Purchasing a Domain Name Safely December 20, 2006
Posted by Evil Green in : Domain Names , trackbackSo Stray Dog, myself, and a few good friends who are not nerdy enough to blog about their daily SEO tactics are working on a project together. It’s a project we felt worthy of a good dot-com domain name and we therefore had to buy one.
We found one we could agree on in $1,XXX.XX range. Kind of hurts to drop that on something that would have cost $8.95 if it wasn’t already registered.
Anyway, I just thought I would mention the steps we took to protect ourselves from a potentially fraudulent transaction. First of all, the seller wanted to switch the name of the registered owner but leave the domain name under his account, of course this means that he could switch it back at anytime, so we said no. He was fine with that, his reasoning was that if we were to let expire he would get it back.
We agreed to use an escrow service (note there are thousands of fraudulent escrow sites that look like reputable companies, stick with escrow.com and never use an escrow service recommended by the seller).
Their service is pretty straight forward:
- Buyer and seller agree to terms of sale
- Buyer pays Escrow agent
- Seller is notified by Escrow agent when money is received and transfers the domain
- Buyer agrees the domain is transferred
- Seller receives payment from Escrow agent
Should something happen along the way that causes the deal to fall through the buyer simply refuses to release the funds and gets his/her cash back.
So those are the steps we took, the transfer is in process now.
Comments»
no comments yet - be the first?