How long should we wait if dealing with a non paying Sedo bidder?

[Compassion]

Is two weeks long enough?


How long do you wait when a sedo buyer doesn't pay to either relist it or sell it somewhere else?

 

[Michelle]

Can I just apologise to tight-aggressive I feel this thread has kinda been taken off course. Im sorry.. I would say yes 2 weeks for any deal is long enough. Not so bad if the communication was good and they did not lie

 

[tipsfromthetop]

Hope this helps guys but i talk to Steve Opadeji at Sedo often and this is the policy...

"payment requests are placed in the buyer's user account and an email gets sent asking them to make payment for a domain as soon as possible. We ask buyers to make payment within 10 working days.

Should the buyer not make payment within the first 7 working days they will receive an automatic email reminder and the transfer agent will make every attempt, both via email and telephone, to contact the buyer in order to determine when payment will be made.

If nothing happens after this time the seller has the right to cancel the deal via there transfer agent and the domain is able to be listed for sale.


I know i am not sedo but as i talk to him regular i thought this info may help..

Hope you get it resolved soon.

Steve
Tips

 

[trlsker01]

In my experience with Sedo, it always takes at least 10 working days to get the money from a sale - and, often longer.

On one occasion, I happened to know the other party via a Forum - so, I knew they had paid....yet Sedo still held the money for a further 8 days.


Frankly, I think Sedo banks the money on every sale transaction - and earns interest for a few days, every time....It would add up to hundreds of thousands of free dollars for Sedo, in interest, every year....


...Nice little earner for doing nothing...

.

You are absolutely on the money on this. I took Bank Teller class course and most banks do this, its called "Back Dating" where they hold the money (to earn them interest) for a number of days before dispersing. :td:

 

[whitebark]

Sedo needs to do as one of the .ca auction houses does - require a valid credit card BEFORE bidding - that way when they don't pay up they get charged a set amount for being a dead-beat. They also get turfed from the system on the first offense. The same goes for sellers - they don't go through with the sale they also get hit hard and turfed out of the system. If I remember the agreement terms right the penalty is $500.

And those that said Sedo doesn't care - you are right they don't care because people keep using them.

 

[Michelle]

. We ask buyers to make payment within 10 working days.

Should the buyer not make payment within the first 7 working days they will receive an automatic email reminder and the transfer agent will make every attempt, both via email and telephone, to contact the buyer in order to determine when payment will be made.

If nothing happens after this time the seller has the right to cancel the deal via there transfer agent and the domain is able to be listed for sale.


Steve
Tips

Hi Tips :blink: Hope you are well..

What if the buyer pays in the first couple of days which is what has happened above ^^^ why are they still not handing over the money

 

[tipsfromthetop]

Then i would ring sedo it must be an admin error i have sold so many names on sedo ranging from $$$ - $$,$$$ i have never seen this problem i normally get paid within 3 days of the Registration info showing the new clients details after transfer.. Of course i always send my transfer agent a whois link to show the new owner has the domain and all the details are showing theres.

Maybe try and do that its always worked for me..

Tips


(hi mellow *hugs* i have been very poorly with prostate cancer but i was all cleared last week that why you see me around again)

 

[Michelle]

(hi mellow *hugs* i have been very poorly with prostate cancer but i was all cleared last week that why you see me around again)

pm :blink:

 

[mwzd]

What if the buyer pays in the first couple of days which is what has happened above ^^^ why are they still not handing over the money

Possibly coz they're verifying the transaction? They guarantee payment so only fair for them to get confirmation.

Sedo needs to require a valid credit card BEFORE bidding - that way when they don't pay up they get charged a set amount for being a dead-beat. ... If I remember the agreement terms right the penalty is $500.

They should implement this. Would cut down a lot of crap.

And those that said Sedo doesn't care - you are right they don't care because people keep using them.

