question I accepted a $7G offer. Then find out buyer is whale. Can I cancel?

WhoaDomain.com · Apr 16, 2018

So yea. I got an offer on a 6 letter domain via email. the domain is IOT + MMS .com.

Did not think nothing of it. Comps show similar IOT sales and MMS sales as high as $20,000.

I forgot about the offer over the weekend. They came back with $4,000 and since I didn't check my emails over the weekend. They countered with $7,000.

To be honest I did the rookie move and did not pay attention to their email address which was a Mcdean.com email address.

I was being quirky and accepted the $7,000 offer via email without a thought as I thought (at the time) it was fair.

but now after finding out more about this Mcdean.com website with over 2,500 employees worldwide. I'm having sellers remorse.

So is my acceptance via email a legally binding agreement or can I cancel and ask for more? That's question number 1.

And #2 is of course should I renegotiate at this point?

I know it's a jerk move but after seeing the McDean.com website which looks like an 80's website I got the "bug" and now thinking maybe I shouldn't have jumped at the $7,000? I mean without me even countering his first $4,000 offer. He jumped up to $7,000.

I think I had asked for $10,000 first. he asked if we could meet in the middle at $7,000 he even said he'd add $400 to cover the escrow fees.

Am I missing out here? seems like he could have paid more as he's very "easy going" with this purchase especially jumping from $4,000 after no response up to $7,000? That's a big jump.

or is $7,000 fair market value for IOT + MMS .com?

Of course I understand that I could royally screw this up by reneging and asking for more this point and he might walk away.

I'm more concerned of the legal aspect.

PeakDots · Apr 23, 2018

mayazir said:
what is MMS domains?

Acronym for:

Message Management Service

Multimedia Messaging Service

ResoluteDomains · Apr 23, 2018

I just had a buyer back out of a mid-XXXX offer and I am seriously considering legal proceedings. Stick to your word, you would not appreciate being on the other side of the fence. You may have been on the other side, if you have then you would know how it feels. Sell the name and move on.

MR Harrist · Apr 23, 2018

there is no significant difference between $7k, and $10k! but there is a lot of different between, 7k Vs $0

xynames · Apr 23, 2018

xynames said:
Let us know if this deal actually closes.

Elad n said:
Im interested to know if from all of this long thread we have a 7k sale or not lol

Elad n said:
Btw , anything happened with the offers you got in the other threads? I lost track.

hawkeye said:
@Avtar629 'Everyone' of the domains in your sig show that they closed auction at SEDO on Apr. 6 with 'one' bid and reserve met! Yet...they are still in your name!! So what's up with that? Did you forget to complete the transactions?

tiawalling said:
Your posts are always interesting.
You always have an answer for everything and yet you seems to ask a lot of question.

Most all of his threads are premature musings about hoped for offers that never close, or seeking advice that he ignores. It's fine though, but not worth all the input and effort from members that I do not believe he listens to anyway.

Right or wrong avtar629? Are you looking for input or just hoping for someone to tell you that you are wearing clothes when you are in fact naked?

xynames · Apr 23, 2018

john888 said:
Email is not binding.

???

Kamaz · Apr 23, 2018

What matters is the profit, did u make huge ROI? that's what matters.

ProDomanico · Apr 26, 2018

Get it and have fun with it

ivey · Apr 28, 2018

Take the money....That easy going guy could easily buy another better name.. don't pres it.

PeakDots · Apr 28, 2018

Whatever happened with this? Did the name change hands or what?
Update please

MapleDots · May 1, 2018

Smiles76 said:
This is why many people don't like domainers. This is a shady way to do business. The price of a domain should have NOTHING to do with who the buyer is. If a house is worth $100,000. The owner doesn't have a right to raise the price to $1 million just because he finds out Bill Gates is the buyer.

You can bet bottom dollar I would do that.

If my house is a private sale (no contracts with a real estate agent) and Bill Gates comes knocking because he needs my property for something you can count on me asking ten fold.

I don't understand why you would even imply what you are saying..... if Microsoft wants my domain and I find out it's Microsoft bidding the price is going to go up exponentially. Leaving money on the table when you can make more is just bad business.

I'ts not about who likes me and who doesn't..... when opportunity knocks, and you see the opportunity, then its good business to grab it while you can.

We don't need people to like us, we just need them to like our domains. If you don't think that business motto works then just think of me the next time you pay your cell phone bill. You hate paying it but you do, in they end they keep raising and we keep paying. They know they have you and that's why they get away with it.

Count on the fact that if I know I have you hook, line, and sinker then you are going to pay.

That is how I made some of my biggest deals!!!

slader23 · May 2, 2018

So did this sale happen or? @Avtar629

DomainFQ.com · May 3, 2018

Take it

Elad n · May 4, 2018

slader23 said:
So did this sale happen or? @Avtar629

Guess .

