Originally posted by Bashar
you can use brokering services or escrow services like:
escrow.com (buyer and seller handle the transfers)
afternic.com (same as above)
sedo.com (they transfer the domain to themselves then transfer it to the buyer) more secure
each service charges % for processing the transaction.
usually how it works for example at escrow.com:
1- transaction is initiated by buyer or seller
2- 2nd party approves
3- buyer send the money to escrow.com
4- escrow.com notify the seller money has arrived at escrow
5- seller transfer the domain to the owner which can be done by any of the following methods:
a. push between accounts at the same registrar
b. buyer initiate registrar transfer
6- domain ownership is changed to the new buyer
7- buyer notify escrow he recieved the domain
8- escrow send the money minus the transaction fee
I am currently waiting for escrow.com to start Step 4 in the list above, but I am a little concerned about the next two steps.
An example to reference:
If the seller has the domain on NetworkSolutions and I want the domain transfered to GoDaddy, then does that mean that I have to initiate the register transfer myself? And how exactly would I go about doing that in my NetworkSolutions / GoDaddy example?
Is ".. b. buyer initiate registrar transfer .." the ONLY way to transfer a seller's domain to a buyer's account between DIFFERENT registrars?
Please, explain - in detail - the steps of a buyer initiating registrar transfer (on GoDaddy for instance) and how to know FOR SURE that it has been done correctly (Step 6).