What are the steps to take when buying a domain name already owned by another party?
You should change the nameservers immediately the domain hits your registrar. Make sure you have the nameservers pointed to some webserver. If you point it to Cloudflare, don’t leave it hanging. Make sure you add the names to your Cloudflare account and point them to an origin server (some webserver) you are pointing to.
Don’t let cyber miscreants hijack your domain name.
- You should be willing to pay escrow charges.
This could range from $9 to $’000s, depending on how much the transaction is worth and the provider chosen for the escrow service. Don’t rush anything. Domains are stolen and sold off to unsuspecting buyers. Money can be collected and domain not handed over. So escrow may be needed if the value involved is high.
- You’ll be expected to pay the escrow provider the agreed price for the domain name, the domain name seller will also transfer the domain name to the escrow provider. Then the provider hands you the domain name and hands over the money to the domain name owner.
- You should have a home for the domain name.
Prior to having the domain name transferred to you, you need to have registered an account at any good domain registrar. The escrow service would push or transfer the domain name to its new home – your own account with the domain registrar.
Some more tips for buying premium domain names:
- You can contact professionals to help you through it. You may even get a better price for the domain name if you hire a domain pro to negotiate on your behalf.
- You should also have options in case – again that’s where professional help may also come in.
- I’ll be glad to assist. You can leave a message.