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I accepted a $7G offer. then find out buyer is whale. can I cancel?

Labeled as question in Legal Discussion started by Avtar629, Apr 16, 2018.

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  1. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    So yea. I got an offer on a 6 letter domain via email. the domain is IOT + MMS .com.

    Did not think nothing of it. Comps show similar IOT sales and MMS sales as high as $20,000.

    I forgot about the offer over the weekend. They came back with $4,000 and since I didn't check my emails over the weekend. They countered with $7,000.

    To be honest I did the rookie move and did not pay attention to their email address which was a Mcdean.com email address.

    I was being quirky and accepted the $7,000 offer via email without a thought as I thought (at the time) it was fair.

    but now after finding out more about this Mcdean.com website with over 2,500 employees worldwide. I'm having sellers remorse.

    So is my acceptance via email a legally binding agreement or can I cancel and ask for more? That's question number 1.

    And #2 is of course should I renegotiate at this point?

    I know it's a jerk move but after seeing the McDean.com website which looks like an 80's website I got the "bug" and now thinking maybe I shouldn't have jumped at the $7,000? I mean without me even countering his first $4,000 offer. He jumped up to $7,000.

    I think I had asked for $10,000 first. he asked if we could meet in the middle at $7,000 he even said he'd add $400 to cover the escrow fees.

    Am I missing out here? seems like he could have paid more as he's very "easy going" with this purchase especially jumping from $4,000 after no response up to $7,000? That's a big jump.

    or is $7,000 fair market value for IOT + MMS .com?

    Of course I understand that I could royally screw this up by reneging and asking for more this point and he might walk away.

    I'm more concerned of the legal aspect.
     
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  2. usernamex

    usernamex Moderator, NamePros Moderator VIP

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    Take the money and be happy with it. Finally.

    Please recall the number of four figure sales you have denied yourself in the past and just take this one. There are thousands of domainers who would be delighted with this sale.

    Also consider deleting your entire post until the sale is ACTUALLY completed. Agreement reached by email is not super binding at best.

    Plus how would you feel if they came back and after agreeing to $7K said they changed their minds and are now back at $4K?
     
  3. WingMan

    WingMan Established Member

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  4. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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  5. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    actually THAT happened with another domain. Went from $5,000 down to $2,500 because I was trying to get more than $5,000.

    They did some more research and found out something "wrong" with the keywords of the domain. so they offered $2,500 "take it or leave it" but was more steering towards CANCEL NEGOTIATIONS.

    You are right of course.

    Why do I need to cancel the entire post? I modified the actual domain so I doubt it can be found via Google results. will it?
     
  6. domainwest

    domainwest Active Member VIP

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  7. usernamex

    usernamex Moderator, NamePros Moderator VIP

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    Use the "Edit" button and either delete the whole thing or edit out any information about their company and the domain name
     
  8. hxp

    hxp SuperDuperUltraRarePremiumHolographic Member VIP

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    Your choices are:

    1. Accept it and move on.
    2. Renegotiate and ruin your reputation, as well as your sense of integrity.
    3. ???

    Answer is obvious IMO.

    I personally wouldn't be inclined to work with you knowing you pull, or have pulled, this kind of sh*t...
     
  9. TERADOMAIN

    TERADOMAIN Upgraded Member Gold Account VIP

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    Commitment is very important in life. Its easy to say but hard to follow in life.

    In short no ooops no aaahss... No reason to think anything else. No other reasoning or any other choice.

    Follow right thing and honor your commitment. Everything will be placed in right place by itself.

    Thanks
     
    Last edited: Apr 16, 2018
  10. usernamex

    usernamex Moderator, NamePros Moderator VIP

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    Take out THEIR company name, just because you masked the domain name doesn't mean one of their 2500 employees won't stumble across this post looking for something about themselves

    And now if you don't act fast you won't be able to edit
     
    Last edited: Apr 16, 2018
  11. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    You would think.., no?

    Seems to be a (greedy) norm to be pulled by this domainer and a very viable reason to heed your inclination. imo.
     
  12. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    I've always known the answer is obvious.
    Sure does make you feel stupid not having checked the email address. but hey it's $7,000. not too shabby. Where else can you turn $10 bucks in $7,000?

    I'll let you guys know once the sale is complete.

    I don't know why I post these on here when I already know what to do. I guess I just want a last ditch second opinion.

    And I haven't "yet" pulled this kind of sh*t. so will you still deal with me? lol

    damn. Money sure does test ones morals and integrity.

