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Do buyers often not pay for the domain?

Labeled as question in Domain Buying and Selling Discussion, started by Alexander Baum, May 5, 2021

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  1. Alexander Baum

    Alexander Baum Established Member

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    In the last weeks, two peoples had bought a domain via Dan.com for 3k and 10k but after that they refused to pay them and waste my time.

    In my country, a deal is a deal and a handshake or a word counts the same as a contract. In court, this even has consequences if this is not respected.

    But in domain trading people don't give a shit about contracts and that is frustrating.

    Do you often experience that buyers don't pay for the domain or don't stick to contracts?
     
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  2. loredan

    loredan Top Contributor VIP ★★★★★★★★★★

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    In pretty much any country "a deal is a deal and a handshake or a word counts the same as a contract" but in this country called "Onlinestan" there isn't any way to enforce someone to part with his money even if they clicked the buy it now button.

    There are a lot of idiots out there playing silly games and coming across non payers is to be expected from time to time.
     
  3. jhm

    jhm Glazed

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    Sometimes it is good to deal with reputable brokers / people that have "a name" in the industry. People of a certain calibre have existing, good clients / know a thing or two about selling it well, and what to do...this isn't entirely reliable, but its a start. The risk comes when not so known people come your way...private buyers buying for a "vague reason", when in reality its a time waster

    With any domain, do as much research as possible on potential buyers. If they're setting up a business, part of an investment portfolio, the kind of person they are...any evidence to what they say being true / credible. If not, best being cautious

    Its a cliché, but overall...you get a feel for people with experience
     
    Last edited: May 5, 2021
  4. ecomslice

    ecomslice Top Contributor VIP

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    Yes, many do not pay,
    its kind of same as many have different personalities online, typing things they would not say in public,

    I will give you great advice though, many ( including me in past ) would get upset, get ego, raise the price and other things in anger.

    but

    if you just be patient, leave one single open minded message saying if they have concerns your here for questions, and if they changed their mind, thats life and you wish them well..

    then

    leave your bin as the final agreed price for a few months.

    sometimes they come back and buy, but if you acted like a jackas with messages or pricing, you stand 0 chance of anything.


    Also don't rule out, many domainers are likely out there making fake bids to see what their competition domains are maxing at.
     
    Last edited: May 5, 2021
  5. Mister Funsky

    Mister Funsky Top Contributor VIP

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    This was also true for me when I was a young man. But now, whether $50 or $5000, I put everything in writing (sometimes very simple wording). This recently just helped me win a case involving about $2000...my opponent was an attorney and I slammed him in small claims court.

    In the online world people do and say things they would not say or do in person...I do my own negotiations and once an offer has been made and I accept, they have a max of 72 hours (sometimes 24) to complete the purchase. The marketplace I use does not take the name 'out of play' until/unless it is paid for so there is no loss in exposure.
     
  6. Samer

    Samer Top Contributor VIP

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    Lol.

    It happens.

    (Edit: 10,000 posts. Yay me!!)
     
    Last edited: May 5, 2021
  7. pchip

    pchip Established Member ★★★★★★★★★★

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    Sadly this is quite common place. My favorite are the people you make a deal with and then they just dip, never to be heard from again.

    I try not to get too excited until the money is in the bank.
     
  8. LUP

    LUP Top Contributor VIP

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    if you dealing with people in real life, those rules still the same

    but they become different in cyberspace because they don't see each other
     
    Last edited: May 5, 2021
  9. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Do buyers often not pay for the domain?

    Hi

    "They.... are not buyers, until they, pay for the domain.

    going on 19 years now and i've only had 1 offer that i accepted, who didn't follow thru

    the amount exceeded asking price, so i figured something was flaky.
    later, sedo cancelled the transaction because they didn't secure funds.

    nowadays, there are more flaky mo-fo's, playing in the game.
    some try to game the game, and play games with others for various reasons and ulterior motives.

    they want to appear as a serious domainer, but in a minute, will try to run game,
    looking to see where your head is.


    imo...
     
  10. namemarket

    namemarket Top Contributor VIP ★★★★★★★★★★

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    That's truly amazing. What is your secret to such an incredible success record?
     
    Last edited: May 5, 2021
  11. Jurgen Wolf

    Jurgen Wolf Top Contributor VIP ★★★★★★★★★★

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    For me it happens a few times yearly...
     
  12. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    it might be....
    because i pass, on more offers, than i accept.
    which of course, keeps str low.

    but that too, is intentional.
    in effort to achieve higher roi, per sale.

    imo...
     
