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Domain Name Buyer's Guide
Buying a Domain Name from a
domain reseller or individual owner can be a difficult, costly procedure,
which is why we at HostSearch have come up with some tips on the
domain buying process, and a step-by-step guide to save you time
and money.
Tips When Buying a Domain Name
- Remain Anonymous
When purchasing a domain name, it is essential to remain as anonymous
as you can throughtout the entire process, in order to keep the
price as low as possible. Domain names do not have fixed prices,
and therefore the price of a domain name comes entirely from negotiations
between buyer and seller.
- Do Not Disclose That You Plan to Develop a Site
If a domain name reseller or individual knows that you plan to
develop a web site, specifically a commercial website, the price
of your name will skyrocket, and you could end up paying five
to ten times the market value for your domain name.
- Do Not Disclose Your Full Name or Personal Information
It is extremely easy for someone to find out a great deal of information
concerning you and your personal financial situation over the
Internet. Therefore, it would be a good idea to create an alias
web-based email address to conduct your negotiations.
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Step One: Is the Domain You Want For Sale?
The first step in the domain purchasing
process is determining whether or not the domain name you want is
for sale. In order to obtain this information, try visiting the site
in question. When you visit the site, there are a number of possible
results, which are covered individually below:
- You discover a functioning, operational site.
If this is the case, it is very likely that the domain name is
not for sale, however, you may still want to write an email to
double check.
- You discover a "For Sale" page.
This is a good sign, as it means the name is available; however,
before you put in a bid you should do some research concerning
the market value of the domain name, which could save you a quite
a bit of money.
- You discover a page inviting you to join a domain broker
or auction site to bid on the name.
This is also a good sign, as it means the name is available, but
again, before you put in a bid do some research on the market
value of the name.
- You discover a generic "bookmark" page, from a domain registrar.
In this case you will have to conduct a WhoIs Search to determine
the owner of the name, and then contact him/her by email.
Step Two: Creating a Budget
After you have determined the availability of your desired domain name, the next
step is creating a budget for the purchase of your name, and getting a reliable
estimate of its value. You can get a decent estimate of the value of a domain name
by getting it appraised online for a small fee. Another way of creating a budget for
purchasing domain names is to make an estimate of how much the name means to
you, and in commercial applications, your business. Regardless of how high or low
you set your budget, it is extremely important to abide by it. Getting caught in a
bidding war for a domain name is a great way to end up paying way too much for
your domain name, especially when there are plenty of good domain names available
for purchase.
Step Three: Deciding Where to Buy
After you have decided to purchase a domain name, you need to decide where you
are going to purchase it from. There are several methods of purchasing a domain
name, including private sales, through a domain broker, or via auction. Each of these
methods has a variety of advantages and disadvantages, which we have broken
down for you below.
- Private Sale
Private sales are the most complicated way of purchasing a domain name, and
also the most risky. That being said, private sales can also be the cheapest
way of purchasing a domain name, and are not subject to comission fees.
Think twice before you try to purchase a domain name privately, because you
will be responsible for transferring the domain name, and will also have to deal
with how to arrange payment, escrow, etc.
- Negotiated Sale via Domain Broker
This is probably the most convenient way of purchasing a domain name, as you
will be guided through the entire process, and will also be able to remain
anonymous throughout. However, some domain brokers charge a fee for
buyers. In addition, the purchasing process is likely to take a long time, and
you will probably have to make the initial offer, which puts you at a
disadvantage. If you do decide to use a domain broker, make sure to bid low,
and increase your bid in small increments.
- Sale via Auction
This is probably the riskiest way of purchasing a domain name, but can result in
a low cost, quality domain name. With domain auctions, you must be careful
not to get caught up in a bidding war, as you can never be sure that the other
bidders are truly interested or not. In addition, most domain auctions require
some sort of membership, and can take a long time to complete transactions.
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WhoIs Searches
WhoIs Searches are the best way for you to find out contact information about any
registered .com, .net, or .org domain name. Simply enter the domain name you want,
and either .com, .net, or .org in the search box provided below.
If the domain name you want was registered with Network Solutions, a WhoIs Search
will not provide you with the email address of the domain name owner. In this case
you will have to use the administration contact email for your inquries. A number of
domain resellers use their WhoIs Search ID's to display the availability of their domain
name, so if you get a WhoIs ID like this: BuyThisDomainName@anymail.com, you can
move along to the bidding process.
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