advice I need help

[Bonsu]

So I bought a domain last year November during m//i//m//a//s//t//u//d//i//o. King

Listed it for sale in top marketplace with dan.com as it's main lander. I realised after a while the domain starts getting views and clicks for the Netherlands.

July this year I got an offer $2500(initial offer) for the domain from a guy in Netherlands (dan.com says he company's name is an exact match to my domain). Truth be told I didn't know the value of that name infact I've tried outbound to sell for $145 with no response. I accepted the $2500 and buyer disappeared (I didn't counter). Details dropped by buyer were not correct so I could not follow up.

AUGUST
I get another offer from product development/marketing manager of a company from Netherlands with a company name + emd combo of my domain (i.e ossur + emd). I countered with $3500 and they replied immediately that $1500 is the best they could do for a product they were about to lunch and my domain is an EMD of the product with transaction to be completed immediately if I accepted. I needed the cash flow and this would have been my first $xxxx sale so I accepted. Unfortunately, network was bad as my accepted offer wasn't showing on my Dan.com offer page so I tried clicking three more times with no result only for the buyer to send a message again that he is not comfortable with the transaction as it appears a bit keeps sending the same message over and over again (apparently my accepted offer was been submitted over and over again without it reflecting on the page) and he said he can't continue with the transaction except if Dan's support guarantees the transaction of which they had closed by that time (8pm GMT+1). He said it's either I proceed with escrow or GoDaddy to complete the transaction. I didn't feel it was right since the whole process started with Dan but buyer walked away.

SEPTEMBER
Another offer from a company from Netherlands this time around the co-founder/CFO of the company (assets management company) tries to buy the domain for $2500 on Dan but had payment issue so he sent a message that he would pay $2500 and I should let him know if his offer has been accepted as he can't seem to pay as Dan keeps declining his card. He said if he can't proceed he would simply get the cctld .nl for the said domain. I noticed the .nl was available so I bought it. Buyer went quiet again.

I got pissed off and changed the nameservers to sedo with a bin of $5000 and three days later it sold. I was damn happy and was feeling proud of my self. Sedo sent a mail that buyer paid via wire transfer and when the money hits their account after 5 business day they would let know so we can proceed. I waited, waited, waited, waited....... No response, so I contacted sedo and they said they sent a message to the buyer and buyer reconfirmed it was done via wire transfer. After a month of waiting I cancelled transaction as buyer didn't respond to them again. Details was provided and it was another buyer from Netherlands- a different company.

NOVEMBER
After the sedo sale disappointment (lucky I didn't go on a buying spree thinking $4500 payout was going to hit my account except an expired name which I won on sedo and didn't pay for it since my name was not paid for $69)

I changed the nameserver to Dan again and last Friday I got another offer from a start up from Netherlands with an offer of $1500 and the best they could do is $2500 however as previous buyers they were not comfortable with Dan's payment and requested escrow.com or godaddy and if I do not agree they would buy the .nl. I provided my escrow account email and accepted their offer but no response.

The name was expiring this month so I moved the name to namesilo and listed it for sale using namesilo lander. Kindly note, this last buyer came immediately I renewed the domain so I guess he was expecting it to drop.

I don't know what to do anymore. Your advise could help. I could not contact these previous buyers even if I could get their details via Facebook and LinkedIn but my Nigerian origin might scare them.

What should I do?

 

[Windoms]

He is a director in the other company

You didn't answer.
After buyer's details were released to you.
Was it [email protected].
Or [email protected]?

