Most smart business owners buy an already existing domain name, instead of registering a new one. Buying an existing domain name is beneficial in many ways. It has existing traffic, it’s already optimized for search engines, and it has the key qualities of a great domain name, such a short and keyword rich. Therefore, creating your business website using this kind of domain name gives you an edge over the competition.
An Escrow account can help you buy a domain name safely
When looking to buy a domain name over the internet, you’ll be dealing with someone you’ve never seen and know nothing about. So you can’t just send your money over without any form of security. This is where Escrow comes in. Escrow is an autonomous third-party agent that facilitates the safe purchase of products and services online. Ideally, it acts as a middleman that keeps your money and only releases it when you’re satisfied with the product or service you’ve received. You can leverage domain name Escrow services to buy a domain name from another person without the risk of losing your money. There are multiple domain Escrow services out there, including Sedo, Escrow.com, and Moniker that you can leverage to buy a domain name over the internet.
The specific steps to help you buy a domain name from another person online
For example, you’ve scoured the internet and found a good domain name being sold by another person. You’ve contacted the person and agreed on the price. The big question is: How do you pay for the domain without getting conned. The surefire answer is Escrow and here are the steps to buying the domain name with the service:
First, you have to put up an account with Escrow. The seller should also do so. Both of you will then need to write out the terms of the transaction. The terms should factor in the domain name and its price.
Second, you’ll need to make the payment to the Escrow Company. You can use Paypal, credit card or wire transfer.
Third, Escrow will direct the seller to dispatch the domain name to you once they verify your payment.
Fourth, determine that the domain name has been surely transferred to you. Utilize tools like WHSR Web Host Spy and WHOIS to determine whether the domain profile has been updated.
Fourth, the domain name seller receives the money
Once you’ve checked everything and are contented that the domain has been transferred to you, you can activate payment for the domain name from your Escrow account. It’s that simple.