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What is the best process for buying a domain privately?

by pokerdawg
3 replies
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I found a name I want, made an offer to someone via email and it was accepted. The price is $250, so probably too low for Escrow.com

The seller has no experience selling names and is asking me the process. What would you recommend?

I'm thinking:

1 - He unlocks his domain at goDaddy

2 - He gets the EPP key from GoDaddy

3 - We jump on a call

4 - I pay him via PayPal

5 - He provides me with the EPP code

6 - I initiate the transfer on my side to my enom account

7 - Once I get it I change owners

While i don't want to be scammed, I'm not particularly worried, as I reached out to him and initiated the whole thing.

Do I have this right? Is there a better way? Should I use an escrow, even for something this size?

added: Actually, I just checked. Escrow.com is $25 for this size deal. Maybe it is worth it & makes the seller comfortable...

Thanks
  • Profile picture of the author Jeff Larose
    Escow.com worked well for me on a $400 sale.
    It steps you through the process.

    Cheers,

    Jeff
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  • Profile picture of the author derekwong28
    I would create an account at Godaddy and ask him to push the domain onto your account. This is instantaneous and avoids mistakes that can happen with EPP codes, unlocking etc.

    If it is an expensive domain, you should use an escrow service. $250 is not a bit amount. If you pay with PayPal, I would suggest that you use a credit card so you could mount a chargeback if things do not turn out right.

    Derek
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  • Profile picture of the author pokerdawg
    Thanks. We actually went the Escrow.com route. It was just $25 for the $250 domain, and we split it $12.50 each. I think this also gives a lot of comfort to the seller - who I solicited - and for the extra 5% to me, its worth it to make the deal go a lot easier.

    Hopefully the transaction is finished with in the week, and then off to build the next Google acquisition target
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