You should read this.
https://www.namepros.com/threads/so...ld-time-11-month-purchase-price-1260.1067230/

D/I/G/I/T/A/L/G/L/O/B/A/L/./C/O/M
​

Purchase Price: $1260

Sell Price : $13,000

Escrow.com concierge (Buyer paid fees)

Hold Time: 11 Months

I do not post 90% my sales. But this one was really interesting one and unique one. So I thought let me share my thought about it with all of friends here on Namepros. I learned a lot from friends here on namepros. So I consider it as my duty to share with all of you if I learned something new. I strongly believe I let go this name for less than it can fetch considering magnitude of this name. So broad and appealing. But profit is profit end of the day. Hahahaah

• I won name from Godaddy expired auction for $1260. I really liked the name and almost thought about it to keep as my parent company name ( I had 2/3 other names too for parent company name).
• Listed at Sedo, Flippa from the day I received name in my account. I should have listed at other places too like Afternic. But I never thought about selling it so never listed multiple places.
• In December 2017 I decided to move some of my names to Undeveloped until I have my own portfolio site. I like Undeveloped because of no junk ad plus nice and clean offer page.
• Listed this name on Undeveloped on first week of December 2017.
• January 31st 2018 I received offer of €1,000.
• Little negotiation via message board in Undeveloped and we decided to agree the deal for $10,000
• 2/3 days and no payment.
• I messaged Undeveloped to find out what is going on. They said Buyer having hard time sending wire transfer to their bank because his bank is not feeling comfortable to send wire outside USA.
• Little communication back and forth with Undeveloped by me as well as buyer. Team of Undeveloped having hard time with buyer due to his bank not willing to send Wire outside USA. Undeveloped give him multiple choice but none of them worked out and deal got cancelled. Undeveloped team suggest me to deal with this gentleman only and only via reputed Escrow services. I am very thankful to Undeveloped for that extra care towards seller even deal got cancelled.
• Buyer contacted me immediately via text after deal got cancelled in Undeveloped.
• I called buyer to his phone number to find out what went wrong. That is first time I got to know who the interested buyer was.
• Buyer said he is interested to buy the name. I told him the deal got cancelled because of your Bank's inability to send wire transfer. Buyer said His Bank may send wire to locally (USA). I told him Escrow.com is the best and only solution but give me sometime to think about it because deal on Undeveloped got cancelled because of buyer's bank's inability to send wire.
• I thought about few hours. I was literally 50%-50% and not sure if buyer legit or not.
• I did my little research on namebio to see what Digital+Keyword as well as Keyword+Global average historical sales price. I found range around $15K-$20K.
• I thought let me share my true feelings with interested buyer before we initiate new deal via Escrow.com instead of lie to him like I got new offer from someone with higher offer bla bla bla. I thought I did all my deal with honesty to lets stick to that path without any different thought. It is very easy to lie but it require lots of courage to stick to right path. But believe me right path show us correct direction even road is very challenging.
• I called buyer same evening (after 3-4 hours) and shared what I feel about name and what it worth if we compare to historical sales of similar names. I shared true feeling and said to buyer that I think actual worth of name is different so I leave it upto you. Buyer said he will do $13K max and he take care of Escrow.com fees. We agree to new terms and price before we initiate new transaction via Escrow.com.
• Buyer was aware of Escrow.com but never did transaction this high in past via Escrow.com
• I help him understand their escrow.com concierge service and request him to use that option for peace of mind for both because in escrow.com concierge service. Name gets transferred to Escrow.com account and they release fund right away once they receive name in their account. Then name gets transferred from Escrow.com account to buyer's account. This service cost little extra but it is worth it when we do Five figure or higher transaction. Its extra layer of protection.
• We initiated transaction in escrow.com using concierge service.
• Weekend start. So we waited for 3 days.
