Are there any gotchas/pitfalls when selling a domain name through Sedo?
December 17, 2013 10:50 AM Subscribe
I have never sold a domain name before but it appears I'm about to do so now. Yay! An offer was made to me by a buyer through Sedo and after some email negotiations we have arrived at an acceptable price and presumably the process of transfer and payment is about to begin. Having never done this before I am wondering if there are any pitfalls and gotchas I should be watching out for. Specific details inside.
posted by Hairy Lobster to Computers & Internet (1 answer total) 1 user marked this as a favorite
Here are the specifics of the offer
- buyer has agreed to a specific price of $AMOUNT USD
- buyer will cover any Sedo commission payments that apply
- the Sedo rep stated that I will "net" $AMOUNT USD because of the buyers willingness to cover commissions
Here is my own details as well as my understanding of the process as far as I can gather from Sedo's page and some Google research:
- my domain is registered through Network Solutions
- Sedo appears to be headquartered in Germany but I'm located in the US
- my bank accounts are in the US
- Sedo will place the buyer's money in an escrow account
- transfer of the domain will be initiated and completed
- Sedo will then transfer the money to me
My question is: are there any pitfalls and gotchas I need to look out for with regards to the process and with regards to Sedo as a broker? Or is this a fairly simple process with no surprises and Sedo can be trusted to do what they're supposed to?
Is there anything I should request from/discuss with the Sedo rep before getting started, any surprisingly large fees and charges associated with the (possibly international) transfer of the money beyond the commissions covered by the buyer or any other issues I should be addressing/expecting to have to deal with?
I'm aware of the possibility of charges on the side of my own bank associated with the transfer as well as of the possibility that the transaction will be reported to DHS/IRS by my bank and I have no problems/questions with regards to that end of the transaction. I'm only looking for information with regards to dealing with Sedo and the front end of the transaction.
Thanks for any information/advice you may have!