What Happens After You Agree on a Price? Completing Your Domain Sale Off-Platform

You've Agreed on a Price on Domainly – Now What? Completing Your Sale Safely

Congratulations! You've connected with a buyer or seller on Domainly (domainly.shop) and negotiated a price for a domain name. This is a huge step, made possible by Domainly's direct chat connection model.

But what happens next? Since Domainly operates on a zero-commission basis and prioritizes flexibility, we don't handle the actual payment processing or domain transfer. This keeps costs down (no commission!) and gives you complete control over how you finalize the deal.

While this freedom is great, it means the responsibility for a secure transaction lies with you – the buyer and seller. This guide outlines the common steps and best practices for completing your domain sale smoothly and safely after connecting on Domainly.

Handling the Payment Securely

Once a price is agreed upon, the first crucial step is payment. Never initiate a domain transfer before securing payment (if you're the seller) or send payment without a clear agreement on the transfer process (if you're the buyer). Here are common methods:

• Domain Escrow Services (Highly Recommended, Especially for High Value):
  • What it is: A trusted third-party service (like Escrow.com, the most well-known) holds the buyer's payment. They only release the funds to the seller after the buyer confirms they've received the domain transfer. Conversely, the seller knows the funds are secured before starting the transfer.
  • Pros: Highest level of security for both parties, reduces risk significantly.
  • Cons: Incurs a fee (usually split or paid by one party as agreed), adds a step to the process.
  • Best for: Domains valued over a few hundred dollars, or any transaction where maximum security is desired.
• PayPal:
  • What it is: A widely used online payment system.
  • Pros: Fast, convenient, familiar to many. Offers some buyer/seller protection for goods and services payments (ensure you use this option, not "Friends & Family").
  • Cons: Protection policies for intangible goods like domains can be complex; chargebacks are a potential risk for sellers. Fees apply.
  • Best for: Lower-value domains where both parties have some level of trust.
• Stripe or Similar Payment Processors:
  • What it is: If the seller has a business account, they might invoice the buyer via Stripe.
  • Pros: Professional invoicing, secure card processing.
  • Cons: Less common for simple P2P domain sales unless the seller is a regular business. Fees apply.
• Wire Transfer:
  • What it is: Direct bank-to-bank transfer.
  • Pros: Funds are generally irreversible once received by the seller.
  • Cons: Offers little protection for the buyer if the seller doesn't transfer the domain; requires sharing bank details.
  • Best for: Situations with extremely high trust, often between established business partners. Use with caution.

Recommendation: Discuss and agree on the payment method before proceeding. For most significant domain sales originating from a marketplace connection, using an escrow service is the industry standard and provides the best protection.

Step 2: Transferring the Domain Name

Once payment is secured or released by escrow, the domain transfer can begin. This process involves coordination between the buyer, the seller, and their respective domain registrars (like GoDaddy, Namecheap, Spaceship, etc.).

• Seller's Responsibilities:
  1. Unlock the Domain: Log in to their registrar and remove any "registrar lock" or "transfer lock" on the domain.
  2. Obtain Authorization Code: Request the domain's "Auth Code" (also called EPP code or Transfer Key) from their registrar. This code is essential for proving ownership and authorizing the transfer.
  3. Provide Auth Code to Buyer: Securely send the Auth Code to the buyer.
• Buyer's Responsibilities:
  1. Initiate Transfer: Log in to their chosen registrar and start the domain transfer process, providing the domain name and the Auth Code received from the seller.
  2. Approve Transfer: Both buyer and seller may receive emails from their registrars to approve the transfer. Prompt approval is needed.
  3. Pay Transfer Fee (Usually): The buyer's registrar typically charges a small fee, which often includes extending the domain registration by a year.

Timeline: Domain transfers usually take 5-7 days to complete after being initiated and approved, though this can vary slightly between registrars.

Key Considerations for a Smooth Transaction

• Communication is Key: Keep lines of communication open throughout the payment and transfer process. Confirm steps have been taken and address any delays promptly.
• Due Diligence: Before paying, buyers should perform a WHOIS lookup to check the domain's status (ensure it's not locked or expired) and confirm the seller appears legitimate.
• Written Agreement (Optional): For higher-value domains, a simple written agreement outlining the domain name, price, payment method, and responsibilities can add clarity, even if it's just via email confirmation.
• Security: Never share your registrar account password. Only share the Auth Code once payment is secured. Be wary of phishing attempts.

Domainly: Your Connection Point

Remember, Domainly's role is to connect you directly with potential buyers and sellers in a commission-free environment. We provide the platform for discovery and negotiation. By handling the final transaction steps directly or via a chosen service like escrow, you maintain control and avoid the fees charged by traditional, full-service marketplaces.

Completing a domain sale requires care, but by following these steps and prioritizing secure methods, you can finalize your deal confidently after making that initial connection on Domainly.

Ready to find your next domain or list one for sale commission-free on our marketplace? Head back to Domainly.shop!

Disclaimer: Domainly provides this information as guidance but is not responsible for transactions conducted off-platform. Consult legal advice if unsure.