• Monday I called buyer to find out what is going on and asked him let me know if I can help out anyway. Again Buyer's bank says no to wire transfer. Buyer said give him some time and he may go to different bank to see if any other bank can help him wire money to Escrow.com.
• Buyer got tired after hearing no from all bank for wire transfer.
• Buyer requested Escrow.com to see if they accept Cashier's check or Money order or Personal check. Escrow.com said they do not accept those. It was very strange because I found out that on their website they says they accept those as alternate payment method. See here it still says. https://www.escrow.com/domains
• Please visit above link and you will find following line under buyer's benefits "Ability to pay by wire transfer and in some cases PayPal, check, money order, or credit card "
• I also talked to Escrow.com to find out how they will help us closing this deal. At that moment they were keep telling me different stuff which literally does not match what their acceptable payment method present on the site which is still present.
• I talked to Escrow.com customer support to help buyer as much as I can to close the deal because I knew buyer never did this kind of transaction in past so he do not know. As a seller it is our duty to help buyer as much as we can.
• We are not getting anywhere. My brain says so many red flags because how on earth bank can say no to wire transfer our money??? But my heart says buyer is legit who do not know so many things about how to do this type of transaction.
• Buyer got tired and offered me to drive half distance and me driving half distance to seal the deal. I said let me think about it.
• Again My brain says so many red flags because how on earth bank can say no to wire transfer our money??? But my heart says buyer is legit who do not know so many things about how to do this type of transaction.
• We were not getting anywhere because we were not getting proper help from anywhere. We almost decided to cancel transaction again. Buyer also contacted Escrow.com to cancel transaction. But Escrow.com said they can't cancel until they get confirmation from seller.
• I found out what is policy of Escrow.com. I learned deal automatically get cancelled if buyer do not submit payment in 2 or 3 weeks.
• I told buyer lets keep trying. I told him I am not going to cancel the deal from my side because I am ready to do everything from my side to close the deal. The ball is in your court and I am ready to help you as much as I can.
• Buyer kept trying with various banks and not getting proper help from banks.
• We also decided to cancel current transaction and create new transaction with Escrow Domain Holding service where you can get choice to submit multiple payments after first payment gets submitted via Wire.
• I tried to learned what is Escrow Domain Holding service and how it works. I also contacted their customer support to find out what if buyer pay initial small payment via Wire and remaining payment via Moneyorder (USPS Moneyorder)??? We never get satisfactory answer from Escrow.com customer support regarding that because they never said yes that is possible. I asked them we are trying to minimize lose to both party and try to understand your system before creating new transaction. But no satisfactory answers.
• I kept trying various options but I was firm to close deal via Escrow.com only and no other option. I learned Escrow.com do not have lots of clarity from their side too. They should have clear cut transparent policy which one can understand very easily.
• I regularly call buyer every evening to see what is current status.
• On one evening I was communicating to buyer and listening to understand why his bank saying no to wire transfer. Buyer said " Bank do not know why they are transferring money??? To whom?? Is this for Drugs or some illegal activity"???
• I told buyer why bank has confusion?? Please let your bank understand what Escrow.com is. Please show your bank our agreement on Escrow.com that we are trading digital asset and you are paying to get digital asset transferred to your account after payment. I told buyer to show all documents to your bank. I told them please let your bank know that Escrow.com is licensed escrow services who completed $3 Billion worth of transaction.
• Buyer showed all those documents to bank. Bank transferred those docs with explanation letter from buyer to higher authority. They approve everything including agree to Wire fund to Escrow.com account.
• Bangggggggggg
• Money received in Escrow. I transferred name to Escrow.com account. They released fund to me as soon as they received money in their account. Then name get transferred to buyer.

