Domain Name Sales Receipt / Contract

umm How much was your domian name that you had to put a deposit on it?

Just write the terms of the contract down and both sign it and that should do the trick...

Let's say $20,000 with a $5000 deposit to be on the safe side. It somewhere along those lines.

A contract is more intimidating when in lawyer terms. Writing something like I agree to sell this guy this domain for this amount will work but a lawyer template is more professional, secure, and usually free.

escrow.com

If you have already pt a deposit down having a contract is pointless.

Getting a contract should be done PRIOR to paying the deposit. If the current owner decides to screw you over.. you are shit outta luck

Regards,

Lee

Better to get a contract signed now if you can than to not get one at all. The guy may have no intention of screwing you over, but maybe someone will come at him with a $50k offer, and he'd sell it for the 50k and return your deposit or something.

Personally I'd go with the handwritten contract as well. Just be clear about details, describing the entire transaction (including your down payment), rules like he can't back out and sell to someone else, when and how you're supposed to pay him the remainder (wiring is best, with wiring details in the contract, so he can't say "never got the check), what happens if you're late in paying him, what happens if a domain hijacker steals it during the two month period, and so on.

You might want to add a sentence saying that in the event of a dispute, parties agree to abide by binding arbitration by a licensed arbitrator of the (sellers?/buyers?) choosing in the state of X. Keeps legal fees down in the unlikely event things get nasty.

And throw on one of those "If any part of this contract should be disallowed or made void, the parties agree that the remainder of this contract shall continue to be in full force and effect" clauses.

Deposits on domains is really tricky over time.

Owner has admin contact--any offers they get in an appreciating domain market can challenge your deposit. If the market depreciates, you're stuck.

The seller wins under this arrangement. Makes more sense to buy it out for less.

Never buy a domain name over time. A cash transaction or move on to something else. If it's big bucks a legal contract is smart.

Maybe KRL will jump in with advice? He knows the ropes for sure!

Looks like a perscription for a rip-off?

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.

bump

I've got a contract that covers everything for this type of transaction.

You should have posted prior to the initial deposit.

I can't give it to you for free since it cost me a lot of legal fees and several attorneys to develop to my exact customized needs.

But I'll provide it to you for a nominal amount that would be far less than if you went out and hired a law firm to do it.

[email protected]

Ok I sent you an email. Not looking to spend to much but if its decent than sure. I didn't have time to write up a contract before sale as it was up on auction and ending shortly and I made a private offer so nothing prevents another person from coming a long an hour later and doing the same