How to transfer my domain to someone else?

I’ve never done this before, so I don’t exactly know what to do. Someone wants a domain that I own and is willing to pay money to buy it from me.

How should I go about this process? I will need to collect money from the buyer, and transfer the domain ownership to someone else. How can I do this?

There are domain escrow services that can handle the ugly bits of the sale process for you. I don’t have any to recommend offhand (having never needed one myself), but you should be able to find one online easily. They’ll want a small percentage of the sale price, but it’s typically pretty low (3% seems typical for small sales) and it’s definitely worth it.

Well I looked into domain escrow services and seems like they charge a minimum of $50 per transfer. (I’m selling the domain for $50 so it’s not really worth it!) I’m just wondering what the process is to transfer the domain from Dreamhost to someone else. The buyer is able to use GoDaddy, so how do I go about transfering the domain to GoDaddy?

If that’s what you’re after - head into the Registration Transfer section of the panel and give the other person the auth code (from the bottom of the page) once they’ve paid. They’ll be able to use this at their registrar (GoDaddy, for instance) to transfer the domain in.