Domain sale - invoice and payment concerns

[ChrisMM]

Hi everyone,

I'm not much of a domain seller and would appreciate some advice on the invoicing/payment side of things from the more experienced members on here.

I'm in the process of invoicing an end user for a domain and am wondering what the process would be if for example, the buyer reversed the payment once the domain was transferred?

The domain isn't a huge amount of money, but it's enough to make me weigh up the risk of standard invoice vs sales agreement.

Any advice welcomed!

 

[cc976a]

There are a couple of solutions in terms of the incoming payment. Ask buyer to pay either by wire transfer or BACS, and wait for the banks clearance terms, so the value has completely cleared your account.

Once so the payment can not be reversed, and you can safely transfer the domain. PayPal, on the other hand, could lead to a future reversed payment - and you'll need to spend time resolving.

If the buyer has concerns over you (like you them) an Escrow service allows comfort on both sides with a intermediate. Will eat up some profit on commission / fee charges - but cam be a solution for both parties.

Regular invoice is fine if following steps above - mark clearly to buyer that domain will be transferred upon completion of cleared funds.

 

[GotLiveChat]

+1 on cc976a's comment. You don't want payment type that could be disputed -- once the domain is transferred the registrar's won't get involved in disputes over payment & ownership.