October 23, 2022 | Posted in Website
Buying a domain name that has already been taken can be expensive, and if you are not careful, things could go wrong. In this article, we’ll show you how to buy a domain that’s already been taken and give you a few insider tips and tried-and-true ways to get a good deal.
A domain name is needed for every website. It is the address of your website on the web. If you’re uncertain what a domain name is or how it works, check out our beginner guide.
Top domain registrars charge between $10 and $15 to register a new domain name. You could also sign up with a hosting company like Bluehost, Dreamhost, etc., and get a domain name for free.
Then you can either come up with a new name or buy just one you desire from the person who already has it. Your business might do well to buy a domain name from someone who has already registered it.
If your domain name is taken with a.com, you might be tempted to use a different extension, like.net or.org. However, this cannot be good because people might forget your domain name and type in.com or.org instead.
You could even obtain in trouble with the law if the owner of the.com says you’re trying to steal their brand name. This is especially true if they have made it their trademark. Our article on selecting the best domain name discusses why you need an a.com domain.
Tip 2: Make sure the domain name isn’t a registered trademark
If the domain name is a trademark of a business that already exists, you might have to shut down your website completely in the future. A quick search in the US trademark database to see if another company is already using your domain name is a good idea.
You might also want to look at databases in your area. Even having a trademark in your domain name could be a problem. For example, you can’t use “WordPress” in your domain name.
Tip 3: Don’t get too attached emotionally
It’s exciting to start a new online business idea. Since your domain name is so important, it’s easy to feel strongly about a certain name. But you must be smart and logical about this and all other financial investment decisions.
We suggest you keep your options open and look for more than one domain name, or at least give them a lot of thought. This will help you negotiate the best deal for your domain name without paying too much.
Remember that premium domain names can cost anywhere from a few hundred to a few hundred thousand dollars. If you have choices, you won’t end up paying much money for a domain name that isn’t much better than something else that costs 1/10 as much.
Tip 4: See if a web page has ever been constructed there.
Make sure you use the Wayback Machine to look at the history of a website. Someone else may have already used the domain name. It’s fine if the domain name has already been used, but you should ensure it wasn’t used for anything bad, spammy, or illegal.
This might hurt the standing of your business and even lead to legal trouble in the future. If the domain has a Google penalty, it could necessitate a lot of effort and money to get rid of it. The Wayback Machine is a smart way to determine who owns a domain.
Tip 5: Determine the Value of the Domain
Domain names are hard to price. If you’ve never purchased a domain, you might wonder if your price is fair, too high, or somewhere in between. Well, the truth is that there are no rules about how to price premium domain names. The seller sets the price, and as a buyer, it’s up to you to decide if it’s worth your money.
Domain names worth a lot can cost anywhere from a few hundred dollars to a few thousand dollars. Some rarest premium domain names go for as much as a million dollars. If you’re new, you can employ a tool like EstiBot to understand how much the domain might be worth.
Tip 6: Know what you’re buying
Ensure you understand exactly what you’ll be getting. Or are you also going to buy a website? Does it come with all of its content if you buy the website? Sites that have been about for a while may use a lot of different plugins and tools for which the owner has licensed.
It’s unlikely that these licenses will come with the sale, so you’ll need to be ready to buy them yourself. You should also be clear about whether you are getting assets like the website’s email list data.
If you spend a lot of money on the domain name or website, you should have a lawyer write up a contract. Talk to someone who knows about Intellectual Property (IP) law. Even if it’s a small purchase, ensure you get at least the important details in writing.
Tip 7: Make sure you are buying from the domain’s owner
Picture this. You pay for a domain name, only to find out that someone else has already taken it. You never get your money back and don’t own the domain legally, either.
It sounds like a monster, but it can occur. Use a tool like DNS Trails to see if the DNS records have been changed recently. This is a good way to start. If you see something strange, you should ask why.
If you’ve only talked to the domain name owner by email, it’s a good idea to get their phone number so you can talk to them. Hackers can get into email accounts, and email addresses can be made up.
Tip 8: Use Escrow to Transfer Cash
You might be worried about buying a domain name, especially if you have to pay a lot. What if the seller brings your money but doesn’t give you the domain name? Use a location like Escrow.com. It’s the best way to handle it. You give your money to the site, and they keep it safe until you confirm that you’ve received the domain name.
Then, they give the money to the person selling the item. Escrow.com has been used to buy well-known domain names, like Twitter.com, Gmail.com, WordPress.com, and others. Escrow.com will charge you a fee, so keep that in mind.
Tip 9: Think about back ordering a web address you want.
Each day, thousands of domain names expire without being registered or renewed. A lot of businesses fail, or their owners lose interest in them. Sometimes, the domain owner might forget to re-register it. You don’t have to maintain an eye on the domain name to know when it will run out.
Instead, many services will keep an eye on the domain name for you. They will try to register it automatically as soon as they can. You can locate a backorder for a domain through either Network Solutions or GoDaddy. There are also a lot of other sites that do the same thing.