My intention to share about this transaction is only and only because we can learn from each other. Sharing is caring.

• Its very challenging to walk on right path. But my tiny little experience says it works.
• Always share your honest feelings and facts to buyer regardless of he knows the market or not.
• Always care about people around us. Honesty is the best way to move forward in life by keeping right intention in center of our action.
• Do not wait for buyer's willingness to do something. We as a seller must take 1st steps or as many steps possible to help buyer as much as we can.
• Please get involve with buyer to decrease his burden by helping him as much as we can.

Special Thanks to @Undeveloped . I truly believe their special customer support is something special. They care for their member. At least I experienced it.

I also love Escrow.com because they worked really well for me. I have no personal complain against them as well.

You are most welcome to share your thought about this transaction so we all can learn something from each other.

Thanks

 

[Jurgen Wolf]

July this year I got an offer $2500(initial offer) for the domain from a guy in Netherlands (dan.com says he company's name is an exact match to my domain)... I accepted the $2500 and buyer disappeared (I didn't counter).

This year I had the same case with Brazilian buyer at Dan lander, he offered $2,200 - I accepted without negotiations, then he disappeared (not paid) and that's all.
And I know 100% that such Brazilian EMD company exists.

 

[Jurgen Wolf]

What should I do?

I could recommend @Sedo but they will show your country...
So transfer to Epik, set BIN and park on their platform.

 

[Soofi]

As someone suggested you should really consider using @Epik.com, the buyer maybe fake but look like 2nd and 3rd really wanted the name but gone because of Dan.

You should better use Epik or Efty then let the deal sealed. I recommend you epik as it can handle the payment and buyer can pay via many methods including crypto currency.

SPOT ON!

 

[wwwweb]

As someone suggested you should really consider using @Epik.com, the buyer maybe fake but look like 2nd and 3rd really wanted the name but gone because of Dan.

You should better use Epik or Efty then let the deal sealed. I recommend you epik as it can handle the payment and buyer can pay via many methods including crypto currency.

What payment processor does Efty use, Escrow.com?

 

[Jurgen Wolf]

https://docs.adyen.com/risk-management/configure-standard-risk-rules/referral-rules
Useful article...
Many reasons are stated there, the most interesting - even buyer's email address can be a reason for denial by Adyen.

@DAN.COM

 

[Acorn]

Useful article...
Many reasons are stated there, the most interesting - even buyer's email address can be a reason for denial by Adyen.

@DAN.COM

Wow!
They actually stated a LOT of reasons for which they could block transactions.
Little wonder the Dan payment issue seems to be a recurring decimal despite Dan's denials that the issue exists.

 

[Bonsu]

You didn't answer.
After buyer's details were released to you.
Was it [email protected].
Or [email protected]?

You should read this.
https://www.namepros.com/threads/so...ld-time-11-month-purchase-price-1260.1067230/

247web.net

 

[Josytal]

Simply extend the domain renewal date 3 or more years upward. Relax.

I had a similar experience with a Canadian company. First a proxy company, and then the CEO himself sent an offer, via my private marketplace, to purchase a domain - sosequipment/king. Everything agreed. They disappeared. I discovered they went ahead to secure the .ca extension.

But intermittently they type-in and visit the domain landing page (I could see that in the log), most probably waiting for the domain to expire and drop. I've decided to extend the domain expiry date 3 years upward and monetize the traffic with competitors' ads.

 

[TauseefKhan]

enable privacy on your domain. and list it at your preferred buy now figure.

 

[karmaco]

This buyer is obviously playing games. Nobody has payment issues at numerous platforms. Just set it back to a BIN in a place where they are required to pay immediately and be done with it. Its not your fault.

 

[Bonsu]

This buyer is obviously playing games. Nobody has payment issues at numerous platforms. Just set it back to a BIN in a place where they are required to pay immediately and be done with it. Its not your fault.

They are different buyers at least 2 of which I am certain

 

[ksusha64]

I wish u do amazing my friend!

 

[jideofor]

Hey, sorry man. It is the same buyer toying with you. Renew that domain name and leave it on Godaddy at a price of $5999 or thereabout.

What I feel is that someone is interested in the domain name but want to frustrate you to sell it cheaper. DONT!

 

[Ostrados]

Dan usually releases buyer phone number after failed deal. did you try call them?

 

[Bonsu]

Dan usually releases buyer phone number after failed deal. did you try call them?

Can't call from Nigeria. However, 2 if the numbers ain't correct

 

[oskaaay]

This is really interesting coming from a fellow Nigerian.
Hoping for an update that you eventually got a sale. It will worth it.