FAQ's

FAQ's

I want to buy a Website. What are the "secrets" of the economy at the auction? What is the current price and Buy it now price?

Trading on TradeMySite, you must understand the meaning of these prices:

Current price - The price of the last bid on the auction. If there are no Bids on an auction, the current price shows the starting price of the auction.

The Reserve price - The price below which the seller is not guaranteed to sell the auction.

BIN price - The price at which the seller immediately sells the Website/Domain.

The obligation to sell the Website/Domain appears to the seller only, if the offered price is not less than the reserve price. Therefore, if you think the reserve price is affordable, it makes sense to start trading with the price not less than the reserve price.

If you believe that the reserve price is too high, or your interest in the auction is not so high to buy it at the best price, start trading with the price less than the reserve price. Based on our statistics, the probability that the auction will be sold even at a rate lower than the Reserve price is equal to approximately 45%. And the closer the rate to the Reserve price, the higher is the probability. That is, the rate below the Reserve price - this is a good way to save a lot of money, but there is a possibility that the seller refuses to sell at the rate below the reserve price.

If you like the Website/Domain and even BIN decision does not seem much higher, it makes sense to give immediate buyout to instantly win the auction.

 

How does TMS protect the Buyers and Sellers?

The main task of TMS - The protection of the buyers and sellers to the transaction in dispute. Typically, the buyer takes the help of TMS when the actual site (domain) characteristics are different from those stated in the description of the auction. There may be other reasons for Lodging a dispute. It is important to understand the following rules:

1) TMS Dispute Handling team would carefully study the arguments of the parties in dispute, they will match the characteristics of the site (domain) stated in the description of the auction and other necessary information.

2) The TMS Dispute Handling team shall decide on the basis of rules and Offers service, as well as the facts and circumstances relating to the situation.

3) The TMS Dispute Handling team decision shall be binding on both parties of the transaction.

4) Referring to TMS Dispute Handling team buyer must reasonably describe the complaint to the seller, and a detailed reply to the TMS Dispute Handling team.

5) If the TMS Dispute Handling team acknowledged the deal fall through due to the fault of the seller, when the domain and/or the site have been transferred, the buyer shall, not later than 5 days (after Hold) to renew the domain name and the seller to return the site. Until the full return of the domain and/or the site the buyer has no right to use the site for their own purpose but is obliged to ensure its efficiency (prescribe the necessary DNS-server). If after 48 hours warning of TMS Dispute Handling team, the website is not functioning because of the buyer, it is equivalent to the use of the domain and/or customer site and entails the automatic completion of the transaction.

 

Can I cancel a bid for the auction?

No, canceling a bid is technically impossible.

If after you bet:

•    It turned out that the seller has entered inaccurate information about the site and domain and is misleading the buyers - we cannot cancel the bet but If you have placed a bid on this auction, you should immediately apply to the TMS Dispute Handling team system. Specify the reason for the cancellation, specify which data is given incorrectly by the seller. If your data is confirmed with adequate proofs, the seller will be suspended until he corrects all the mistakes, and you, as the buyer, there is no charge to buy the site (domain).

•    It turned out that the auction or seller violates the rules of the system - you need to send a complaint to the technical support. Violations will be stopped until the cancellation of the auction and/or suspending or banning the seller’s account (in extreme cases).

•    If you bid on an auction but in the course of the auction for subjective reasons, you decide not to buy the Website/Domain, we recommend you to write a personal mail or message to the seller in advance (before the end of the auction!). The report, explains the reason why you can not or do not want to make a deal and asks the seller to not choose you as a winner of the auction or to remove you from the bidder's list. If the seller refuses to cancel the bid, then you can contact the TMS dispute handling team stating why you want to cancel your bid, TMS team will cancel the bid on that auction.

 

What is the procedure for selecting a winner of the auction?

