Web Hosting Talk : Web Hosting Main Forums : Domain Names : how are domain sales conducted?

[zerosix]

Hi,
I am buying a domain from someone and I have never done this before, was wondering how it works. I pay the cost and then they transfer or I initialize the transfer and then I pay and then they finalize the transfer?

Thanks.

[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

[HostPromoter]

If there is a level of trust between both parties, you can simply send funds via the designated payment method and he can push the domain to your account.

If it is your first transaction and you would like to get some coverage then escrow.com could be an alternative.

[zerosix]

Also, quick question, I had a case before where the seller was a reseller of eNom and I was using eNom as well, and it had some trouble transfering...anyone had that? It's the same case here, so I don't want to send the money and find out that we are going to have some problems with the transfer.

[eSology]

Shouldn't have a problem pushing the domain between eNom accounts unless the seller has already pushed the domain within the last 7 days. If that is the case you will need to wait 7 days since last push.

[flix]

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).

Thanks.

[Bashar]

yes you initiate the registrar transfer and inform the buyer to approve the transfer so the domain get transferred to you from netsol to godaddy.