He agreed to sell me the domain name

The Escrow question

[ahlberg]

I posted earlier about someone owning my companys domain name. Well after a bit of negotiation he agreed to sell it to me. Does anyone have a sample "domain sales agreement" - for another perspective. I could have to compare...as he says he will provide one. I just want to make sure I, as the buyer, am protected.

Thanks Erik

[Shak]

Erik,

Use a domain name lawyer, please....

You are buying a lot more than a $6,00 registration fee.

Please Please use a lawyer.

Shak

[dmorison]

Erik,

If you don't want to go down the lawyer route, at least consider using an Escrow service.

An Escrow service act as a mutually trusted "man in the middle", and make sure that both parties get what they want.

Do a Google search for "escrow domain name".

[Lisa]

I hardly ever use escrow, I just ask for the money. If the check clears they get the domain. But from the buyer's perspective, escrow looks like a good idea. As a seller, I trust myself. :) Its all about what view you have on the transaction.

I have bought a few domains with no escrow if the amount is less then $400 and the person is a serious organization then I tend to just trust as well. If I was buying a domain from someone on eBay then I would use escrow for sure.

Does anyone have direct bad experince with buying a domain and having a hassle to get the domain after they have paid?

[Jenstar]

In his previous thread on this subject, he said that the domain name was being offered for $1300. I would definitely go through an escrow service - there are some that specifically cater to those doing domain name transfers, which would be best for you.

Or you can go through a lawyer who specializes in domain name transfers - again, this is a case where a lawyer with internet experience is needed, not just any lawyer will do. Always be sure to check that the lawyer has this kind of experience before you hire him or her.

Jen

[Edwin]

I've bought and sold over 300 domains, and I've only used an escrow service once (it was a fairly large transaction and the buyer simply would not pay up otherwise).

I will sign whatever contract/invoice/bit of paper the buyer wants to put in front of me (after reading it VERY carefully of course) if they want a bit of reassurance.

99% of the deals are even simpler: buyer pays, I give them the name or I pay, seller gives me the name.

In 7 years of domain trading, I've yet to have a deal go sour.

[AdamT]

Ideally, the transfer agreement should contain various assurances from the seller including its right to sell the domain, that the domain hasn't been subject to disputes etc.

The transfer should also tie in with an escrow agreement, if there is to be an escrow - which there should be unless you trust the seller implicitly or the value of the domain is minimal.

But then I'm a lawyer so I would say that!

Adam

[engine]

AdamT,

Thanks for that useful help, and Welcome to WebmasterWorld [webmasterworld.com]

[AdamT]

Thanks

[TomWaits]

You could pay 1/2 now and 1/2 after the domain name is in your name. We did that several years ago in a similar situation and it worked fine.

But, yeah, I'd use a lawyer.

[Jenstar]

Yes, definitely a lawyer or escrow once you hit this kind of price for a domain.

When you get a domain name transfered in escrow, you pay the escrow company for the domain. They then alert the seller that you have paid, and they can transfer the domain over to you. Once the domain is in your name and you are satisfied, you let escrow know to release the funds to the seller. There is usually a limit of a certain number of days to get the transaction completed in.

I forget what the fee was when I transfered my last domain via escrow, but it was reasonable. And it is worth the reassurance it provides.

[Hunter]

No lawyer needed. Use Escrow (hint hint, that is the sites name) if you are the buyer. Pay the fee since you are requesting the service. Simple.

[dauction]

I agree with hunter, I have done hundreds of sales through that particular escrow com-pany.
They are extremely professional , support is top notch and they do domain transactions on a daily basis.

They fully understand the ins and outs of the domain business and they will NOT release your funds until you are fully satisfied that you have control of the domain.