question I accepted a $7G offer. Then find out buyer is whale. Can I cancel?

[WhoaDomain.com]

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.

 

[xynames]

Finally a sale ? congrats !

No, I think he is saying that...as usual...nothing sells!

It kind annoyed me. I thought I had good sales coming to me.
So since they were all offers. I pushed them all to auction,
he was getting on my nerves.
Of course he stiffed me after the auctions were over.

So yea those domains are still with me
I'm assuming Sedo penalized him or something for stiffing me on the bids. who knows?

 

[BMWMotoRider]

Don't confuse a new buyer by trying sell a second domain. Always close one deal then move on to the second after money is in your bank.

Just my opinion.

Interesting. I often have a singular and a plural of a name. On my last transaction, I mentioned it to the buyer, saying owning both would benefit him. He thought about it for a day and said he wanted both to protect his position. That resulted in an additional $1500. But, I'm starting to rethink that position. I think it could trip up the sale.

 

[Joe123]

I O T M M S dot com is still listed for sale.

@WhoaDomain.com did you end up selling it?

 

[ivey]

Honor the price and correct the mistake in the future. Believe it or not, they don't need the name and that may be the last time you get any offer close to that for that name if any.

 

[WhoaDomain.com]

I have to apologize. Believe it or not but NP's system of alerting people of posts to their threads they created sometimes does not alert the OP.

Some of the posts on here I either miss or gets lost among all my other alerts of which sometimes can be in the hundreds.

I don't purposefully ignore replies to my threads. The recent two I did see just now.

I agree it is rude to ignore replies to thread but only if you get the alerts to actually see the replies. I don't go on here as much.

full disclosure. This deal fell thru.

The buyer actually agreed to the price I wanted. I forget now. I think it was $10,000 or I even got them up to $15,000.

Here's the thing.

The buyer was the director of their IT department.

I suspect he pitched the "idea" of naming a new product line "IOTMMS". To the point he convinced the owner to reg the TM.

I'm guess it was a "woops" moment that the domain was new secured by him.

he told me he was pay the remainder of the difference just to get the deal done.

so yea I was about to get the $10K or $15k or whatever it was.

and at the last minute his boss put the Kibosh on the whole thing.

So go ahead laugh it up. Yes I got greedy. but in thee end the "buyer" did offer $10K/ $15K because it was taking too long.

he wasn't upset about it. definitely did not kill the deal. He understood.

The problem was the boss was just a "character" at least from what he told me. in fact from what he said even the $7,000 was way above budget and ultimately even the $7,000 needed to be cleared with the boss just like the $10K or $15K even if much of it was coming out of his own pocket.

so to be clear. Had I accepted $7,000. It still needed to be cleared with a "character".

So ultimately. I wasn't really dealing with the "decision maker" just someone who wanted to cover his ass and not look bad to his boss that he came up with a great name for a product and forked up the cash to register the TM and in thee end. not owning the exact match domain at REG price made it no longer appealing. to the boss anything above Reg price was "too much".

The trademark is still registered and LIVE as far as I know. If anyone wants to take over from here as far as this domain is concerned. The ball is in your court.

regardless of this set back this domain is still a Premium EMD domain (6 letters) and I am willing to part with it at reseller pricing and give someone else a shot it. Offers welcome.

IOTMMS.com

Internet
Of
Things
Mobile/Management
Management/Mobile
Service/System

case closed. moving on. Thank you all for your replies.

 

[xynames]

As I said before, which he just confirmed yet again, above:

Most all of his threads are premature musings about hoped for offers that never close, or seeking advice that he ignores. It's fine though, but not worth all the input and effort from members that I do not believe he listens to anyway.

Avtar629 (WhoaDomain) has a general policy of trying to get a very high amount for all of his domains. No matter what anyone offers he always decides that he should get more. Almost all of the time this policy results in the deal’s falling through.

Right or wrong avtar629?

 

[golan]

Avtar629 (WhoaDomain)

OMG! And i couldn't figure what or whom this new kid on the block reminds me of.

You nailed it.