What happens once you’ve agreed to purchase a domain name?
After all the negotiations, how does the buy actually get the new domain name?
Depends on how you bought it. For instance if you used GoDaddy auctions, all their transactions over a certain price automatically go through an Escrow service ie. a third party takes control of the domain and takes your money – then they give your money to the seller and pass on the domain to you.
Otherwise, you need to be able to trust the seller to hand the domain over (This is why Escrow services are used). The simplest way I can think of is that the owner tells his registrar that he is going to move the domain to your registration service. I think they will then issue him with a release code. You go to your registration service (I use 1and1 internet) and tell them you want to add this domain to your account. They will ask if you are entitled to take control of it – it should be a simple process of giving them the release code and they will transfer it to your account.
After that you can do what you want with it….
Not done this myself, but have registered plenty of domains from scratch, and transferred my own domains to different registration services.
July 11th, 2011 at 2:40 am
Usually you do this through a broker like http://Sedo.com or better still http://Escrow.com and they will walk buyer and seller through all the steps for a secure transfer of domain ownership and payment.
References :
July 11th, 2011 at 3:22 am
Depends on how you bought it. For instance if you used GoDaddy auctions, all their transactions over a certain price automatically go through an Escrow service ie. a third party takes control of the domain and takes your money – then they give your money to the seller and pass on the domain to you.
Otherwise, you need to be able to trust the seller to hand the domain over (This is why Escrow services are used). The simplest way I can think of is that the owner tells his registrar that he is going to move the domain to your registration service. I think they will then issue him with a release code. You go to your registration service (I use 1and1 internet) and tell them you want to add this domain to your account. They will ask if you are entitled to take control of it – it should be a simple process of giving them the release code and they will transfer it to your account.
After that you can do what you want with it….
Not done this myself, but have registered plenty of domains from scratch, and transferred my own domains to different registration services.
References :
http://www.livewyre.net/cheapwebhosting.php