How to buy a domain that is owned by somebody else safely?

So, you found a domain name that is perfect for your company, and this domain is owned by someone else. You have contacted the owner, and the owner agreed to sell this domain to you. You have reached an agreement regarding the price. Now, how you safely pay to the owner and how you transfer the domain. Do you send money first, hoping that the domain owner would honor the deal? What would happen if you send the money, and the owner would not send the domain? Or do you insist on transferring the domain first, and paying later? But how can domain owner know that you would send the money? What if domain seller any you live in different countries?

The solution to all these questions is a domain escrow company. This is company that will collect the payment from the buyer, will hold the funds until the seller transfers the domain name to the buyer. Then, this company would send the funds to the seller.

There are several well-known and reputable escrow companies in the domain name space.

escrowdomains.com (escrow.domains)

The only thing they do is domain escrow, and they do it well. This site is run by Greenberg & Lieberman, which is famous company in the intellectual law space. The company was founded in 1996 by Michael Greenberg and Stevan Lieberman, according to the wikipedia https://en.wikipedia.org/wiki/Greenberg_%26_Lieberman. The company has been running for a very long time and deserved an impeccable reputation for these years.

escrow.com

The name of the company stands for itself. They specialize not only in the domain escrow, but also can do cars, electronics, jewelry and so on.

Domain name registrars that offer marketplace services or domain escrow services.

For example namesilo.com, sav.com, godaddy.com.

Summary

All these options are viable, you and the domain name seller can choose any option that is suitable for both of you.