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I usually pay everything upfront. However, since it was a large dollar amount and I needed the funds for some better investments and to get me through, I made the offer of paying a deposit now and the rest within a few months.
I understand that his email and phone number will always be in the whois database and if someone calls him and offers him $50,000 he would be likely to think about screwing me over. That is the reason I don't want a contract saying:
"I sold this guy this domain for this amount and he gave me this as a deposit and i will give him the domain when i get the rest, signed bobby"
I am sure there are legal templates used out there by domain traders when they are purchasing or selling high cost domain names.
Since I already have somewhat of a paid paypal deposit request with a couple lines of explanation of the transaction, I don't think the seller will bail out of signing a more detailed receipt or contract since it only plays the smallest role in court and acts as a bit more intimidation.
The only way I can lose out in this deal is greed. I know that this seller is not going to just take my money and run but I know that if most people were in this position and got an offer for 10, 20, 30, or 40 thousand dollars more, they would consider screwing a customer they don't know since it will be a civil case and not criminal.
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