Located in Reviews 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.
I actually have someone that looked super serious and we agreed on $1450 for a domain but he didn't pay yet. it's been 1.5 days. what are the chances that he'll pay?
The key to securing payment is:
1. Close quickly -- secure funds with minutes, not hours or days.
2. Be credible -- your market-maker should be in constant contact with the buyer.
3. Delivery value -- don't just deliver the domain but make sure the buyer is happy.
If folks do these 3 things well, you will see transactions close. Non-payers usually are not flakes. They changed their minds, knowing that legal enforcement is weak.
Waiting a day and a half is ok especially that today is Monday.
Unlike most domainers, normal people have a life, you know ... weekend and stuff...
Personally, I never looked on the name, whether it's kate or jerry or tom. I'm guessing you're saying because it's a girl it's bad... but you don't mind if its' you. When It comes to disagreements I don't discriminate(That's if kate is a female or just a misleading username) idk. But this isn't a dating forum buddy. Because if you're not ok with it...that should be in general for everyone ... not based on who it is pointed to.
However, I genuinely will take back the use of the word "idiot" in my response... @Kate Though my point doesn't change. I don't have a history of this. And I Have(as we speak) someone making fake inquiries on my domains.. a fellow domainer here on namepros which i will expose soon. This has had me very agitated and probably influenced my aggressive response to this subject and going a little further on a personal level.
That frustration was influenced and justified by something legitimate and personal. But it was mis-directed frustration.
FYI Kate I believe no longer participates here, at least she has not logged in quite some time- June 6.
It is because of situations like this we lose great forum contributors.
I appreciate that @Rory Ivey took back and owned his response but he also stated this is not a dating forum.
It has nothing to do with what type of forum it is, the object of a discussion forum is to criticize the idea and not the person. Name calling is not a way to discuss things on an open forum.
Now my response to @Rory Ivey on my post he quoted a few above...
Yes I guess signing up for one of the services to purchase a domain is an implied contract but we all know the platforms don't enforce the contract. Short of banning the user the platforms do virtually nil to enforce the sales agreement. Even worse, the user just makes another username and does business again.
So my original comment stated why even bother. Look at the sales you have and not the ones you missed. There is nothing you can do when someone does not follow through with a sale or purchase. As a domainer you eventually get used to this and you learn to count your pennies after they actually hit your account.
For me matter is opposite, I payed but the seller did not transferred the domain.
Recently i won the bidding of VRcomputing.com at Flippa auction. But the seller closed his account soon after the auction was finished. My money was at Flippa Escrow and got back with $10 to $15 loss.
If anyone dealing with VRcomputing.com guy please be careful. He wasted my time and money.
All, please keep discussions polite. I see a lot of anger, opportunism, and rudeness in this thread.
Separate names with a comma.