Is Sedo BIN binding?

[Truespin Domains]

I went to purchase a BIN domain on sedo yesterday but ran into issues with payment due to an issue with my PayPal account. That's all sorted but after all the fiddling around I decided I couldn't be bothered to buy it anymore. However I've since had an email from Sedo saying thank you for your purchase and please make payment.

Two questions, will the owner have been informed of the purchase yet? If so, I will continue with purchase as I don't like to mess people about.

If not, does sedo allow cancellation of BIN purchases?

It's not much money on the line here > 100usd

 

[Furquan]

As per my best knowledge, every offer on a domain name is bindding.

I don't think someone put a $100 BIN as sedo take $65 as commission

 

[NickB]

Buyer would of been made aware via email

Regarding Cancellation Policy - see below their policy

Refusing to follow-through with a successful bid
Buyers automatically enter into a legally binding contract to purchase a domain from the seller if their bid is accepted by the seller or if they accept a seller's offer to sell. Give careful consideration when making or accepting offers. Sedo's user agreement requires buyers to pay for the domains that they have committed to purchase. Buyers who refuse to follow through with domain offers that have been accepted by the seller are potentially liable to the Seller for breach of the sales contract to which both are parties.

https://sedo.com/uk/about-us/policies/rules-for-domain-buyers/

Hope the above helps.

 

[Truespin Domains]

As per my best knowledge, every offer on a domain name is bindding.

I don't think someone put a $100 BIN as sedo take $65 as commission

Well they did. $99

 

[Truespin Domains]

Buyer would of been made aware via email

Regarding Cancellation Policy - see below their policy

Refusing to follow-through with a successful bid
Buyers automatically enter into a legally binding contract to purchase a domain from the seller if their bid is accepted by the seller or if they accept a seller's offer to sell. Give careful consideration when making or accepting offers. Sedo's user agreement requires buyers to pay for the domains that they have committed to purchase. Buyers who refuse to follow through with domain offers that have been accepted by the seller are potentially liable to the Seller for breach of the sales contract to which both are parties.

https://sedo.com/uk/about-us/policies/rules-for-domain-buyers/

Hope the above helps.

Have paid.

 

[NickB]

Have paid.

As you said it's only $100 so it's not worth potentially getting banned from SEDO for that amount

 

[Truespin Domains]

As you said it's only $100 so it's not worth potentially getting banned from SEDO for that amount

Yes. And equally I don't want to be a dick if the owner has already had an email re the purchase. In theory at that point the world changed, and he could have in theory rejected a better offer because of mine.

I don't usually use Sedo, particularly BIN, and the process felt more like you'd pop something in your basket on amazon.

But a deals a deal.

That said, I think he's underpriced the domain (only just added) so will be interesting if he actually goes through with it.

 

[D Haynes]

Good on you for honouring the agreement.

A failure to pay would see account restrictions or a ban but Sedo would never chase you legally. They send your information to the seller and it's then up to them to persue any legal action (For future reference).

 

[NickB]

Yes. And equally I don't want to be a dick if the owner has already had an email re the purchase. In theory at that point the world changed, and he could have in theory rejected a better offer because of mine.

I don't usually use Sedo, particularly BIN, and the process felt more like you'd pop something in your basket on amazon.

But a deals a deal.

That said, I think he's underpriced the domain (only just added) so will be interesting if he actually goes through with it.

If it's under priced you've grabbed a bargain, if they don't go ahead you've saved $100

Either way it's a win win

 

[slader23]

If it's a too good to be true name, seller will say one of the following:

1. Already sold the domain and forgot to delist.
2.Put the wrong price.
3.Will not be selling the domain.


I've had this happen to me before. Bought HitFM.com for $120 and seller (who owns thousands of domains) refused to sell the domain because they had the wrong price. Even if it's binding, Sedo will not enforce the agreement. They will only provide you with the sellers information for you to take your own legal action.

In the slight chance it's a non-domainer selling the name that doesn't know the value, you'll be able to get the name.

 

[shig]

Maybe it was meant to be the minimum offer - if not it is probably a dud. For $100 its worth a try (unless it requires wire). If it was more expensive, I do a who is and reach out directly to the current owner and just ask. I have had duds as buy now listed in the last 7 days. Not sure how Sedo lets this happen but it cost me a $30 wire transfer fee and 30 minutes of my life talking to my bank rep about why I am buying stoner.com. The life of domaining...