Labeled as alert in Warnings and Alerts started by wot, May 22, 2018.
Sorry to hear that. Something needs to change in our industry.
Had two BIN on undeveloped never show up with their payment. I guess that means they really werent too serious because whether it be 10% of 100% (BIN), those 2 buyers of mine never pulled out their wallets.
Using Bodus or PC is more a filter than a solution though. We could also stop showing all leads until they pay but that's really not a solution to the problem that all marketplaces have with non-payers for various reasons.
I do know that our setup, which is on purpose very frictionless, does allow more real buyers eventually to go through the funnel and transact with our sellers.
That must be a while ago since BIN's currently don't go through if the buyer doesn't complete his/her purchase on the spot. So all BIN's you'll have are from 100% legit buyers that have already paid for the domain.
Notice that because i make a experiment with one of my domains & see no way for the potential buyer that need to pay first & then recive the domain ..i guess process will be managed by Undeveloped
Meh. It will be that much more satisfying when it sells for more
Whether Undev or Godaddy, or elsewhere, there are always some non-payers UNFORTUNATELY!..and as domains get more popular and attract all kinds of people.. this will somewhat increase as penalties are pretty much non-existent, unless you decide to go to court, spend a lot of money and time, often years...
(NOT A LAWYER, HAVE SOME IDEA + SOME LOGIC, THIS IS NOT LEGAL ADVICE) They are contractually obligated to honor the deal as clicking accept is similar to signing their name on the agreement contract.. but even that can be somewhat fought in court if you ever reach there...
One option would maybe be to freeze a % of an offer on the buyers Credit Card or bank account when an offer is made.. and if there's an agreement and no payment, you get that amount. But again.. it comes with all kinds of legal issues and technicalities associated to it.
Interesting, i have one domain there hanging for a few days already, and the buyer (or "buyer"?) is also from Singapore.
Sometimes people think domain is in their local currency, other times they are clueless to what they are doing, or think they are buying a product maybe previously associated with the domain.
As you get more 3rd world users going online, you are going to have more of this happen.
Don't waste your time with legal jargon, if someone isn't going to pay, they aren't going to pay, and legal options are limited on 3-4 figure type sales. It is just something you have to deal with, it sucks as you go from a high to a low, but usually you can weed them out quite quickly based on geo region, and email ie) hotmail etc...
Here's another thread where a deadbeat bidder was exposed.
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