Received Network solutions certified offer, best strategy advice ?

[NetOctave]

Any help would be greatly appreciated.

I received a $500 offer through Network solutions Certified Offer Service. I can either accept the offer, or counter it with a higher amount or reject it outright.

If I were to counter it with a higher value, what are the options available for the "interested party". Will they again have an option to counter it or Do they only have an option to accept my offer or reject my offer ?

Previously with end users who contact me directly, I counter with a high value, they counter back and later we agree on a price...

Here, I don't want to scare the interested party away by countering with a large amount, Nor I want to sell the name for cheap. Since I can't contact the party directly, this may be my last chance.

What are the best options before me ?

 

[Robin]

i don't know much about Network sol. but do proper scrutiny before taking any steps. Beware of scammers.

Anyway, if the domain is really cool, then go for higher offer.

All the best

 

[ssamriga]

I think it's highly unlikely that they wouldn't have an option to continue negotiations after a higher offer... though can''t say for sure.

 

[garptrader]

With any offer one has to respect that the other party has some limit on how much they are willing to pay. However, my one experience with the Netsol buying service is that it is an automatic service and can be gamed. I received an initial offer of $149 which I quickly rejected. Second offer came hours later at $279. I quickly rejected that offer. Several hours later another came at $4XX. I rejected that offer insisting on $1000 because I didn't really want to sell via this method and Netsol had a very long contract which one had to read through. Then I didn't hear back for few days. I thought I had lost the offer and then discovered they had accepted my $1000 counteroffer. I will never know if perhaps the buyer was initially only wanting to offer say $500-$750 but when my counteroffer was higher they had to consult with the buyer or why that delay occurred. But I had the domain for sale at SEDO and Afternic at ~$750 so obviously the service didn't even look in the domain marketplaces to see if they could get a better deal. The last time I checked the buyer hasn't even developed the domain. In hindsight I was lucky to negotiate that domain so high. Each case is unique but best of luck.

 

[Spade]

i don't know much about Network sol. but do proper scrutiny before taking any steps. Beware of scammers.

A Certified offer from Network Solutions means the person paid a fee in advance - I believe its around $60 and they also agree to pay a small percentage (I believe that is 5%) ontop of the final sales price. They are ususally pretty solid, and am only familiar with one of them falling apart. This is not a scam as Network Solutions acts as Escrow.

Since you have no idea who made the offer, you need to go with your gut on what you think the value of the domain is (not what the buyer does). I think a safe counter is $750-800. It represents a 50%+ bump but typically in negotiating a domain sale, thats considered reasonable.

If the domain name is clearly more valuable, and youve received past offers in excess, by all means - raise the price more. Without the domain name though, its difficult to tell you how to proceed.

Justin

 

[HuntingMoon]

like Justin posted, netsol cert offer is legitimate- and also a high quality lead! sell the name for $500 if that is satisfactory for you or counter with your preferred price but do not play games- take a profit and move on... good luck!

 

[matrigaldo]

Just sell your domain for the price you consider fair and satisfating. But, as huntingmoon says, don't play games. Don't shoot high amounts or you will go to lose this chance.

As Spade says, a $750-800 counter offer is fair enough.

 

[NetOctave]

Thank you all for the responses. Rep added. The name was something I planned to develop. If it falls through, I will continue with the development.

 

[primavera]

The last time I dealt with them I received a check with illegible routing/account numbers. I wasn't aware of it at the time I deposited it. The check went to a clearing house in Chicago and I couldn't get the original back. I informed netsol of the situation to no avail. They would not issue another check even after 6mo of the lousy check not clearing....The domain was sold for $500 I wonder who got to keep the money, buyer or netsol?