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+--- Thread: Getting Started Buying And Selling Domain Names (/Thread-Getting-Started-Buying-And-Selling-Domain-Names)
Getting Started Buying And Selling Domain Names - Hashim - 12-16-2012
Hi there, everyone.
As you can see, I'm new to the forum, and new to domaining generally in that this is my first time seriously looking into buying or selling domain names. To make this thread a bit easier to answer to, I've highlighted my questions in bold so the entire thread doesn't need to be read for those questions to be answered, but I'd really prefer it if you could read the whole thread. 
My situation is this: I'm looking to get into the business of buying and selling the odd domain name here and there, and I need some help/pointers on a couple of things from people who know what they're talking about: hence why I'm here on a domain forum. I'd really appreciate it if the experts on this forum could help me out with my questions, point me in the right direction, and generally just provide me with some tips and warnings.
So, on to the questions that I came to ask. My first question is this: after doing a bit of research, I recently bought a co.uk domain name from someone. However, I've only just realised that it costs £10 to get Nominet to change the name of the domain name registrant, which is obviously registered to the person who owned it before me. This new development has really annoyed me, as none of the research that I did told me that I would need to pay an extra £10 (on top of what I've already paid to the original domain owner) to Nominet just to change the registrant. Why does it even cost £10? Surely that's far too much just to change who the domain is registered to? So, to start with, I just wanted to confirm that this £10 cost is definitely required to change the domain name's registrant, or am I missing something here? Does everyone else here that buys and trades in .co.uk domain names pay this cost per domain name, every time?
Second question: to be entirely honest, at the moment I'm worried that the domain name I've just bought may not be legally mine. Is buying and selling domain names perfectly legal and accepted: would I be recognised as the legal owner of this domain name now that I've bought it off someone? Is there any paperwork or documentation that I need in order to legally prove that I own the domain name? I really don't want to sell on this domain name only to find that it's not legally mine.
Lastly, I'd just like some general advice on buying and selling domain names. Does anyone here have any tips that they can give from their own experience, precautions on things to look out for, etc. I'd also really appreciate it if someone could give me a general overview of the domain buying and selling process: having never done it before, a brief overview of everything that takes place in the buying and selling of a domain name would be really really good.
Hope everyone can answer all the questions I have and help out this newbie in need. Once again, thanks so much in advance, I really do appreciate the help.
Getting Started Buying And Selling Domain Names - Hashim - 12-19-2012
Can anyone help?