how to do a domain transfer transaction?

[callivert]

I have my eye on a domain that will expire shortly. I want to make the current owner an offer before it goes to auction. Assuming they say yes, what do we do next? What do I tell them to do?
In other words, how do you conduct a transaction to transfer a domain with someone?
I'm asking, because I'm almost certain that they will have no idea how to do this. Plus, I'm the one who wants the domain, so I need to have this information at my fingertips in case they say "yes."

[jtoddv]

I am wondering the same exact thing right now. I am anxious to hear the best approach from experts in this area.

[jtara]

In other words, how do you conduct a transaction to transfer a domain with someone?

- The transfer is initiated by the buyer. You simply go to any registrar of your choice, and choose "transfer an existing domain" from their form.

- The seller must have unlocked his domain protection at his registrar, and must approve the transfer when contacted by his registrar notifying him of the pending transfer. So, the seller must make sure his contact information at his registrar is valid and up-to-date. In some cases (certain registries, such as .org) there is a validation number that must be given that they can obtain from their registrar. There may be other validation steps, depending on the registrar and registry. Just alert the seller to the need to follow the instructions that are typically emailed to them by their registrar.

- For larger transactions, you may want to use the services of an escrow company. escrow.com is one that has been used by a number of people here, including myself. In that case, follow the instructions given by the escrow company. You will send payment to the escrow company, and they will release payment to the buyer when the domain has been successfully transferred.

[callivert]

thanks, Jtara.
If I understand you correctly, smaller transactions work on a principle of good faith. In other words, I pay the current owner the agreed amount, then he/she unlocks the domain for me.
Bigger transactions use an established escrow agency, to eliminate the possibility of one person reneging on the deal, and in fact these agencies exist for precisely this kind of transaction.

That being the case, I'll be using a simple, old fashioned "good faith" technique, but I'll make sure I've got something in writing agreeing to the deal before I pay anything.
I'm guessing email transactions to that effect would suffice.