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Buying a domain but seller wants a percentage of future resale

Located in General Domain Discussion, started by NetworkPearl, Jul 10, 2016

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693

  1. NetworkPearl

    NetworkPearl Top Contributor VIP

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    Hi,

    I'm buying a domain from this woman (enduser) who has owned the domain for a few years but hasn't used it.

    She's selling it now and we agreed to a price of $1,800 and she also mentioned ,she would like to suggest a 10% bump on future propensity , my terms.

    What does this mean?
     
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  2. Web Trader

    Web Trader Established Member ★★★★★★★★★★

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    I found your thread this evening because it happened to appear in a news listing and the topic interested me, but the title of your thread "Buying a domain" is probably too vague to get many hits from people who are just browsing over in General Discussion. I would change the title if you can to something more specific and catchy if I were you, just suggesting.

    Anyway, I'm not familiar with a phrase like that. So it's unclear if she means 10% on a future sale, or 10% of revenue earned with it. Future sale sounds more likely.

    Either way, you would need to make a written contract for that, and then there is the question of how easy to enforce it would be in the event things go sour.

    If you were the seller it is also possible to do domain leasing and domain licensing (people seem to virtually never talk about the latter unfortunately, as it tends to be all about the sale).

    If it's 10% of revenue, then it seems the contract should also include means of auditing.

    If it's a great domain then her request is certainly reasonable and understandable, especially at that price.
     
  3. Web Trader

    Web Trader Established Member ★★★★★★★★★★

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    P.S. What country is she in that she would use a phrase like that?
     
  4. TampaDomains

    TampaDomains Established Member

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    pro·pen·si·ty
    prəˈpensədē/
    noun
    1. an inclination or natural tendency to behave in a particular way.
      "a propensity for violence"

    It still doesn't make sense the way it was used.
     
  5. SirDrago

    SirDrago NAME JEDI VIP ★★★★★★★★★★

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    I agree that the use of that word is odd, instead of using "Repeat" or "habit".
    Looks like you contacted a lawyer.
    Have her explain in detail "Her terms" of her definition so that the meaning is transparent to both parties.
     
  6. NetworkPearl

    NetworkPearl Top Contributor VIP

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    I cleared this with her. Thanks everyone .
     
  7. TampaDomains

    TampaDomains Established Member

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    So what the heck was she talking about?
     
  8. NetworkPearl

    NetworkPearl Top Contributor VIP

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    She wanted 10% cut if I sell the domain or make a company etc .Still don't get the other part tho.
     
  9. NetworkPearl

    NetworkPearl Top Contributor VIP

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    I increased my offer to $2,000 with no %.
     

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