1. First of all, a winner is the first buyer who has paid the BIN price. When BIN is made, it must be paid. Till the time the buyer does not pay for the BIN, it is not visible to the seller or to the other bidder's and does not affect the sale. Prior to the payment, there is an application for BIN. And only when the payment arrives on request, the BIN is placed.

a- Payments through the bank is not an immediate process, it takes few days for this process to get cleared up (usually up to 4 days).

b- The buyer should send scanned copy of the receipt of an application for payment by bank transfer.

2. Before the auction ends, if the seller wants to end an auction by choosing a bidder, he can start a transaction with the buyer who made the highest bid but until the auction is closed by the seller, the buyer is not liable to pay

3. The seller can close the auction early, choosing a winner at any time.

4. If the selected winner broke the deal, that is, has not made the payment within the allotted time (or has refused to pay the auction), an automatic mail would be sent to all bidders and watchers of the auction to buy the site/domain at a price set by the seller.

5. The obligation to sell the auction arises from the seller only if the rate is not lower than the Reserve price given to them. If none of the buyers has offered a price equal to or above the Reserve level, the seller can start a transaction with the buyer with the maximum bet. But in this case, the seller also has the right to cancel the auction and start it again.

 

I've won the auction, but the other winner was determined first. Can I opt out of the deal?

If the first winner of the auction broke the deal (not paid for it or did not provide data for transmission site and/or domain), the seller needs to contact the TMS support to resolve the issue. In this case, the seller may select an alternate winner among bidders.

 

How does TradeMySite protect me from fraud by the seller?

TMS protects its buyers from fraud and from the non-serious sellers - one of the key features of TMS. The goal of the TMS is to create a safe occupational environment for buying and selling websites and domains. Protection against fraud are based on the following principles:

1) Protection from duplicate accounts - We are the only one having fraud prevention platform in the world that learns and gets smarter in real-time. Every time a user creates an account on TMS, We closely look at the activity of every suspicious user, and our automatic system detects the fake user or duplicate account holder, leading to the suspension of the account. Our machine learning algorithms get smarter in real time and prevent users from creating fake profiles across desktop and mobile.

2) The Exclusive marketplace – To qualify for the Exclusive marketplace for buying and selling domains, Users needs a certain number of requirements. Until and unless the user has completed 5 successful transactions on TMS with 100% positive feedback, he is not liable to enter into the exclusive marketplace. The user also has to provide full details about himself, submitting the necessary documents and verifying all the social networks associated. TMS has all the rights to reject the users if we find any discrepancy in the details submitted. The exclusive marketplace is the safest to sell or buy websites or domain names with premium support and extremely high vetting process. Each and everything in the exclusive marketplace is backed up by proofs and verified by TMS team. There is a lot on the exclusive marketplace and only the members of the marketplace can access this area.

3) Control of the transaction. If the deal goes through a secure scheme, the money to pay for the auction is blocked, but not transferred to the seller until its completion. You, as a buyer, are fully protected by the fact that the payment will not be sent to the seller until he delivers you the website or domain and all associated accounts or info mentioned in the sales pitch. Moreover, you as a buyer also cannot ditch the seller until and unless the payment reaches us, the seller will not release the website to you. So think of TMS as a mediator here to protect the buyer and seller mutually.

 

How much does TMS charge as a commission to the buyer for the entire auction?

The commission to the buyer on a safe transaction depends on the amount of the transaction and the user's status

1) For customers with a status of 100% positive feedback and more than 5 successful transactions:

Transaction of $1-$500 – Commission of 5%

Transaction of $500- $2000 - Commission of 4%

Transaction of $2000-$15000 - Commission of 3%

Transaction of $15000+ - Commission of 2.5%

 

2) For customers with less than 5 successful transactions and less than 100% feedback

Transaction of $1-$500 – Commission of 6%

Transaction of $500- $2000 - Commission of 5%

Transaction of $2000-$15000 - Commission of 4%

Transaction of $15000+ - Commission of 3%

 

How much does TMS charge as a commission to the seller for the entire auction?