Too true, but what do you do?
[Damn I'm a Poet and I didn't even know it :D]

 

[Michelle]

[Damn I'm a Poet and I didn't even know it :D]

Dont get me wrong when you join they are free
Easy listings for you and for me
You cant knock a service you dont pay for
Auction listings transfers and more..
But please sedo please be fair back
Play the game and pay on track

 

[Michelle]

No comment from sedo in this thread yet and still no answer to my 2 emails to their customer service department last week

 

[Compassion]

Dont get me wrong when you join they are free
Easy listings for you and for me
You cant knock a service you dont pay for
Auction listings transfers and more..
But please sedo please be fair back
Play the game and pay on track

Very nice poem

 

[AzN]

It took over 3 weeks for the buyer to pay for and it's been 5 weeks since the transaction started, buyer has yet initiated transfer.

 

[Michelle]

It took over 3 weeks for the buyer to pay for and it's been 5 weeks since the transaction started, buyer has yet initiated transfer.

With my transaction I know the buyer has paid a week ago I know I have not had any contact what so ever only the automated congrats message. I have now sent them 3 emails to customer service.. nothing. I know they have lied to my buyer saying they have been in contact to me.. :td:

Sedo like to comment?????????????

 

[Sedo]

Hi Everyone,

Please be aware that a seller is not paid for a domain transaction until the seller pushes the domain over to us.

If you have any specific questions or concerns with a domain transfer that you currently involved in, you transfer agent has been assigned to assist you. You can also send me a private message, and I will make sure your specific inquiry is responded to.

When we receive money into our Escrow account, that money is not "banked". We can not issue that money to the seller until the domain has been transfered, that is why an escrow service in in place. As far as I am aware, both parties are equally responsible for handling their part of the transaction in a timely fashion.

I hope this provides some clarification.

-Stephanie

 

[bmugford]

Is there any way to get a new transfer agent? My agent has been completely unresponsive to any of my questions, comments, or issues.

- Auction Ended 7-31-2008
- Contacted Agent on 8-5-2008 with specific questions for agent
- Form Response received on 8-7-2008 that didn't address any question I asked
- I replied on 8-7-2008 for clarification to my questions
- Still no response of 8-12-2008

The customer service I have received is terrible.

Brad

Hi Everyone,

Please be aware that a seller is not paid for a domain transaction until the seller pushes the domain over to us.

If you have any specific questions or concerns with a domain transfer that you currently involved in, you transfer agent has been assigned to assist you. You can also send me a private message, and I will make sure your specific inquiry is responded to.

When we receive money into our Escrow account, that money is not "banked". We can not issue that money to the seller until the domain has been transfered, that is why an escrow service in in place. As far as I am aware, both parties are equally responsible for handling their part of the transaction in a timely fashion.

I hope this provides some clarification.

-Stephanie

 

[Michelle]

Hi Everyone,

Please be aware that a seller is not paid for a domain transaction until the seller pushes the domain over to us.

If you have any specific questions or concerns with a domain transfer that you currently involved in, you transfer agent has been assigned to assist you. You can also send me a private message, and I will make sure your specific inquiry is responded to.

When we receive money into our Escrow account, that money is not "banked". We can not issue that money to the seller until the domain has been transfered, that is why an escrow service in in place. As far as I am aware, both parties are equally responsible for handling their part of the transaction in a timely fashion.

I hope this provides some clarification.

-Stephanie

First off stephanie thanks so so much for taking time to comment but I think you are missing the bigger picture. The lack of sedo customer service is so bad and the time it takes to complete deals... I really think this is the worst service I have ever had

 

[Compassion]

Well, I got my answer. 23 days later Sedo canceled the transaction.

The name is now available for the exact same price as it sold on Sedo - right here on NamePros

http://www.namepros.com/domains-for-sale-fixed-price/503094-u8v-com.html

 

[weblord]

2 weeks is enough, just don't exceed it.

Is two weeks long enough?


How long do you wait when a sedo buyer doesn't pay to either relist it or sell it somewhere else?