Made an offer but is it legally binding?

[Jason Boyle]

Hi,

I am new to domain buying etc. I saw a number of domains that I liked but was not available on godaddy.
But one domain was on sale on Sedo and another on domainnamesales.com.

For the domain on domainnamesales.com.
The website allowed me to make an offer by entering my email address, name, and phone number. Not sure what I should offer, I just put $3000. Pretty much the next screen said, we will let you know etc. So I moved on. to the domain on Sedo.

So for the domain on Sedo, I was asked if I wanted to make an offer for the domain (different from domainnamesales domain but close). On the webpage it was clearly noted that all offers are legally binding and they take down all your personal information after you put a number down and finally the website completes the offer.

Anyway few days later, I get an email from DomainNameSales rep saying my offer of $3000 for the domain has been accepted and now i have to pay for it and my offer is legally binding.

Question.

1. Is submitting an offer on DNS really legally binding, when they did not state or warn you that the offer that you are submitting is legally binding? Compare that to Sedo, they have clearly stated in multiple pages how the offer that I am about to submit is legally binding.

2. DNS only took down my name (not even my full name or real name, my email address and my phone number. Can they really enforce the "legally binding" offer?

3. Have any of you had experience with DNS or been in similar situation before?

Like I said, I am very new to this and did not realize that I would be stuck in this situation.

 

[inforg]

If you made an offer, you should honor it. Breaking a deal is not a good way to start in this business.

 

[aramyus]

Probably they have no way to enforce your payment, but you risk to ruin your reputation.

If you made the offer by mistake, may be you can try to apology and plaid an error (especially if your offer is out of proportion with the market value)

 

[Haris]

If you made an offer, you should honor it. Breaking a deal is not a good way to start in this business.

He is new to this and didn't knew that it will be legally binding, he should have read the TOS but it's a mistake.. not intentional.

 

[inforg]

But it was intentional. He didn't accidentally put an extra zero or offer on a mis-spelled name. He knew he was offering 3k for the domain.

The very least he could do is get the seller's PayPal email and send him $50 for wasting his time.

I'm shocked that people on a domaining forum would think it is ok to place bogus offers on domains.

 

[loredan]

Play & Pay is the name of the game. You can't just browse around sites and play "eh, I'll make a $3k offer here, a $2k offer there, another $3k offer there and I'll see who bites first".

At DNS I think every offer is binding for 7 days so if the seller replied within this time frame you should complete the deal imo

 

[SBS66]

...

I'm shocked that people on a domaining forum would think it is ok to place bogus offers on domains.

Me too.

 

[Nattydomain]

My question is WHY did you put in a random $ of $3,000 IF you are not really ready to pay that much. If you just wanted to see what the "next screen" would say then your offer should have been much much lower. Now personally as the seller if you tell me "yea $3000 then I am saying DEAL" and we start the process. Now you want to back out of that process then we have a problem

 

[wwwulff]

You are new in this business, but are you also born yesterday? There exists no serious industries where you just can make a offer and not live up to its commitments

I hope your bid is legally binding and you will get no sympathy for that kind of behavior here.

 

[DnEbook]

There are bad buyers across all the sales platforms, avoiding being one of them

 

[Beezy]

Good luck in prison, buddy.

 

[DU]

"The Purchase Price BUYER has been quoted is non-exclusive and valid for a period of seven calendar days. Acceptance of any offered Purchase Price is solely contingent on receipt of payment in full in the manner stated in Section 2. Prior to performance of BUYER's payment obligation hereunder, SELLER retains the right to offer and sell the Domain Name to any third party at the SELLER's sole discretion."

If you read the terms (and I'm not sure that the offer forces you to read the terms ) the seller is under no obligation to sell and the acceptance is contingent on receipt of cash. There is no accepted offer UNTIL payment is made.

"Failure of payment of the Purchase Price within the time specified shall terminate this Agreement, and SELLER shall have no obligation hereunder." and "SELLER and BUYER each agree that the prevailing party of a claim or dispute under this Agreement shall be entitled to having its expenses incurred in enforcing this Agreement, including, but not limited to, reasonable costs and attorneyís fees to the maximum amount permitted by law, paid by the other party."

In other words, DNS don't really care about enforcing anything and you'll have to duke it out in the Cayman islands.

Moreover, their PLATFORM allows them to quote a price and then turnaround and say ... well I got a better offer... the whole platform should go to jail, was born yesterday, and people should have a problem with it. Apparently, the platform should have its reputation ruined ya dee ya da.

Don't even worry about it. I don't see anywhere where it's binding but I can't even see where you put in an offer. All you can fill in is a request for a quote which isn't really the same thing.

 

[Haris]

But it was intentional. He didn't accidentally put an extra zero or offer on a mis-spelled name. He knew he was offering 3k for the domain.

The very least he could do is get the seller's PayPal email and send him $50 for wasting his time.

I'm shocked that people on a domaining forum would think it is ok to place bogus offers on domains.

It's not okay. I have also received offers at GD and the 'buyer' didn't paid. That sucks for the sellers. Anyone who is a domainer and/or knows that offers made at marketplaces are legally binding but still making bogus offers is not in his right mind. I would condemn that.. The OP didn't knew that the offer is legally binding, that's all I am saying.

Not knowing that the offer was legally binding is his mistake, we must not presume that he was ****** with the sellers or wanted to do fraud.

 

[SBS66]

Good luck in prison, buddy.

Lol..if he lives in US, there is no debtor's prison

 

[NPer]

Lol..if he lives in US, there is no debtor's prison

Yeah, at best it's a (very weak) civil case-which differs from a criminal case. There is no prison time for payment disputes, at least in the modern world which enjoys democracy.

Now if the inquirer and seller are based in Pakistan... the inquirer may have just run out of luck. They have the Kangaroo court justice system.

 

[SBS66]

Yeah, at best it's a (very weak) civil case-which differs from a criminal case. There is no prison time for payment disputes, at least in the modern world which enjoys democracy.

Now if the inquirer and seller are based in Pakistan... the inquirer may have just run out of luck. They have the Kangaroo court justice system.

This is probably going to sound naive but... I don't condone what the OP did, regardless of intention; as @wwwulff observed, OP was not born yesterday. However, as a seller, if I had a situation like this, I just cut this guy loose and move on with my domain name. I'm not willing to spend my time forcing a sale or anything else while opportunities for a sale or a better sale pass me by; it's a waste of time in my book.

 

[Proper_Sharp]

I understand it from both points of view... Take it as a lesson learned and explain it was just a stupid mistake to the rep who contacted you. You have to think next time that behind all this there is a hard working domainer looking to see the fruits of his labor.

Be apologetic and sincere and offer the seller a small amount as a gesture of good will if you are really sorry.(you can probably find him by typing the domain into whois)

 

[golan]

But it was intentional. He didn't accidentally put an extra zero or offer on a mis-spelled name. He knew he was offering 3k for the domain.

The very least he could do is get the seller's PayPal email and send him $50 for wasting his time.

I'm shocked that people on a domaining forum would think it is ok to place bogus offers on domains.

Good thing it was only 3K, not 400K like in this story https://www.namepros.com/threads/co...omain-name-for-400-000-from-mike-mann.941328/