Here are some aspects to consider when buying or selling a domain name:
Make sure there is some sort of contract or bill of sale that is in writing and signed by both sides. You don't want any surprises later.
Make sure this document specifies that this domain name is being sold and not leased or anything else.
Make sure the document provides for the fact that the new owner is the one and only owner (this is so that you buyers can make sure the seller is really selling only to you and not pulling a fast one).
Make sure the document includes the sale/transfer of copyrights and/or trademarks. If you are buying zyzyk.com and the seller has registered a trademark on The Zyzyk Company, which you're now taking over, you will want your contract to reflect that any trademarks and copyrights are now your property as well. You'd hate to buy that domain and then have the seller sue you for trademark infringement just because you're using it! :)
Consider using an escrow service, such as i-escrow. This allows a third party to get in the middle just for the money exchange. For the seller, this makes sure that the buyer pays on time, the right amount, and so forth. For the buyer, this lets your payment be in the hands of a neutral third party in case the seller backs out... that way, you will not have lost your money. Once the escrow service confirms receipt of payment, both parties can do what they need to complete the sale knowing that all is perfect and safe for both sides. Please note that escrow services do take a fee/commission, but you may find it's worth it for the security.
Make sure there is some sort of contract or bill of sale that is in writing and signed by both sides. You don't want any surprises later.
Make sure this document specifies that this domain name is being sold and not leased or anything else.
Make sure the document provides for the fact that the new owner is the one and only owner (this is so that you buyers can make sure the seller is really selling only to you and not pulling a fast one).
Make sure the document includes the sale/transfer of copyrights and/or trademarks. If you are buying zyzyk.com and the seller has registered a trademark on The Zyzyk Company, which you're now taking over, you will want your contract to reflect that any trademarks and copyrights are now your property as well. You'd hate to buy that domain and then have the seller sue you for trademark infringement just because you're using it! :)
Consider using an escrow service, such as i-escrow. This allows a third party to get in the middle just for the money exchange. For the seller, this makes sure that the buyer pays on time, the right amount, and so forth. For the buyer, this lets your payment be in the hands of a neutral third party in case the seller backs out... that way, you will not have lost your money. Once the escrow service confirms receipt of payment, both parties can do what they need to complete the sale knowing that all is perfect and safe for both sides. Please note that escrow services do take a fee/commission, but you may find it's worth it for the security.
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