question I need financing for $50,000 deal. Options? Time sensitive.

[WhoaDomain.com]

Hello,
I have a deal for $50,000 for a domain.

The buyer has $25,000 cash but needs to finance the rest $25,000.

We tried @Lendvo Domain Financing and they seem to be dragging their heels and now I contacted them @domaincapital

Does anyone know some other options? thanks in advance.

 

[WhoaDomain.com]

So are you going to let us know what happened @WhoaDomain.com ?

Sure once I lock it down. It seems the final result will be a payment plan with interest over 3 years with $30k upfront. You guys can so the math on 3 years.

Buyer will also have option to get a conventional bank loan for the $20k to avoid the interest I am charging. Although he will incur probably create interest at the bank than with me but he is very adamant on having this domain in his hands right away for his own reasons which I won't question and will respect.

So all in all I think this is a done deal. I just hope he is ok with the fees and the interest that goes to me.

Also I don't think he has credit issues so bad that he can't get a traditional loan. Did a quick background check and financials and he seems (on paper) to be doing well. We all know how difficult it is these days to get a bank loan in a time frame you want even with good credit. I think the buyer thought things would go smoother with a company that specializes in financing domain acquisitions. You would think. I guess he was wrong? I don't think banks even have a "section" that handles domain financing. Cars sure. Real estate sure. But intangibles? Nope. This is why I suspect he did not go that route immediately. I'm not 100% sure.

I think if this pandemic has rocked this economy and banks to its core then surely the same goes for domain financing options. It doesn't necessarily speak to the buyers ability or inability to repay a loan. I think most companies are just now more cautious than others during this time of uncertainty. Yeah sure you will see the occasional domain sale here and there for $10k and $50k. I think that is more of an indication that smart people are realizing where this is all headed. Physical retail stores will go the way of the Dodo and digital is the future.


So yeah. This deal is pretty much done at $50k barring anything catastrophic. Crossing fingers and hoping for the best.

 

[Donnyd]

Option 2. Buyer finds another domain for 25k and deal is lost.

Take 25k spread it out over 12 months at escrow.com. And be done.

 

[WhoaDomain.com]

I really don't see your problem

just take the $30K USD and the monthly installments

you are not an easy to deal with person...

As stated. For whatever reason the buyer is of the mindset to find a way to get financing for this domain so he can give me the full $50,000. I keep repeating myself over and over again.

Me? I don't care either way. I offered the $30K down and $20K in installments but the buyer seemed hesistant.

That's not my fault. But as a seller you need to accommodate your buyers need or want. You can't push what you want and ignore what the buyer seems to want which is do some type of financing where he ends up paying me the full $50K and he walks away with full control of the domain.

Don't ask me why. This is what he wants.

Option 2. Buyer finds another domain for 25k and deal is lost.

Take 25k spread it out over 12 months at escrow.com. And be done.

I have had situations like that happen on the regular. Trust me. but I have never met a buyer who transparently showed me how much they like this domain.

He genuinely likes this domain name so I'm confident Option 2 isn't really an option for this buyer.

People like what they like.

I think we are close to finalizing this deal. I'll give you guys updated.

 

[WhoaDomain.com]