In order to minimize any roadblocks from the buying process, we now offer a Flexible Financing option for Premium and Standard listings. This option allows buyers to choose a monthly payment and a down payment amount that fits their budget.
- For longer payment terms, the buyers would be required to pay a minimum down payment amount, so that they are more committed to the purchase and sellers receive a reasonable amount of payment with the initial purchase.
- The minimum down payment amount will be automatically calculated based on the domain price as well as the length of the payment plan.
- For high priced domains (typically above mid to high five figures), the down payment amount will be optional even with longer payment plans.
Extended Installment Plan Surcharge
- For longer payment plans (typically above 12 months), there will also be a surcharge % added to the purchase price. This % will be calculated automatically based upon several factors (downpayment amount, length of the payment plan, domain selling price).
- If a buyer puts in a higher down payment amount, their surcharge % will be automatically reduced.
- Any surcharge amount collected from buyers will be split 65% / 35% between the seller and Squadhelp. In other words, sellers will receive 65% of the collected surcharge.
- For SH registered domains, the surcharge will be split 65% / 35% between Squadhelp and seller (in other words, SH will receive 65% of the surcharge amount).
- The surcharge payout will be collected along with each individual installment and will be distributed at the same time as the monthly installment payout.
- If a down payment is collected, it will be distributed to seller (minus the SH commission) at the time of first installment payout.
- The surcharge amount uses a variable formula and is based upon payment Term, down payment and selling price. For shorter installment plans (typically under 12 months), there will not be any surcharge amount
- For longer installment plans (typically above 12 months), the buyers will be required to pay a minimum down payment amount. This amount will vary based upon the selling price. For domains priced in the five figure range or higher, we may not require a minimum down payment amount even with longer payment terms.
How to Enable This Option
- This feature is available for Premium Listings as well as WLM/ Seller listings.
- You can enable this option from your Preferences section under Premium and/or Standard listings. Note: If you want to enable this option for both Premium and Standard listings, make sure to enable it from both Premium and Standard Preferences sections
- This preference applies to your entire portfolio. Once enabled, all domains in your portfolio will offer the Flexible Financing option. Currently it is not possible to offer this option only for specific domains within your portfolio.
- If you do not wish to enable this feature, no action is required. Your standard installment plan will continue to remain in effect.
This is a Beta feature and we may make further changes based upon our initial learnings.