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I just made an offer of $1500 on a domain and he accepted, and wants to know how I want to pay him. What's the best way to do this? Is credit card or paypal safe? Am I better off using some kind of escrow to be sure it really gets transferred? I could use Network Solutions certified offer service but it would cost me about $100.
Are there other options?
Escrow would be the safest way, but credit cards and PayPal do give you some protection, though it may take longer to get your money back, as they'll have to go through a step-by-step process.
You could also call the 1-800 number on the back of your credit card to ask about your rights and for specific info on "what if."
joined:June 15, 2001
I used an escrow service on a domain sale of $2k and found that the cost was worth the piece of mind it gave me.
Defiantly, the escrow service will act as a fair middleman. It ensures the transaction is as safe as possible. Sometimes a sale can be nervous if you do not know the other party. An escrow makes the process safe and fairly simple. it is also a lot cheaper than hiring a lawyer to draft up a legal agreement between buyer and seller.
Plus sometimes peace of mind does not have a too high a cost. :-)
[edited by: WolfLover at 7:43 pm (utc) on Sep. 1, 2006]
Given your input, I decided that the alternative was probably to pay by credit card (he does accept credit cards) and have a signed agreement, but I'd rather pay $100 than worry about writing something up and getting it signed.
Escrow.com charges you just 0.89% (or something similar to that amount) of the transaction cost as fees while sedoescrow charges you 10% of the transaction cost.
I have used escrow.com plenty of times and would be glad to recommend it to anyone.