So you’ve finally found the domain you’re looking for and have agreed on a price with the second party, kudos! This article covers buying a domain from a person that’s willing to sell it, not an unregistered domain. Normally second-hand domains go for anywhere between $50 to a couple million dollars.

Don’t Buy a Domain Without Changing the Owner Information

This one’s pretty straight forward, while transferring the domain to you, make sure you change the ownership information. Else, the seller can later claim the domain back and you might end up losing the domain because the ownership information proves that the domain is his.

Don’t Just Pay The Asking Price

Meaning, if they’re asking for $5,000 don’t just email them “hey, I want buy your domain for $5,000”. Domains are almost always up for a haggle so negotiate and be smart about it. I saved a ton of money on a domain that was available for $10,000 and managed after some negotiation and reasoning take it down to a bit below $4,000.

Solution

Email the buyer asking to buy it for 70% of the price you want to pay, after some negotiation take it up to 90% and finally 100% + end it with an odd number.

Example: Buyer is asking for $15,000. You are willing to pay $10,000, so you start by asking to buy it for $7,000. After some back and forth take it up to $9,000 then finally up to $10,000 however don’t offer exactly $10,000, end it with an odd number like $9,947 or $10,153. The reason being is odd numbers sound much more serious, it looks like you’ve really calculated how much you’re able to spend and have offered the maximum you can offer the seller.

Don’t Pay The Seller Directly

This is a big no! It’s way too risky especially since they can simply disappear and ignore after you pay. Use an escrow service, they receive your money, then ask the seller to transfer the domain to you, once that is done; the escrow service will release your money to them. Most domain sellers either use dan.com or sedo.com.

Don’t Agree to Pay Any Transfer Fees

The seller might ask you to pay 5%-10% additional fees on top of what you will already pay as a transaction fee for the escrow service provider. This fee is normally paid by the seller. Have you ever paid with your credit card and paid an additional 2.5% fee for using your credit card? No, because it’s the seller/shops’ responsibility cover these fees.

Solution

If the seller asks you to pay any transaction fees, tell them this was not part of the agreement and it should be covered from their end.

Don’t Make An Account in a 3rd Party Website to Transfer Your Domain

If the seller asks you to make an account in a domain registry website to transfer your domain, this can mean shady business. It is not recommended to transfer a domain that way

Solution

Tell the seller you already have a domain register website, and you’d rather they send you the domain unlock code to you can transfer your domain there

Hope these insights help! Let me know in the comments if you have any questions