question about selling a domain
 

I have sold a domain to a record label, and have agreed upon an amount to be paid to me. But I am unsure on how the selling of a domain name is done.

Should I ask to be paid before I transfer the domain?

Should I trust the other party (I have an email indicating that they agree to the purchase of the domain), and transfer the domain before being paid?

Whats the usual practice for this? My gut feeling tells me to get paid before transfering the domain, even though I have an agreement to be paid.

I would get paid, and then transfer it just to make sure.

here is what their lawyer is telling me via email

"Once we receive confirmation that your consent to the transfer has been given and that the domain has been transferred to XXXXX Records, Inc I will arrange to overnight you the check for $XXXX.00. "

I just dont feel comfortable with that.

Let them put it on paper, sign it, and send it by mail.

thanks for the replies guys.. anyone else have feedback?

I am thinking of replying back to his email and ask for a check to be certified mailed to me, and after I sign to recieve the mail/check, I will transfer the domain to them. Does this sound ok?

heya aflex, try escrow.com
It might work for you
https://www.escrow.com/index.asp

Best thing to do.

Cheers,
Matt

Tell them to use this... http://escrow.com/

If you are dealing with an attorney, you probably don't have much to worry about

i'm on the fence on this one.. he obviously knows more law then me, and could dick me over on some technicality.. or he could be honest in the deal.

i'm looking into escrow now

I highly doubt he would want to risk sanctions from the bar, or a malpractice suit over this

You can have an attorney put it into escrow and then when they deliver the check to the attorney it gets automatically released to them.

Yeah, if he's a good attorney he should understand and respect escrow.
Use escrow, don't risk it otherwise (if they decline using escrow, I would find another buyer).

Either make them pay you first or go through an escrow service and make them pickup the costs.

Thats what I would do anyways.

Yeah, I am stating this in my respone. Escrow is my first option, the second option is that I receive the check as Certified Mail, then transfer the domain to them.

Thanks for your input guys :thumbsup