The process can be as follows:
You both agree a price in writing.
He pays you or a third party (escrow) service that amount of money and perhaps any commission due to that third party.
You then write off to Nominet and ask for some transfer forms - email
[email protected] and state the domain name in question.
You receive the forms and fill in the bits of the form (first two pages or so) that relate to the seller.
You write a letter on your letterhead if you're a company or a letter with your address on it and enclosing a photocopy of your passport or driving licence as proof of your identity.
you then send these forms by registered post to the buyer.
He/she fills in the form, does their own letter in a similar fashion, adds in a cheque for £35.25 payable to Nominet
and sends it off to Nominet.
Nominet will then change the details of the domain to the new registrant (the buyer) all details except the TAG name which he will need in order to administer it.
You need to go to the company that sold you the domain and ask them to change the IPS TAG to the buyers registrar.
The buyer goes to their registrar and requests a transfer inward of that domain.
Collect your money from escrow.
Spend it.
Repeat.
-aqls-