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Selling on Flippa.com - What Can I Do to Protect Myself?

by bettersocial
13 replies
Hi everybody.

I've listed a site for sale on Flippa.com. I'm close to negotiating a deal.

However, I have a few reservations about that marketplace. Namely, is it safe? There is no Escrow service as such, so my risk is increased.

Should I accept the payment through Paypal, or are there any alternatives (the amount is in the low x,xxx range)? I've used Escrow.com several times for selling domain names and they have a great service, but should (or rather, can) I use them for websites too?

Any advice from somebody experienced with selling at that marketplace would be greatly appreciated.
#flippacom #protect #selling
  • Profile picture of the author vincentdee
    Hi Puranjay,

    The first thing I would do is get a private registration for my domain, your name can easily be seen. Have a look at the below link

    examineurl.com/view.aspx?rappers.org

    That would be my first move and Godaddy offers Private Registration
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    • Profile picture of the author Hamida Harland
      I always use Escrow.com for any site above $1000 at Flippa. I wouldn't risk using Paypal.
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      • Profile picture of the author yommys01
        Originally Posted by Hamida Harland View Post

        I always use Escrow.com for any site above $1000 at Flippa. I wouldn't risk using Paypal.
        I am not trying to hijack this thread but I am honestly interested in this topic.

        If I use escrow.com, it is going to be escrow.com that will forward me my payment or the buy? If it is escrow.com how will they pay me? Check, wire transfer, paypal?

        If it is the buyer, will it be safe to accept paypal payment from the buyer in this case?
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    • Profile picture of the author bettersocial
      Originally Posted by vincentdee View Post

      Hi Puranjay,

      The first thing I would do is get a private registration for my domain, your name can easily be seen. Have a look at the below link

      examineurl.com/view.aspx?rappers.org

      That would be my first move and Godaddy offers Private Registration
      Thanks Vincent. Will add the privacy to the site.

      Also, is it okay to accept bids through PMs at Flippa (I know its against their TOS)?
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      • Profile picture of the author sbucciarel
        Banned
        Originally Posted by sashas View Post

        Thanks Vincent. Will add the privacy to the site.

        Also, is it okay to accept bids through PMs at Flippa (I know its against their TOS)?
        You are risking losing your Flippa acct negotiating via pm. Sounds like you already know it's against TOS to offer or accept bids via PM.

        As for safety, there are two ways you can go. If the buyer wants to use Paypal for a higher value site, I hold the domain name for 46 days. He cannot file a dispute at 46 days. Other way: Escrow.
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  • Profile picture of the author LMC
    sashas,

    I hope that rappers.org is not selling for anything less then $5,000, with a domain name like that, there is so much potential to turn this sucker into a five figure asset in a few months...
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  • Profile picture of the author TPFLegionaire
    Hi Sashas

    here are a few recommendations that you may want to consider:

    -use escrow.com...split the fees or buyer pay.since you want 2k for the site you want to protect yourself

    -if it's against the TOS, do not accept bids via PM. no really...don't.

    - Consider using a contract ...I recommend the one site point sell

    - I am not sure what the problem is in having your name seen as the owner of the site...when you are about to sell it, could someone expand on that as I may be missing something here

    -On the other hand, is your buyer/bidder identifiable? I personally like to know who I am dealing with.

    Just beware of shortcuts...

    Good luck with the sale
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  • Profile picture of the author john_kennedy
    It is my understanding that the buyer pays escrow.com and when they are satisfied that they got what they paid for escrow.com pays you. Not sure about the method. I would go to escrow.com and learn as much about them as I could before I would entrust any money to total strangers!

    John
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  • Profile picture of the author bettersocial
    Thanks for the tips guys.

    The buyer seems genuine enough; he's sold 3-4 high profile sites on Flippa before. I will be clarifying the offer through bid issue.

    My experience with Escrow.com for domain sales has been very good. You can receive payments through check, ACH, or wire transfer. They're very quick with processing wires; I've closed sales within a day (buyer sent the money in the morning, I had the money sitting in my account by the evening).
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  • Profile picture of the author Philarmon
    I would suggest to use Escrow for anything over $500 - it costs some money but you will be on the safe side. Also, i always check the feedback for the person i am dealing with. A simple Google search for his nickname can also reveal a lot nowadays

    Escrow can sent the payment to you in several ways. Checks are free, bank transfer costs $20 within US and $40 for international banks. Usually, all transactions can be processed within a week or two max.

    You might to take a look at the Escrow's FAQ:
    https://escrow.com/support/faq/index.asp?sid=2
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    • Profile picture of the author angela99
      As other posters have said, use escrow.com... and communicate with your buyers.

      Communication is vital. Be easy to contact -- offline too. Then just talk to people, if you think you have a possible buyer. Answer their questions, and ask questions of your own. :-)

      Most people are basically honest -- at least 95% of the population. Yes, there are scammers around, but you can usually spot them quickly once you speak to them.

      Remember that the person who's buying your site will be nervous of you too, wondering whether they're going to be ripped off.

      So be professional, be friendly, use escrow.com, and you'll have a great experience.
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  • Profile picture of the author magicstar
    1. Be very careful which escrow company you use. There are a lot of con companies who take the money and then disappear.

    2. Escrow.com does NOT escrow websites. Read that again. Escrow.com DOES NOT escrow websites. Very few people realise this.

    They do not have a category for it. The closest they've got is "domains" - you think they are escrowing your site but they are only escrowing your domain. What's the distinction? They are only guaranteeing transfer of the domain. If you're buying a site then if the seller transfers the domain to you but doesn't provide the files, the database or anything else, you're screwed. Escrow.com will still hand over the money to him. There are similar risks if you are the seller - you transfer everything except domain to the buyer and then he can change his mind and escrow will refund his money.

    3. Escrow.com is an escrow company registered in California. Yucks! Why is that important? Have a look here: Escrow in California: California Dictators Say, "All Your Financial Transaction Are Belong To Us"

    4. Philarmon, and others, you use the term Escrow interchangeably with escrow.com. As much as IES (Internet Escrow Services, the company that has "leased" the escrow.com domain name) would like you to think Escrow is the same as escrow.com ... IT IS NOT.

    This may also be worth reading.
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    • Profile picture of the author bettersocial
      Originally Posted by magicstar View Post

      1. Be very careful which escrow company you use. There are a lot of con companies who take the money and then disappear.

      2. Escrow.com does NOT escrow websites. Read that again. Escrow.com DOES NOT escrow websites. Very few people realise this.

      They do not have a category for it. The closest they've got is "domains" - you think they are escrowing your site but they are only escrowing your domain. What's the distinction? They are only guaranteeing transfer of the domain. If you're buying a site then if the seller transfers the domain to you but doesn't provide the files, the database or anything else, you're screwed. Escrow.com will still hand over the money to him. There are similar risks if you are the seller - you transfer everything except domain to the buyer and then he can change his mind and escrow will refund his money.

      3. Escrow.com is an escrow company registered in California. Yucks! Why is that important? Have a look here: Escrow in California: California Dictators Say, "All Your Financial Transaction Are Belong To Us"

      4. Philarmon, and others, you use the term Escrow interchangeably with escrow.com. As much as IES (Internet Escrow Services, the company that has "leased" the escrow.com domain name) would like you to think Escrow is the same as escrow.com ... IT IS NOT.

      This may also be worth reading.
      Very interesting. I've been using them for domain transactions and have no complaints so far. Will have to look into this.

      Thanks for sharing.
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