After coming to terms on a deal, I like to close as quickly as possible. I’ve experienced enough times where a buyer or seller changes his or her mind, and I know that the more quickly a deal closes, the better.
People outside of the domain business often have questions about the closing process, and I provide them with in-depth details about the transaction. I try to give as much information as possible, while making it clear that the process is not complicated or difficult. I don’t want the other party, who may be busy with other day-to-day tasks, to feel that the process is cumbersome or going to take too much time to complete.
I am very responsive to emails and phone calls. I provide my cell phone number because people sometimes have specific questions about domain transfers. This also provides an additional level of service to show the other party I am a real person and happy to provide answers. Sometimes people are concerned about a domain name deal because they haven’t done one before, and just being there to share information can be reassuring to them.
When it comes time for the purchase agreement / contract, I provide that to the other party. Some people or companies prefer to provide their own, but when I provide it to them, it can make their life easier for their attorney. This is another time that it pays to be efficient because the other party can look at this as a cost saving measure.
After agreeing to a deal, I do what I can to make sure the entire domain name closing process goes smoothly. Although I am confident that a deal is legally enforceable when agreed upon, it could be expensive to litigate to enforce the deal. I have found that the quicker and more transparent to closing, the more likely it is that the deal will go through without problems.