End user payment plan

[maxeaus]

Hello everybody, and a Happy New Year. :wave:

I have recently been negotiating two end user sales over the Christmas season, one fell through, but i have had a very strong offer on one domain. Now the the problem is that the buyer would like to pay in 3 or 4 installments, for example 3 x $1,500.

I have never done this before, and would love to hear if NP's members think this is a good or realy bad idea. I was thinking of redirecting the Name Servers, and not changing the whois until final payment.

It dose sound like a messy way to make a deal though. Anybody have any experience with sales like this, or other ideas about how to finance/structure a deal such as this?

 

[larryharlow]

Do it only if you desperately need the money.

 

[yilduz]

Hello everybody, and a Happy New Year. :wave:

I have recently been negotiating two end user sales over the Christmas season, one fell through, but i have had a very strong offer on one domain. Now the the problem is that the buyer would like to pay in 3 or 4 installments, for example 3 x $1,500.

I have never done this before, and would love to hear if NP's members think this is a good or realy bad idea. I was thinking of redirecting the Name Servers, and not changing the whois until final payment.

It dose sound like a messy way to make a deal though. Anybody have any experience with sales like this, or other ideas about how to finance/structure a deal such as this?

Well, if you're holding the domain until the sale is final, I say go for it. Write up some sort of contract saying if they don't pay in full, you keep the domain and consider their payments so far as 'rent' for the domain or something. If they end up not paying after one or two payments, you've pocketed some money and can still sell it.

 

[Dean]

I agree with Yilduz, change the NS for now and let them use the domain while paying but dont give them the domain until they have fully payed and make an agreement that if they haven't fully payed after a certain date then the deal falls through and you keep whatever they have paid up until then.

 

[maxeaus]

Thanks guys for the replies, i do think the idea of redirecting the domain after a downpayment seems reasonable, and if nothing happens, ie further payments axe the deal and consider it rent. My main concern is if their business plan dose struggle (high possibility ATM) and it gets messy with pleading for more time, etc. I think i will sleep on it.

 

[DotUSDomains]

Why not ask them for a non refundable deposit of 10% or 15% of the purchase price,(but take that deposit of the final installment , not the first/second/third the final payment)

If there willing to pay in installments, they should agree to that if there 100% set on buying the name,

if they dont agree to the Deposit then somethings up.

Good luck.

 

[maxeaus]

Why not ask them for a non refundable deposit of 10% or 15% of the purchase price,(but take that deposit of the final installment , not the first/second/third the final payment)

If there willing to pay in installments, they should agree to that if there 100% set on buying the name,

if they dont agree to the Deposit then somethings up.

Good luck.

Very good idea, i think i may propose this as well as 3 x payments and see where that leads. If i get a deposit and let them start using the domain, this may also help them get off the ground before using valuable cash flow.