Hello, TGIM, and welcome to another Domaining MBA Monday. Today I wanted to talk about a critical topic and one that gets overlooked all too often. When you sell a domain for more than a few hundred dollars having a good contract in place can go a long way. While you might not think you need a contract, if a domain sale is ever disputed having a signed contract could be what you need to win your case.
At the end of the day it all comes down to trust. If you’re selling a domain name to a friend of yours then you might not need a contract, but if you’re selling to someone you’ve never met before, why do you think you can trust them? While I’d love to say that everyone on the Internet is going to be looking out for your best interest, this just isn’t true.
When you couple a domain sales contract with payment through an escrow service like Escrow.com then you have an safe and secure domain sales process. I’ve heard new Domain Investors say in the past that the reason they didn’t use a sales contract is because they couldn’t find or afford one.
Well I’ve got news for you, there are plenty of inexpensive/free options out there, below are a few different domain sales contracts you can get started with right-away:
- Internet Attorney Domain Sales Contract ($25)
- Domain Sherpa’s Domain Sales Agreement (Free)
- IPWatchdog Domain Sales Contract (Free)
- FindLaw Sample Contract(Free)
- Domain Name Sales Agreement ($19.95)
Pick one of the options above and use an escrow service for your next sales transaction and you can rest easy. It’s a simple step and as you can see from the options above there are some great free and very low cost options you can use from this point on. If you haven’t been using a domain sales contract yet, use this Domaining MBA Monday as your opportunity to make this a standard part of your sales process.