The commission to the seller on a safe transaction depends on the amount of the transaction and the user's status

1) For customers with a status of 100% positive feedback and more than 5 successful transactions:

Transaction of $1-$500 – Commission of 5%

Transaction of $500- $2000 - Commission of 4%

Transaction of $2000-$15000 - Commission of 3%

Transaction of $15000+ - Commission of 2.5%

 

2) For customers with less than 5 successful transactions and less than 100% feedback

Transaction of $1-$500 – Commission of 6%

Transaction of $500- $2000 - Commission of 5%

Transaction of $2000-$15000 - Commission of 4%

Transaction of $15000+ - Commission of 3%

 

 

Example 1. If the seller and the buyer have agreed on the amount of transaction of $1000, the buyer needs to make the rate of 5%(Qualified buyer) or 6%(New or non-qualified buyer). Seller needs to pay $1050 or $1060 as per qualification.

Example 2: For the seller, he needs to pay 5% or 6% commission depending upon the qualification i.e $50 or $60 to TMS as a fee.

 

What is the advantage of a secure transaction for the buyer?

Most importantly, it is a reduction of the possibility of fraud on the part of the potential seller to a minimum. The seller receives the money only after transferring the website or Domain to the buyer.  If the actual site (domain) characteristics are different from those stated, the buyer can always resort to the TMS dispute handling team to cancel the transaction, with appropriate penalties in relation to the seller which involves suspension of the seller's account or a negative feedback on his account.

A further advantage is that with the successful completion of the transaction in the amount of $1,000 you get a "plus" to the reputation that enhances trust you in future transactions ( "plus" the more, the greater the amount of the transaction). The higher the reputation, the higher the confidence in you from other users. Further the more the percentage of positive feedback on your account, the quicker is the sales and the more number of bids you will receive on your auction.

 

I found a good site (domain) for sale on TMS. Can I use TMS as the guarantor of the deal?

Yes, you can. Ask the seller to log in and publish your website for auction by paying a small auction fee. The buyer and seller need to create an account on TMS or directly login via Fb, Twitter, Linkedin or Google. As soon as the auction goes live, the buyer can buy at a BIN price and TMS will carry out all the work as usual.

 

 

Financial operations:

•    Buyer payment is transferred to the bank account of TradeMySite in accordance with the terms of the buyer's bank

•    The international Wire transfer may take few days to process, so the parties need to be patient, As soon as TMS receives the money into the bank, We will contact the buyer and seller and send a confirmation mail.

 

Make Offer

Make offer is a unique time-saving feature of TMS. Buyers can use this feature to shoot a direct offer to the seller. The seller may accept or reject the offer. If the offer is rejected, the user will get a notification on his dashboard stating that the offer has been rejected, If the seller accepts the offer, the auction will end and the transaction will start.

 

How does TMS dispute handling system work? What principles should be followed in order to prevent or win the dispute?

The main task of the system is the protection of the interests of parties to the transaction in dispute. Typically, the buyer has resorted to the help of the team when the actual site (domain) characteristics are different from those stated in the description of the auction. There may be other reasons for the dispute. With the use of TMS dispute handling team, It’s  important to understand the following rules:

1) The dispute handling team, carefully studies the arguments of the parties of the transaction, matching the characteristics of the site (domain name) stated in the description of the auction and other necessary information.

2) The dispute handling team shall decide on the basis of rules and Offers service, as well as the facts and circumstances relating to the situation.

3) The dispute handling team decision shall be binding on both parties to the transaction.

In order to prevent the initiation of the dispute by the buyer, and in the case of initiation to win it, you need to follow the following principles:

1) Always clearly and correctly specify all the information in the description of the auction. Maximum discrepancy should not exceed 5%.

2) In case of change of any information on the auction, it is necessary to inform the public by means of messages to potential buyers.

3) Always be as much honest as possible. Do not exaggerate or embellish the characteristics of the auction.

4) In the case of the initiation of the dispute process quickly and answer to the point to questions.

