Brandpa now offers sellers the opportunity to sell domains via instalments. This means a buyer can choose to spread their payments over (say) 6 months, and you receive payments for each of those 6 months. Your domain is protected in escrow during this time.
This is how they work:
- When a sale is made, you transfer the domain to Brandpa who hold it in escrow.
- You are guaranteed to be paid the first monthly payment no matter what.
- You will continue to receive monthly payments until the total value of your domain is paid for.
- If the buyer misses a payment the domain is returned to you and you keep everything you have been paid.
- If the buyer pays the total amount for the domain, then the domain is transferred to them.
- Brandpa pays for any domain name renewals during any instalment plan.
How to configure instalments
You can choose to enable or disable instalments. If enabled, you can accept them for up to 3, 6, 12, 18 or 24 months, at your discretion.
You can configure the default settings for all of your domains, and set different options for individual domains if you wish. For example, you may enable instalments by default, but disable instalments for one of your domains afterwards.
To set your default settings, go to Settings and click Set up instalments. When you change these settings, they will only affect new domains you add from this point. You can optionally choose to update the settings for all of your existing domains by checking the Apply these settings to all existing domains box.
To set the settings for an individual domain you have listed, go to Domains and Listed and click on Settings or Update settings next to the domain you want to edit. The option to enable or disable instalments appears at the bottom.
Note that once a domain has been sold via instalments, you cannot change the instalment settings for that domain, and you are still obligated to continue with the sale as agreed.
Viewing your existing instalment plans
If you sell a domain via instalments, you can view the status of any money you are owed under Finance and Instalment plans.
Pricing for instalments
If someone asks to buy a domain via instalments, Brandpa quotes them a price that is at least as high as the price for the domain divided by the number of instalments. The price is sometimes rounded up to make for an easier number: for example a $1,000 domain in three instalments might come to 3 x $334, which is $1,002. Brandpa also reserve the right to charge a slight premium for payment by instalments in the future, as we have to cover domain name renewal and escrow services.
Note: is you sell a domain name for, say, $1,200 on a 6-month instalment plan, the total amount you will receive for this sale would be $900 (which is $150 a month for 6 months).