Many people confuse the transfer process as an escrow service but they are actually different. The three parties involved in the transfer process are: Sedo, the seller, and the buyer. The one similarity to an escrow service is the payment processing. In other words, the buyer makes a payment to Sedo, where we then hold the funds temporarily in our account until we transfer those funds to the seller upon confirmation of the domain ownership. This article will outline five tips to get the most of the transfer service at Sedo, and enjoy a fast and secure transaction at the same time.
#1: Communication with the Transfer Team
Domain sellers are seeking to get paid as soon as possible, while buyers on the other hand, want to get the domain they purchased as soon as possible. Sedo’s Transfer Team does everything in their power to ensure a fast, secure and smooth transfer process. In some cases, a transfer can take longer than expected, as one of the parties are not responding to messages or emails promptly. Make sure you are reading the instructions and requests sent by the Transfer Specialist thoroughly. Also, every time you initiate a step in the process, you should inform your Transfer Specialist as they can then follow up with the seller or the buyer, further expediting the transfer process.
Buyers should be aware that they have six days to send us payment for your domain transaction. There are three payment options at Sedo: PayPal, credit cards (Visa and MasterCard), and bank wire. Alipay is also available for customers who have a Chinese credit card/bank account. After the allotted period, the seller has the right to request that we cancel the transaction. The sooner you send us payment for the domain, the sooner we can follow up with the seller to prepare the domain for transfer. Also, if there are issues with transferring the funds, or you need more time to send us the payment, please let your Transfer Specialist know so they can inform the seller about any payment delays that may occur. Finally, if you made a wire payment, you can indicate in the transfer center that the payment is underway.
#3: Buyer’s Due Diligence
Buyers, please complete all of the necessary due diligence before purchasing a domain name. As not all TLDs (Top Level Domain names) are created equal, their transfer process may be different from registrar to registrar, and not all registrars will be able to support a specific TLD. With some ccTLDs (Country Code TLDs), may require that you physically reside in that specific country. Also, be sure to research whether you are legally allowed to use the domain name, and that you will not be infringing on any trademarks. Utilize sites like https://www.uspto.gov/trademark or http://www.wipo.int/portal/en/index.html in your research. Remember, it is your responsibility to make sure you can use the domain after purchasing it.
#4: Expediting the Transfer Process
There are preliminary checks that buyers or sellers can do during the transaction process, which can expedite the transfer. For buyers, it is imperative to indicate your selected registrar, allowing both the seller and transfer agent to know which registrar will receive the transfer of the domain. By knowing the buyer’s designated registrar, the seller can then approve a domain transfer request. As a seller, make sure to fill out your payment information including your preferred currency for the transaction. Currency options are located under the Transfer Details in the Transfer Center.
#5: Registrars & Enlisting a Technical Contact
Sedo understands that not all seller and buyers are knowledgeable about domain transfers, which is why you are assigned a dedicated Domain Transfer Specialist. He or she will support you throughout transfer process, but, unfortunately, they are not able to assist with the technical transfer procedures within your specific registrar. All registrars should have contact information readily available on their website or in their customer service center. In addition, you also have the option to enlist a “technical contact” which is someone with more technical knowhow then yourself. This technical contact will have limited access to your account, specifically the transaction information and can respond back to any inquiries from the Transfer Specialist.
Transfer Specialists are striving to complete each transaction as fast and securely as possible. We will assist you to the best of our capabilities to provide you with a smooth domain transfer. The above tips and suggestions detail what’s involved in the transfer process as well as what you can help us to make it a positive experience.
If you would like to know more abut Sedo's Transfer and Escrow Services, please visit our website where you can find more details.