From deal to transfer - how long?

[willbon]

Hi guys

I'd be interested to know what everyone's expectations are for the 'deal to transfer complete' timings on any domains purchased on Acorn...

Is there a 'service standard' that's an expectation?... i.e. within 24 hours of agreement being made, the transfer of funds and domain should be completed....?

 

[Edwin]

Too big a jump. I'd have chosen 3-4 days if it was on offer.

 

[willbon]

I meant from an agreement having already been made..... and therefore no longer on offer.

 

[monaghan]

I'd suggest a few days, this allows for people going away at weekends, being busy in their day job (if they are not a professional domainer)

I like to conclude transfers same day if possible, however, each customer is different! A traditional BACS transfer takes a few days for transfer, not everyone has a fast transfer option or want to use PayPal

 

[WealdDomains]

I agree with a few days for the reasons given, but would aspire to same day if possible, especially now with Faster Payments. Also, I would try to send proactive emails to set expectations and build confidence with the other party if something is likely to slow me down.

 

[namealot]

You should agree terms first.....?

Payment method sellers accepts ecscrow, bank transfer, brownpaper bag , paypal , TT etc all take different times… Also who you’re dealing with Corporations etc (lucky to get a payment in 30 days… Private sale can be a few hours..)

Personally I like all done and dusted ASAP but that’s not always practical for all sellers or buyers.. I try for payment within 7 days, transfer within 24 hrs of cleared funds …

 

[wb]

Whether buying or selling, I personally aim to have payment/transfer completed within hours.

However, would say that anything up to a few days is 'acceptable'. 48 hours gets my vote as it's the nearest option.

 

[AssetDomains]

I haven't delt with a big time domain deals I'm guessing the more expensive the longer it may take.
I have been involved in a fair few £xx and a handful of £xxx as both buyer and seller in both cases 90% of the time the deal is done within minutes to a few hours of the agreement. On the odd occasion it has taken longer its been when one party is not online I'd say 48 hours would be the max time depending on the price of the domain

 

[Aaron Clifford]

I had an £x,xxx deal that took around 30 days (to go through their invoicing team).

 

[Bailey]

I meant from an agreement having already been made..... and therefore no longer on offer.

Well thats not a "sale" to my mind

It really depends on the tone of the negotiations - If it took 4 months to conclude then I cetainly wouldn't expect payment in less than about 4 weeks from agreement

However, you contact me "today" - domain with-you same day - You better pay me as quick

 

[Edwin]

However, you contact me "today" - domain with-you same day - You better pay me as quick

Does that mean you release the domain first? That sounds like you're handing over your strongest point of leverage against malignant buyers...

 

[Bailey]

Does that mean you release the domain first? That sounds like you're handing over your strongest point of leverage against malignant buyers...

To be honest Edwin - I'm quite happy to transfer the domain first (with qualified buyers) never lost one yet.

A lot depends on who your dealing with ? and how the domain came to be sold to its buyer. Best time/to money ratio ever spent