1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Selling site - Paypal question

Discussion in 'Making Money' started by Cdman, Jun 5, 2012.

  1. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    So, I might be selling one of my sites for a decent amount of money. The buyer is legit, but I'm still a bit nervous using anything like PayPal.

    My question is, if the person sends the money as a gift does that mean that I'm safe? (they can't try get a refund for a gift can they?)

    Thanks
     
  2. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

    Joined:
    Sep 24, 2008
    Messages:
    3,816
    Likes Received:
    13,921
    Use Escrow.com. Don't touch Paypal.
     
    • Thanks Thanks x 2
  3. dbyrn

    dbyrn Power Member

    Joined:
    Feb 20, 2010
    Messages:
    746
    Likes Received:
    224
    Occupation:
    helping people
    Yes, you can't reverse gift payment. However I wouldn't pay you that way if I were the buyer :).

    Anyway as meathead mentioned above if the sum is really decent use escrow.

    D.
     
    • Thanks Thanks x 1
  4. zherwin021

    zherwin021 Regular Member

    Joined:
    Feb 20, 2010
    Messages:
    331
    Likes Received:
    51
    Occupation:
    Yamaha
    Location:
    Outer Space
    Home Page:
    use Escrow buddy,
     
  5. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Well it's for $1,500 - that's a decent sum, right?

    Question about escrow - how exactly does it work? Will they send me a check if I'm in Europe?
     
  6. twohkz

    twohkz Regular Member

    Joined:
    Dec 21, 2011
    Messages:
    472
    Likes Received:
    222
    Occupation:
    IM
    Location:
    Earth
    • Thanks Thanks x 1
  7. VIC SEO

    VIC SEO Elite Member

    Joined:
    Feb 19, 2010
    Messages:
    2,156
    Likes Received:
    363
    Gender:
    Male
    Occupation:
    SEO Specialist
    Location:
    iSynergyMedia
    Home Page:
    Did you use flippa.com ,i always this service to sell website.It is safe and secure there .They had great support and transactions go very smooth.
     
  8. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Never used flippa and don't really see the point for this since I've already agreed a price :)
     
  9. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

    Joined:
    Sep 24, 2008
    Messages:
    3,816
    Likes Received:
    13,921
    Use Escrow.com if it's $1500. They will send you a wire if you're in Europe.
     
    • Thanks Thanks x 1
  10. Xpired

    Xpired Junior Member

    Joined:
    Jul 19, 2010
    Messages:
    196
    Likes Received:
    50
    Occupation:
    Free
    Location:
    BHW
    You Must get advice from meathead1234 <<he is master of flipping:D
     
  11. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Wire as in straight to my bank account? Isn't there a charge for that :( ?

    On the site it says a check/cheque is free but can you use that if the seller is in Europe? (ie. me)
     
  12. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

    Joined:
    Sep 24, 2008
    Messages:
    3,816
    Likes Received:
    13,921
    They will send you a check, but it will take about 60 days to clear if you're in Europe and the fees will be way higher than a wire.

    I think they charge about $40 for a wire... but it's well worth it for the added safety.
     
  13. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Thanks a lot for the info.

    Didn't think getting a check would cost that much in fees etc, maybe I'll have to get a wire then. But the fees are already at around $50 and then $40 for the wire :( its a decent bit of money.
     
  14. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

    Joined:
    Sep 24, 2008
    Messages:
    3,816
    Likes Received:
    13,921
    I cashed a dollar cheque in the UK recently and it cost loads (way more than a wire) and takes forever to clear.

    Yeah, might cost you about 100 bucks, but at least it's safe. Better than being $1500 down if the buyer tries to screw you over.
     
  15. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Yeah that's true. Plus I don't like receiving high amounts of money into my PayPal account :) thanks again
     
  16. dejanlesi

    dejanlesi Jr. VIP Jr. VIP Premium Member

    Joined:
    Nov 27, 2009
    Messages:
    603
    Likes Received:
    131
    You could go with EscrowDns.com, those guys transfer the money to your Paypal account as well as wire and check payment options. I used to use them for most of my domain deals and the proceedings were always smooth with them..
     
  17. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Quick question - started using escrow and they've received payment from the buyer.

    Do I just transfer the domain now and email the files to them through gmail (email address that I'm using)?
     
  18. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Upstate:

    Site sold :)

    Sold for $1750 but I only received ?1275 in my bank account (which is equal to $1600).

    Fees were $85 it says, don't know what happened to make the other money disappear? Exchange rates maybe?
     
  19. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

    Joined:
    Sep 24, 2008
    Messages:
    3,816
    Likes Received:
    13,921
    Yep, exchange rates. Some banks will take quite a big cut when doing FX. If you start doing it regularly, look into a multi-currency account so this won't be an issue.
     
  20. Cdman

    Cdman Power Member

    Joined:
    Jul 7, 2011
    Messages:
    608
    Likes Received:
    36
    Had a feeling that was it! Thanks for clarifying it.

    It was only a once off anyway, so I won't worry about it :)