I'm guessing not but @Avtar629 can prove me wrong.

mazen alahmadieh · May 4, 2018

if it was mine I would offer it for 55,000,000$ just as robotinsurance.com and never sell lol.

jideofor · May 4, 2018

xynames said:
Most all of his threads are premature musings about hoped for offers that never close, or seeking advice that he ignores. It's fine though, but not worth all the input and effort from members that I do not believe he listens to anyway.

Right or wrong avtar629? Are you looking for input or just hoping for someone to tell you that you are wearing clothes when you are in fact naked?

lol... There was this other guy who was so fond of doing this kind of thread until I called him out.

ET76 · May 7, 2018

Any update?

karmaco · May 7, 2018

Elad n said:
Guess .

I'm guessing not but @Avtar629 can prove me wrong.

Guess @Avtar629 doesn’t want to talk to us anymore.Kind of rude IMO to open dramatic threads and then ignore the community response.

xr reality · May 7, 2018

To me excepting an offer then trying to back out shows what sought of character you are .

Dominique · May 10, 2018

LarryDomain said:
One time I quoted a guy $500 for a domain and he came back to me several months later and said I'll take it. It was a crypto related domain and since I didn't say you had a certain amount of time to respond. I went ahead and sold it to him for $500. It's worth closer to $5000 after the passing months.

Moral of the story is, honor your deals. AND set a time limit on your prices!

It was really fair, maybe to fair.

If no time is fixed, an offer must be accepted within a reasonable time having regard to the circumstances.
What constitutes a "reasonable time" is not defined and it depends on circumstances, but that acceptance several months later is definitely not made within "reasonable time".

xynames · Jun 11, 2018

NameSplice said:
Whatever happened with this?

As with most of Avtar629’s threads - nothing.

learie · Jun 12, 2018

I believe these are learning experiences for all of us. I will only say, try your best and don't live your life with regrets...

Haris · Jun 12, 2018

Whale ate him.

WhoaDomain.com · Sep 24, 2018

@Avtar629 'Everyone' of the domains in your sig show that they closed auction at SEDO on Apr. 6 with 'one' bid and reserve met! Yet...they are still in your name!! So what's up with that? Did you forget to complete the transactions?

woops did not see this post sorry to reply late.

Those domains were all bids from someone in China who was making offers on all those domains but in actuality they just wanted maybe 1 or 3 max.

It kind annoyed me. I thought I had good sales coming to me.

Don't know if the buyer was just not knowledgeable about Sedo or just playing with me. I don't know but he did place those offers. plus he kept leaving notes about this is the best I would get on these.

So since they were all offers. I pushed them all to auction,

he was getting on my nerves.

Of course he stiffed me after the auctions were over.

Did I over react? probably but I hate people knocking on my door when I quote a reasonable price for my domains and then they proceed to tell me I'll never get more than this offer of theirs.

So yea those domains are still with me and it's good since no one else bid so now I know I guess that's the price point for those domains.

oh well live and learn.

I'm assuming Sedo penalized him or something for stiffing me on the bids. who knows?

Elad n · Sep 24, 2018

Avtar629 said:
This is true. So recap. Finishing this deal up. $7,400 for IOTMMS.com best part like I said. really nice guy. he accepted to pay me via Paypal after I showed him my Linkedin page.

something about a guy with 17,000 Linkedin connections mostly CEO's gives you instant trustworthiness to buyers.

I mean why would such a person ruin his reputation by cheating someone.

especially when all a victim would do is just go on Linkedin and create a stink about me and ruin my reputation on Linkedin.

This made plenty of sense to this buyer.

So I guess having a good Linkedin connection base helps convince people to trust you enough to pay you via Paypal.

woops did not see this post sorry to reply late.

Those domains were all bids from someone in China who was making offers on all those domains but in actuality they just wanted maybe 1 or 3 max.

It kind annoyed me. I thought I had good sales coming to me.

Don't know if the buyer was just not knowledgeable about Sedo or just playing with me. I don't know but he did place those offers. plus he kept leaving notes about this is the best I would get on these.

So since they were all offers. I pushed them all to auction,

he was getting on my nerves.

Of course he stiffed me after the auctions were over.

Did I over react? probably but I hate people knocking on my door when I quote a reasonable price for my domains and then they proceed to tell me I'll never get more than this offer of theirs.

So yea those domains are still with me and it's good since no one else bid so now I know I guess that's the price point for those domains.

oh well live and learn.

I'm assuming Sedo penalized him or something for stiffing me on the bids. who knows?

Finally a sale ?

congrats !

Elad n · Sep 24, 2018

https://trademarks.justia.com/878/85/iotmms-87885602.html

question I accepted a $7G offer. Then find out buyer is whale. Can I cancel?

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