank you for the heads up about the 10% comission.. I am not sure if the person asking for the domain is a member here or not. I did send an email to one person here who was looking for domain, but that was a few months ago. Out of the blue today, I got an email for purchase of one of my domains that I was developing for something else. So this was a first for me.

 

[INVIGOR]

...

 

[stock_post]

Few days ago we saw a case where the buyer got the domain and claimed he never got the domain.
escrow is not really good for big transactions.

 

[EM @MAJ.com]

As suggested, escrow.com is a trusted service as well. Both parties are safe, you will receive your payment direct deposit to your bank or paypal account.

Good luck.

 

[INVIGOR]

...

 

[simon johnson]

Hi John,

Its a great question. For the record (I do this full-time, day in, day out), the three best tips I can give you are:

1. Know who your buyer is and verify their details (independently). Get their phone, address etc... call them up and chat.
2. Use a service like escrow.com - I've previously used them for large transactions. Although the fees can be high, its worth it for the peace of mind.
3. List it on Sedo and use their service to buy/transfer.

I'd forget about using a 3rd party (individual) as it makes things complex. Oh, and just in case you were thinking about it - Paypal offers very little protection in reality. I've personally experienced people empty out their Paypal account, and run, after Paypal (eventually) pursues them.

Hope this helps.

 

[mediawizard]

If the deal is substantial I think you could use an 'attorney trust account' with JB, he's quite a well known name.

Most legit buyers should have no issues with that.

Moniker / Sedo offer an escrow service at 3% assuming the domain is NOT listed in their marketplaces. Both of these are quite secure too. Good Luck.