  13. iAdam

    iAdam iadam.com Gold Account ★★★★★★★★★★

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    Unfortunately fake offers happen all the time, it's part of the game. Just move on until real ones occur.
     
  14. noneisnone

    noneisnone 444 VIP Gold Account

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    happened to me before he came back few months later i refused to sell it at that point
    sold to a reseller for the same price
     
  15. namemarket

    namemarket Top Contributor VIP ★★★★★★★★★★

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    For me even more frequently, there was one 2-mo time period dec 2019-jan 2020 when 6 of 6 accepted offers all failed, that was before the pandemic news.

    Anyone who goes 19 years with just one failing and has so many offers he passes on most must have a powerful list of high demand names.

    P.S. I would really like to look at such a portfolio.
     
    Last edited: May 6, 2021
  16. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    I find that quite often "buyers" will submit offers for work-related domains thinking they are applying for a job or include real estate info because they are either looking to sell or rent an apartment or offer $xxxx+ for a bitcoin domain because they apparently wanted to buy that much bitcoin.
     
  17. AEProgram

    AEProgram Top Contributor VIP Blue Account

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    If someone makes an offer and you accept their offer they will in most cases not pay. This is domaining 101 and is true in real estate as well.

    Every domain offer should be countered or face a high risk of being a lost sale. From the buyers perspective when they made the offer they expected you to counter, when you don't many will assume they should've offered way less and you would accept.

    When you don't counter they also think maybe the domain isn't that good plus their friends and family tell them they are overpaying.

    Most people are too scared to counter, they end up losing. This is not a business for the faint of heart unless you never want to make real money in this business.
     
  18. MediaCode

    MediaCode MediaCode.com VIP ICA Member

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    This is why I pretty much only use "take it or leave it" BIN pricing these days. I only receive an email message from Dan or Afternic or Sedo AFTER the funds have been secured from the buyer. I don't have to deal with any emotional grief around non-paying buyers because I never hear about any offers from buyers and I don't do any negotiations with any buyers. I just get paid and then transfer the name.
     
  19. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    from my perspective...i can't agree with those assumptions

    however maybe it depends on who or what type of people are submitting offers on your names.
    including, whether you wait for incoming offers or are actively outspamming unsuspecting victims.

    as for domaining 101:
    i have accepted initial offers on quite a few occasions, without a counter-offer
    and all those transactions were completed, except for the exception, previously mentioned.

    and....have no fear about submitting a counter-offer for those amounts that don't meet the mark,
    and....will flat out state, "sorry, your offer is too low to consider", when such is well below consideration.

    mind games,
    like what the potential is thinking or what they will or may think, is :poop: i have no control over.
    so, why add it as a factor?

    when you get an incoming offer, you already know there is interest.
    leverage is on my side, and all i have to do is respond.

    when somebody already has inherent interest, it is more likely they will proceed with a transaction
    than one who's interest was artificially stimulated.

    imo....
     
  20. Cheka

    Cheka Upgraded Member Gold Account

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    Sometimes buyers does not pay. But luckily more of them usually pay.

    If domain name received > 1 bid, the buyer pays in 95% cases.
    If you receive an offer and accept in no more than 24 hours: for the counter offer - they pay in 95% cases, for the first offer - 50%
    If you accept an offer in a few days - 20%
     
  21. jim h

    jim h Top Contributor VIP Gold Account

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    You should get used to this situation. Every year, I defaulted by the buyers at least a dozen times.
     
  22. wot

    wot Top Contributor VIP ★★★★★★★★★★

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    When I have been dealing direct with "buyers" via platforms such as NP's I have never had a buyer back out of an agreed deal.
    On the other hand platforms such as Sedo etc multiple non payers. In fact one platform more non payers than payers.
     
  23. barybadrinath

    barybadrinath Top Contributor VIP

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    Why only blame buyers. Sellers are like this as well.
    Once I struck a deal on the behalf of one client with one very famous domainer and portfolio holder.
    Quarter million USD were sent and contract was signed as well.
    The seller then cheated and sold the domain to someone else for mere 5k usd more.
    The seller's broker told me that I can go to court for this. If this much greed is the situation of big domainers then I must say buyers are very innocent.
     
  24. RobM

    RobM Established Member ★★★★★★★★★★

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    At Dan.com I had 4 buyers in a row never contact me after accepting their offers (some after negotiation) and 1 seller who never sold the domain after I offered buy now. After that I stopped using them - might as well use your own parking with a contact form.
     
    Last edited: May 11, 2021
  25. lknights1987

    lknights1987 Established Member

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    Where was the buyer from and what was their name?
     

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