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GoDaddy review : Good idea to order GoDaddy?? Domain Purchase Contract

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Hi,.

I'm planning on purchasing a domain in the coming months, with my budget capped at around $2,000.

When purchasing a domain of this value, is it a good idea to have a contract? What should the contract outline? Anyone got any examples / advice if I should have one.

Thanks.

Ryan..

Comments (6)

You really should'nt need a contract. I assume you want one to make sure money/domain are transferred properly. Just use something like escrow.com and you should be cool...

Comment #1

Hi Keith,.

Yes, that's my main concern.

Thanks for the advice, I will use escrow.

Ryan..

Comment #2

Actually, I would recommend the use of a clearly written contract whenever possible for it's legal effectiveness. Many "form" contracts are available for use, and you don't necessarily need a lawyer. A written contract not only removes ambiguity from a deal, but also provides a "meeting of the minds", where both parties are likely committed to the deal. Not to mention, it is better to be safe than sorry!.

Technically, you could have a "contract" without formally drafting one, just by showing offer and acceptance.

However, going Escrow route may be sufficient for your needs if you absolutely trust the other party...

Comment #3

If I was selling the domain and the buyer asked for a contract I would back out. I would be concerned about identity theft. I don't know you. Why should I give you all my details?..

Comment #4

How does a contract involve identity theft? As long as both parties are legitimate and willing to close the deal, a contract is in both parties interest...

Comment #5

How should I know the other person isn't a scammer? You are giving all your details to somebody you don't know and probably never will. The person could be a scammer. Identity theft typically works by getting personal information about you and then using that information to register a credit card or a shop card. Shop cards can then be turned into a credit card.

Those shops and credit card companies have got themselves covered with insurance. If there is fraud they don't take any loss. The person whose identity was used won't have any financial loss either but it is a real pain and you could have letters coming to your address for years and even bailiffs knocking on your door. Trust me, this is not something you would enjoy experiencing.

I'm not going to give a signed document with all my details and signature on it along with payment information to somebody I don't know and can't track just because I want to buy a domain. I'm not stupid...

Comment #6


This question was taken from a support group/message board and re-posted here so others can learn from it.

 

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