maximillianos - 8:10 pm on Mar 11, 2010 (gmt 0)
Just be wary that once the domain name transfer is initiated, you cannot stop it, reverse it or cancel it.
I got hosed by this last year when selling a domain name. I received payment (via Paypal), the funds were in my account and the transaction was marked "complete"... I then initiated the transfer of the domain. The next day I get an email from Paypal, they have decided I'm the recipient of a random audit. I tried to cancel the domain transfer. I was told sorry too late from GoDaddy. After a week, Paypal takes the funds back out of my account and return the money to the buyer. No reason or explanation other than they thought the transaction was suspicious due to the fact that the BUYER had not used their paypal account in a few years. Yeah, you can guess how livid I was. Then, to top it off, I called Paypal to complain and figure out what was going on after talking to the buyer (who was confused and wanted to resend me the money... fortunately). I told them to call the buyer to confirm, they said they don't make phone calls... they are an internet company and only deal with email. (the buyer was not receiving the emails from Paypal - her ISP was filtering them as spam).
Long story short, I had to get the buyer to send me a snail mail check, since Paypal said they could not guarantee the payment would get approved to me if she sent it a second time. (what?)
I "was" a long standing Paypal customer.
Be wary of 3rd parties involved in the transaction. Some things are out of your control the minute you click "ok".