Way to Deal With a Skeptical Buyer without using Escrow


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Last week I sold two domains, both local geos to endusers  in a small market for mid $xxx. Both of the buyers wanted the domains, but they were not very comfortable on the web and with sending me money online. After I showed them whois data to prove my ownership they were a little more confident, but still skeptical.

I then explained everything out and offered to use an escrow service, but they thought that was going to complicate things even more and seemed pointless for the small value of the transactions.

One of them suggested that he could send me half the money and then I would transfer the domain. Then he would send the second half of the money. I know I could easily get cheated out of half of the money, but I trusted theses people and both sales went really well.

For low value sales I am going to try out CAX in the near future which looks like it would work well for this type of situation.

The half and half payment method I used, ended up working out well. The buyers went home happy and they felt secure about the whole transaction and I sold two domains, so I was happy. Sometimes you have to be creative and trust people when selling domains.

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Comments

2 Responses to “Way to Deal With a Skeptical Buyer without using Escrow”

  1. Jeff Edelman
    December 22nd, 2010 @ 10:52 am

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    For small domain sales, I could see that 50% down, 50% later payment schedule working out well. I would just make sure that you have it in writing that if they renege on making that second payment, that you not only keep the 50% initial payment, but make sure that they will be responsible for all legal costs associated with the process of you retrieving the domain, plus a penalty fee for putting you through that nonsense, plus late fees. Don’t make it easy for somebody to be able to take your domain at only 50% of the agreed upon price.

  2. ABe Aut
    December 23rd, 2010 @ 9:02 pm

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    I had an unfortunate case on flippa last week, when I requested escrow, the buyer became unresponsive and I lost the deal. My current strategy now is selling on ebay, since buyers pay before I send the domain and my 100% feedback and paypal insurance clears any doubt.

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