T.R.A.F.F.I.C. has partnered with Zenscrow.com to offer bidders guaranteed financing on the 2011 Domain Auction. Financing will be provided on select domains listed in a “Second Bite” auction.
How the “Second Bite” auction works: Sellers of domains listed in the 2011 T.R.A.F.F.I.C. auction can opt to include their domain in the “Second Bite” auction. In this scenario, after the initial bidding is done and reserve is not met, the reserve is revealed and any bidder in the audience can bid and buy that domain with just 25% down and up to 3 years (36 months) to pay the domain off.
Financing will be handled through Zenscrow, a secure way for buyers and sellers to complete monthly payment domain sales Zenscrow is a domain financing solution that enables sellers to securely offer monthly payment plans to buyers.
Similar in function to a Trustee, Zenscrow acts to ensure that the terms and conditions of the payment plan are followed by both parties. Throughout the payment plan term, the domain is held in escrow while Zenscrow continuously monitors the buyers use and development of the domain to prevent devaluation from misuse.
Benefits for Sellers Increase the chances of a successful sale by easily and securely providing buyers with monthly payment options. Sellers can also charge buyers interest for providing financing. Zenscrow makes payment plans easy and secure!
Benefits for Buyers Zenscrow is a cash-flow friendly way to acquire premium domain names that is easier and less costly than traditional domain financing. Buyers have full use of the domain while making scheduled monthly payments to the seller.
How Zenscrow Works
Step 1: Purchase Agreement Creation & Approval
Zenscrow creates a custom domain purchase agreement outlining the terms of the payment plan. The agreement is then emailed to both parties within 24 hours. Buyers and sellers review and sign the contract online using an electronic signature.
Step 2: Escrow
Our escrow service partner places the domain in escrow and transfers the initial payment from the buyer to the seller after deduction of any commissions payable on the sale. Parties have the option to use the escrow services of Escrow.com or NeuLaw.com.
Step 3: Buyer’s Use of Domain
The domain’s name server settings are pointed to the buyer’s chosen destination; enabling the buyer to fully develop or park the domain while making monthly payments.
Step 4: Monthly Payment Management
Our escrow partner transfers scheduled monthly payments from the buyer to the seller. Zenscrow sends both parties payment reminders and confirmation of successful payments.
Step 5: Domain Monitoring and Protection
Zenscrow continuously monitors the buyer’s use of the domain to prevent UDRP claims, Google penalties, domain seizure, and other issues that could cause devaluation. If any potential issues are found Zenscrow takes corrective action.
Step 6: Transaction Conclusion
Domain ownership is transferred to the buyer after the final scheduled payment is made.
Default: If the buyer fails to make a payment (defaults) the domain is transferred back to the seller. The seller keeps all previous payments.
T.R.A.F.F.I.C. Special Fees
The Zenscrow service fee is a flat monthly rate of 0.1666% of the gross sales price collected in monthly installments over the course of the payment plan term ($99.00 monthly minimum).
The Zenscrow fee covers transaction setup (including a custom purchase agreement outlining terms of the payment plan), management of payments, escrow fees, and continuous monitoring of the buyers use of the domain.
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