Our company is looking at purchasing an existing domain name from another company. We have never done this before and I would love it if any of you that have could pass along any kernels of knowledge you could offer.
Basically we want to be covered legally and are in the process of drafting the offer letter.
Usually a mutually agreed bank can act an intermediary. I have a good friend who got 350k for a domain three years ago. The process was a bit contorted with a pre-agreement. The pre-agreement is a binding sales and transfer contract for the domain. They then got Network Sol on the line, the buyer, the seller, and the third party bank was responsible for the xfer of money at the time of transfer. When ns said they'd updated it, it showed on the screen, then the bank transfered the funds.
Thanks Pete - part of our problem is that we are using the escrow services of register.com. That entails the transfer from NSI to Register.com. Things seem to be going smoothly - we have crossed a couple hurdles already.
Thanks for the offer - I would still like to read what you have. You can send it to the email in my profile.