DeadBeat Buyers

[Grrilla]

I recently received this unhappy news from Sedo:

Unfortunately we have had no choice but to cancel the transfer for this domain name. Despite repeated emails and contact attempts the buyer has failed to provide us with the necessary information to process this transaction.
As this cancellation is no fault of yours and due to the inaction of the other party you might have grounds for legal action, based upon Sedo’s binding bidding system. We would be happy to provide you the necessary contact data on the buyer should you decide that legal action is warranted.
A smooth transfer is only possible with full cooperation from both parties and we regret that this cancellation is necessary. We hope that your future business transactions with Sedo run more smoothly. Should you have any further questions please feel free to contact me.
Best regards,
Nicole Madeja

I'm averaging one and a half sales/mo that fall through like this, so this email is nothing new. However, in this instance the offer was for a strong Mp3 name, the offer came in at double the mininum and was for a substantial amount.

Has anyone ever taken "Sedo’s binding bidding system" at face value and pursued a "legal action"? These deadbeat offers are very disappointing and the people making them are, in effect, screwing with someone else's head. I don't expect that the threat of legal action will acheive a sale of the name, but I am seriously considering it because of the amount and the principals involved. (Assuming Sedo does, in fact, have their contact info, albeit, not their proposed method of payment, ie credit card). Maybe if more people did follow up w/ legal action, the word would get around and a buyer would be less inclined to break their offer agreement.

Any thoughts or similar experiences?

 

[Kate]

Frankly I don't think it's worthwhile to sue.
Anyway, I would take their personal info and consider posting it in the 'scams & warning' section
Just an idea.

 

[nRnF]

I had one of those 2 weeks ago.
The domain was priced mid xxxx and (IMO was worth it), but buyer fall through.
Untill now buyer emails just "sorry" (at least buyer mails me).
I am still in process of decision if I may face some harder actions ;(

As Sedo will keep leaving you alone (besides some info), question here is as always:
Where are buyer/seller from ?
Legal chances ?
Who will you hire for defending your "binding contract" ?

PS:
I went through this some years ago, and after first official letter the buyer paid (I was lucky).

 

[Grrilla]

Frankly I don't think it's worthwhile to sue.

I agree. Several years ago I was stiffed $25,000 for a job I had completed and I sued the client. After spending a considerable amount of energy, time and money, I won a judgement, but that was only the first step. Next came trying to collect, and if the other party knows the ropes and can do a good tapdance, they can bury their assets, hide their personal property and work around paying you. I did collect some of the debt owed, but after all was said and done, I would have been better off forgetting it, because I lost more in time and productivity than what could ever have been gained.

I'm not actually going to sue- probably just have my attorney, whom I happen to be working w/ on something else, ATM, shoot him off a letter, just to give him a little something to think about as a means of reciprocating the kindness he has shown to me.

Am shooting an email off to Sedo to retrieve the info and will post, if appropriate.

Thx nRnF. Missed your post by a hair.

 

[-db-]

Michael, I have a feeling I'm about to receive the same message from SEDO, regarding my buyer. I accepted an offer about a week ago, but not a word since then.

Currently, it's still showing the following message.

The buyer of the domain has yet to confirm his personal details and contract type. Every effort is being made to contact the buyer in order to get him to complete this information. Once this has been done, the transfer can proceed to the next stage.

Do you recall the timeframe from when you accepted the offer, to when they cancelled?

 

[capiche]

I also played "Pay Me" tag with a buyer through Sedo and eventually got the same email. It was for a good bit too and I was really counting on it. But, in the end they kept stating they still wanted the name, but they were having to "wait" for clearance from their accounting dept or something That went on for about 2 months. I gave up and cancelled the transaction.
To me it seemed a law suit would have cost more than I was going to get for the domain, so I just forgot about it.. Well almost... GRRRRRRR

 

[wot]

Had many of these from Sedo , however they will give you the "buyer" details which I post on warning forums and send a link back to "buyer" - a limited amount of satisfaction and others are made aware.

 

[Grrilla]

Do you recall the timeframe from when you accepted the offer, to when they cancelled?

If it's been a week, look for the email in the next few days- at least that has been my general experience.

I also have another one that is actually for more that I'm worried about. The twist on this one is that Sedo has the contact and billing info but is in a holding pattern, waiting for payment, I presume. One good sale pulled out from under ya' is bad enough, but to get it double barrel like this, (if, indeed the other one does go away), is a real kick in the cajones. I've been a pretty good boy, so I'm just hoping that Santa isn't going to just leave me w/ coal in my stocking, this year. C'mon Santa Claus!! Pull through for me! :santa: :D

Had many of these from Sedo , however they will give you the "buyer" details which I post on warning forums and send a link back to "buyer" - a limited amount of satisfaction and others are made aware.

I guess that's about all one can do. Find some limited satisfaction by embarassing the pr~cks, or if they are too dense to be embarassed, at least, maybe some negative exposure will impact them down the line. I'm not a big believer in karma, relative to any spiritual discipline, but I do know that things seem to find their way to balance. People who throw alot of bad stuff out there, tend to get it back in the end, one way or another.

To me it seemed a law suit would have cost more than I was going to get for the domain, so I just forgot about it.

More expense and alot more aggravation and counterproductivity. Going back after something, often seems to slow down the forward movement in the now, so to speak. However, I do have some associates who are wired differently than I am, who would go to the ends of the earth before they would allow someone to screw them and back out of a deal. They make jerks like these their personal projects. As always, it's a matter of temperment and how one approaches their lives- different strokes and all that. I'm glad that there are people like that, because, at least, I can get the vicarious satisfaction of knowing that some of these lowlives get taken to task.

Man, I want to clear out all of this psychic B/S this week, so that I can enjoy the spirit of the holidays when they roll around, shortly. :santa: <- (I must say, I do like this icon, a bunch) *<{:-} ho-ho-ho!

 

[harpo]

its cold time right now, after the 21st when the soltice and Earth turns again towards the sun .......should............. and will get warm and fuzzy agiain.
i not a big Christmas religious fan at all, but i think its amazing that this guy they crucified and treated sooo badly and cruel in the worst fashion , ask for them to be forgiven "for they know not what they do"..

 

[armstrong]

I had a weird one early this year (a co.uk). Buyer and I agreed on the price, Sedo received payment, and off I go mailing my co.uk transfer forms. Then the buyer simply disappears, and Sedo eventually cancels the transaction. Sedo said that they will refund the payment to the buyer.

But I wonder. The buyer now has the transfer papers, and possibly the funds as well. What would stop him from completing the transfer, and gaining both domain and the money? Fortunately, the amount in question is just in the low $XXX, so I'm not too worried. Besides, its been a while.