Why do we need confirmation of rights to the sites and domains, and what is its procedure?

Confirmation of the rights to the sites is to protect the interests of the buyer or the owner of the domain site. It does not allow a person who does not have access to the site profile or the registrar, to carry out an unauthorized sale. This reduces the likelihood of fraud, which is important for the buyer and the owner of the site.

All sites and domains tested verification process rights, and the user receives all the necessary instructions. Verification is mandatory and a prerequisite for the start of the auction.

There are 2 types verification of rights:

•    By file upload on the hosting

•    On the meta tag

Thus in some cases, it may require both types of acknowledgment.

Can I cancel the auction?

If for some reason the user changed his mind to sell the resource, it is necessary as soon as possible use the cancellation of the auction. Cancellation of the auction is valid both during the bidding process, and at their end, but only in the case when not reaching the reserve price of the auction.

Cancellation of the auction seller when the reserve price of the auction is equivalent to the failure of the auction. Cancellation of the auction after the reserve price is crossed may lead to suspension of the seller account. If the seller needs to cancel the auction after the reserve price is crossed, he needs to contact the TMS team stating the reason for cancellation and need permission from all the bidders who have bid a price more than the reserve price of the auction.

Are there any forbidden niches on TMS sites and domains for sale?

The TMS marketplace prohibits the sites and domains for sale that fall under one of the following categories:

•    "For Adults"

•    Hacking sites, distribution of counterfeit software

•    "Unidentified" (UFO, Paranormal), esoteric, occult and magical service orientation

•    Gambling in any form, theme

•    Sale of goods, copies of famous brands

•    Advertise smoking mixtures (spice)

•    Groups, communities, applications, profiles, pages, and so on. in social networks (can be transmitted in addition to the site, but the guarantee for their transfer are not available, are not considered for disputes, So the buyer needs to get the ownership of these accounts before proceeding)

 

I chose the winner of the auction. What to do next?

After selecting the winner must be strictly and consistently comply with the instructions that the system provides. Especially pay attention to the following points:

1) You, as the seller, must be the official owner of the domain.

2) The domain transfer is complete with the assignment of the domain in accordance with the rules of the registrar.

3) Transfer the domain (site). The user is obliged to follow instructions, tips and action sequences, which are provided in the system.

4) First, the domain is completely transferred, and then the site.

5) If necessary, you need to provide the correct information for the re-registration of the domain (not required for all registrars).

The deal, which takes place in violation of the above points leads to consequences listed below:

1) A transaction is considered to be your fault

2) Claim to the dispute under such a transaction will not be accepted.

 

The buyer cannot install or configure the website on his server. How does TMS help?

The buyer should note that he had received the site and domain and has no claims to the seller. At the same time, he must ensure that the resulting site will meet the performance, setting it on the server (and sometimes local).If the buyer have any problems with installing or configuring the site, and he asks for help, TMS will give assistance and ensure that the installation site on the customer server.The exception is when the buyer has not provided a technically suitable and complies with the requirements for the installation site (for example, written in the ASP.NET site, and the buyer on the FreeBSD server). But at the same time, specific technical requirements should be contained in the description of the auction.

 

General issues

I don’t receive the Emails from TMS

The Emails of TMS may be wrongly marked as spam at the mail server (in practice, this problem occurs with gmail.com). If the letter is not in the Inbox, check the Spam folder.

We do our best for the stable delivery of messages to users. You and your party can help to ensure that emails from TMS not being marked as spam. This can be done as follows:

•    Simply select the desired letter, and click the Not Spam button. Removal of marks with a message will automatically move it to your inbox.

•    Add email addresses admin@trademysite.com, contact@trademysite, feedback@trademysite.com, and info@trademysite.com in the address book. Letters from users from the address book are usually delivered to your inbox.

•    Create a special filter in the settings of your mailbox, so that our messages are never sent to Spam.

How long have I to wait for a response from the technical support?

