Web Domain Sale

[ADJimbo]

I have a conundrum that I would like the PH opinion on;

I registered a domain (with a number of endings to that domain) some years ago, when a (then) girlfriend was looking at starting her own business in her own chosen field.

That domain has always been held on my Internet Providers annual package, with my other companies domains, and has automatically renewed with everything else on the contract. I have never needed it as it relates to a specific area of medicine, so has no relevance to my own core businesses.

I have been approached by a large California based company who want to purchase that particular domain. They all check out and I am happy it is not a scam.

We have virtually agreed terms of the sale, but how does one go about protecting the deal, in so far as they are likely not to want to send me a few £k across the pond on the proviso that I will then transfer the domain to them, and I do not want to transfer the domain to them, on the proviso that they will then send me a few £k across the pond when it is done.

I wouldv be unable to litigate against them in a US court if it went wrong, and they would be unable to litigate against me in a UK court if it went wrong.

We are heading for a Mexican stand-off.

Does the wisdom of PH have any ideas on how I can protect myself in this transaction?

Edited by ADJimbo on Saturday 2nd May 14:55

[Arnold Cunningham]

Have a look at https://www.escrow.com/

[HoHoHo]

Years ago I sold a couple of domain names that really cost me nothing for quite a few quid.

I had a random phone call from someone in the US and he immediately offered a sum of money for the domain name, I had no idea what it was worth but said no, he’d think about it and had other options and would call me back.

5 minutes later he called and said sounding quite surprised that I owned the other options as well…….

We agreed on a cost and I got GoDaddy involved who handled the transaction from start to finish. I really can’t remember what happened or what it cost but I walked away with a decent sum and it was a totally secure transaction.

Might be worth a call/email to GoDaddy to see if they can help.

[M1AGM]

I sold some domains for a few £k to a guy in the US a couple of years ago. He paid, I transferred. Good old honesty.

Or use escrow services.

[22]

Someone clicked 'buy it now' for $3000 on a domain listed on Afternic / GoDaddy and the fee was $900. Useless domain to me so still grateful, but a chunky fee. They'll have dedicated reps for bigger money sales and they love a haggle so might be worth an ask.

I bought a domain that was advertised for 5-figures (after 4 years of speculative offers!). Due diligence was checking the sellers' company online and on companies house, VAT number, and speaking to the guy. I guess it could have been a scam.

[Panamax]

ADJimbo said:

how does one go about protecting the deal

Very simple, you don't release anything until you've been paid.

[ADJimbo]

Arnold Cunningham said:

Have a look at https://www.escrow.com/

Just to update this thread and for future record - I used escrow.com (thanks for the recommendation) and all went swimmingly.

[Arnold Cunningham]

Great. Thanks for the update