Due diligence on process of buying domain

[wednesday]

Hi,

I'm in the process of acquiring a domain name from a third party. Just to make sure I'm up to speed on the process I have a couple of questions:

1. What escrow service would people recommend (it's a GBP transaction)? I've seen https://www.transpact.com/ get recommended here before.

2. What's the exact process in terms of IPS tag changes and ensuring there's no 'interception' during the transfer process? What about legal ownership (as in the named registrant at Nominet) - how does that work so that it all transfers in one go and there's no risk of any ownership issues post-transaction?

Thanks folks.

 

[dee]

Not sure about escrow process, but the usual scenario with a uk domain change is that the current owner starts the transfer via nominets own process. They charge £10 & vat to be paid by either seller or buyer during process. You receive an email from nominet that allows you to plug in your details and also then choose a tag/registrar of your choice. You then recieve a nominet account to control the domain via their control panel. Although you'll need a assign a registrar to change nameservers etc as set by the tag.

Hope that makes sense.

EDIT. If the current owner is a TAG holder, theres the option to just release the domain to a new TAG. However its generally better to pay the nominet fee and do it that way so you can change owner details properly

 

[Sam]

Hi,

I'm in the process of acquiring a domain name from a third party. Just to make sure I'm up to speed on the process I have a couple of questions:

1. What escrow service would people recommend (it's a GBP transaction)? I've seen https://www.transpact.com/ get recommended here before.

2. What's the exact process in terms of IPS tag changes and ensuring there's no 'interception' during the transfer process? What about legal ownership (as in the named registrant at Nominet) - how does that work so that it all transfers in one go and there's no risk of any ownership issues post-transaction?

Thanks folks.

Yes transpact is fine.

If you proceed via transpact they will send the domain transfer and then once you have accepted you would click on release funds to them.

If they dont transfer the domain then the money will be held and you dont release.