User support is carried out 24x7. Typically, responses to requests come in within 1-3 hours. However, for the solution of some issues may require a longer time up to 24 hours.

Can a user have more than one account in the system?

No, it is forbidden, and this is not necessary. 

Therefore, this action is considered as fraud and lead to temporary or permanent account suspension.

What are the sanctions for violation of the rights of user of TMS?

Yes, any gross violation of service rules of use is suppressed and may entail:

•    A warning and a requirement to stop infringement

•    Auction closing, deleting published auction

•    Adding a Public Profile recording violations of the rules

•    Temporary or full account lock

For violation of the rules of use of the service set a number of standard penalties:

1-    Rudeness against users or TMS administration, obscene statements, spam, violation of the prohibition to public comment and discuss the value of the auction, as well as other violations of the rules of public / private comments and location information - a warning, a temporary or permanent ban possible comments, downgrade, temporary blocking of account.

2-    Proposals to make a deal, bypassing the system - Requests to transfer money directly to the site or, even select a secure transaction is regarded as a possible fraud and therefore prohibited. The sanctions - a temporary or permanent ban possible comments, the failure of the transaction is the user's fault, who proposed to bypass the system.

3-    Publication of any contact information in the user profile, as well as in the description of the auction is prohibited in order to protect against fraud by third parties- When communicating inside the system user is protected against all types of fraud on the part of third parties (examples of fraud socializing outside TMS), and the solution of disputes involving TMS  is much easier. In addition, in our experience, where the buyer and seller to communicate within the system, the transaction takes place more smoothly, controversial and difficult situations are resolved faster and more accurately.

4-    Malicious code on the site, put up for auction - an auction closing.

5-    Providing false information about selling the site or domain, inaccurate information in the attached files

6-    Cancellation of the auction after determining the winner - the failure of the transaction through the fault of the seller will lead to the temporary/Permanent blocking of his account.

7-    Spam in the system, all kinds of advertising - Repeated violations may be punished more severely. All kinds of advertisement are not allowed on the marketplace which includes placing a link to the comment for the purpose of advertising or messaging users of TMS about any product for the sake of advertisement.

 

What is the freezing of funds?

Funds blocked in the following cases:

1) You won the auction and made a payment transaction. These funds are blocked in order to guarantee payment until the buyer confirms receipt of the site and/or domain, and the absence of claims. Only after that, the funds will be transferred to the seller. If the seller has not fulfilled its obligations under the transaction, the funds are held with us until the seller completes the site transfer.

2) In this case blocked by means that they can not be spent, and debited at the time of withdrawal from the system.

What are the stages, dates and the script of the transactions on TMS?

1) A public auction - up to 30 days for Websites and up to 60 Days for Domain names (the period is defined by the seller)

2) The buyer Deposit - up to 7 days (for payment by bank transfer – Up to 14 days depending on the bank).

3) Transfer of the site and/or domain - up to 2 days (may be extended at the request of parties to the transaction, if necessary mailing documents to the registrar).

Scripting:

a- First, there is a complete transfer of rights to the domain registrar in accordance with the rules and regulations of TMS

b - Then transferring of the site

c - Site transfer of all monetization systems, statistics collection systems, social networks and so on. It occurs after a domain transfer and customer site. By agreement of the parties, it can be done at an earlier stage of the transaction.

4) Checking the site receiving and confirmation of customer transactions - up to 2 days in standard situations. If within 2 days the buyer has not confirmed the transaction (for example, stopped communicating), it adds up to 2 days to confirm the transaction. Lack of buyer response in the allotted time further equivalent to the absence of claims to the transaction. By decision of the administration of transactions completed with the payment transfer to the seller's balance.

 

Payment methods

Secure payment transactions to make the payment for the purchased asset on TMS is possible by wire transfer through a bank or PayPal. For making payment for the auction listing Paypal, credit card or Debit card, Paytm, Freecharge( Depending upon country) or through electronic payment systems can be used. Users can take advantage of in a way that is more convenient for them.