Buying a domain privately - how not to get ripped off?

[10JH]

Hi guys

I've agreed to buy a domain off someone. Is there anyway I can ensure that it all goes smoothly? At the moment we've agreed a price and he has said he will transfer ownership after payment has been received.

He sounds like a decent chap but I just want to be safe!

Thanks

[mrmr96]

Draw up a contract and have you both sign it before funds are transferred. You can then sue him on it if he tried to rip you off. Also, make sure you verify the identity and location of the person you're dealing with, so get a copy of passport/driving license and a recent utility bill.

^ Note, the above assumes it's a decent domain and therefore a decent amount of money is involved. If this isn't the case then maybe use paypal? You will be expected to pay about 4% more than the price, to cover the fees, but at least you'll have some recourse to reclaim your money if it goes sour.

[10JH]

Cheers for that.

It isn't a very valuable domain name, I think I might take your advice and use paypal then.

[eps]

Paypal will only cover your costs if you purchase something through EBay.

[10JH]

Is there any such thing as a holding service that will only transfer the domain rights once the buyer agrees to?

[Roop]

10JH said:

Is there any such thing as a holding service that will only transfer the domain rights once the buyer agrees to?

escrow ...?

[Rico]

eps said:

Paypal will only cover your costs if you purchase something through EBay.

Get him to setup a bin auction, email you link and you click straightaway. Would then have the ebay fees to add on top, but you'd be protected.

[eps]

Roop said:

10JH said:

Is there any such thing as a holding service that will only transfer the domain rights once the buyer agrees to?

escrow ...?

ding!

talk to a solicitor about this...

[mrmr96]

eps said:

Paypal will only cover your costs if you purchase something through EBay.

Not strictly true. Details here:
https://www.paypal-marketing.co.uk/safetyadvice/Pr...
Basically if not using ebay you only get a refund if there are funds in the account. Still better than a personal cheque or bank xfer.

A legit escrow service may be appropriate if fees are ok. (paypal isnt an escrow service).

[eps]

mrmr96 said:

eps said:

Paypal will only cover your costs if you purchase something through EBay.

Not strictly true. Details here:
https://www.paypal-marketing.co.uk/safetyadvice/Pr...
Basically if not using ebay you only get a refund if there are funds in the account. Still better than a personal cheque or bank xfer.

A legit escrow service may be appropriate if fees are ok. (paypal isnt an escrow service).

Not, not strictly true...

Eligibility Requirements

* Claims can only be made for physical goods that can be posted and are not prohibited.
* Buyers must raise a dispute within 45 days of a single PayPal payment for the full price of the item. If no satisfactory response is received from the seller, a claim must be filed within 20 days of raising the dispute.
* Buyers cannot make multiple claims on the same payment.
* If the Claim is decided in your favour, your recovery is limited to the amounts that PayPal can recover from the seller's Account.
* Other eligibility requirements apply. See terms and conditions.