    Next time? Check the email address! lol

    Thanks.
     
  13. domainwest

    domainwest Active Member VIP

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    edit the company details ..
     
  14. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    too late. it's ok. if they see it they see. I'm agreeing with their $7,000 and that's that.
     
  15. TERADOMAIN

    TERADOMAIN Upgraded Member Gold Account VIP

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    If Money does test our morals then we don't have morals but policy in life which changes over the time.

    Thanks
     
  16. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    this is true. Thanks.

    should have looked at that email address. lol actually I thought it was some university email address.
     
  17. TERADOMAIN

    TERADOMAIN Upgraded Member Gold Account VIP

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    I know you are good person. No need to worry. Just stay on right path. Its very hard and challenging but stay on it with seat belt.

    Thanks
     
  18. imadoer

    imadoer Active Member PRO VIP

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    What ever happend to ethics? what if you cancel then he backs out?
     
  19. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    ok Hawkeye. I've been noticing you have an issue with me. May I ask why? Did I ever cheat you or screw on a deal?

    As far as greed is concerned? I am not an isolated "incident". Greed is pretty rampant in domainer circles. You only have to check the ridiculous pricing for some domains over at Sedo and Godaddy.

    $500,000? $600,000?

    to single me out as "Seems to be a (greedy) norm to be pulled by this domainer"

    is a bit off isn't it? I have been more than transparent with certain "deals" I've had in the past on here. a bit too transparent actually.

    true "bad" people? hide in the shadows and would never give anyone especially on here a "hint" of what kind of person they are if their intentions were to cheat or scam anyone.

    How can you cheat someone if they already know who you are? right?

    ergo. I'm not here to cheat or screw anyone.

    The point of this thread was to pose a question and get answers. which was successful.

    am I kicking myself for not checking the email address first? sure.
    am I gonna reneg on this deal? As it stands it's done. I was 99% with the idea of just kicking myself and taking the $7,000. Not a bad way to kick yourself really. lol

    It's really the 1% that's asking the question.

    I like to bring up topics on NP that can get a discussion going if for no other reason than that really.

    and from the looks of it. It worked.

    My mistakes can be a learning experience for everyone on here.

    I have nothing to hide.

    Final note. "Let he or she who is without sin cast the first stone."


    actually if anyone has ever been in a situation where realized they could have asked for more and thought about asking for more after agreeing to a price.

    Please do contribute here. I can't be the only one.

    Thanks for the replies. Good luck to everyone.
     
  20. Avtar629

    Avtar629 MarketDN.com Gold Account VIP

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    yea exactly. this has happened in the past already so the "Greedy" domainer in the end got screwed.

    I'm slowly realize at this point that the way sites like HugeDomains and Namebright and BuyDomains price their domains that they dropcatch really is a smart way to go.

    $2,500
    $3,500
    $4,500

    really is the "Sweet spot".

    It's these Mike Mann sales news that I think makes as all a bit greedy at times.
    Like a gambling addict looking for that "big score".

    Slow and steady always wins in the end.
     
  21. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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  22. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    I don't have an issue with you, I don't know you, but your ethics..yeah.
    The fact that you were even asking your question 'after' you admittedly accepted the offer, shows that you were looking for validation from someone/anyone to do so.

    Yes it is, and you've more than once have proven yourself to be in that circle -
    ..along with other posts you've noted prior as pointed out by usernamex -
    Just seems to be a pattern with you, and not a cool one imo.
     
    Last edited: Apr 17, 2018
  23. Keith

    Keith Top Member VIP ★★★★★★★★★★

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    If you accepted the offer then it’s a done deal. Sellers remorse is the worst and there is no way you can be respected if you don’t sell at the agreed price.
     
  24. Daniel Owens

    Daniel Owens Upgraded Member Gold Account VIP

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    You, should have looked closer at the email and did more research but since you didn't your loss should be his gain as you agreed to a very nice high price. The quality of the domain is excellent but not everyone can afford such a liquid domain. Overall, best advice take the money keep the deal even if it's just verbal through email and not through a platform. Get a rep for being an honest good-hearted domainer!
     
    Last edited: Apr 17, 2018
  25. MetBob

    MetBob Active Member VIP

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    Agree with those that say don't even think of renegotiating - you accepted an offer, and you should honour that.

    I would also mention that to me it looks like you are getting a great price on the domain name anyway. I really don't feel it is worth more than what their offer is.

    Take the cash and be happy.
     

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