Sedo keeps money for more than 2 weeks for no reason

[topdom]

Sold a domain and it was paid 2 weeks ago at Sedo.
Sedo could take the domain by push but didn't.
Authcode sent. Buyer was slow or Sedo was slow informing,
anyway transfer is complete, but Sedo still insists on not paying, because
waiting for confirmation.
If there is no confirmation, they will pay me, but after waiting for 1 week.
What a nonsense.
I emptied my Paypal just because Sedo couldn't possibly be so slow.
Sedo wants people to hate them.
I give them top rating not to scare buyers.
But I really want to give them ZERO stars, and since this is not possible,
I will give 1 stars.
I lost one great domain because of them, and now there will be another problem just because of them.
They can't collect money on most sales. And when they do, they make every effort to delay payment,
as if it is their money.
Transfer is complete, but they are not sure it went to the correct account? If so it is not my problem,
and they acknowledge this by saying, we will pay after 5 business days, which means one more week.

Sedo is arrogant outside Trustpilot comments. No respect for sellers. Probably no respect for buyers either, and this is why they don't pay for domains they "purchased" there.

 

[equity78]

@Sedo ???

 

[Mary Muse]

I absolutely DREAD a sale at Sedo ironically enough lol.

I too have spent WEEKS on simple pushes..

 

[Sedo]

Hi Topdom,

I am sorry to read that you are not happy with the way your transfer is running. I can assure you that we do not want people to hate us, we have the utmost respect for buyers and sellers and we most certainly do not want to delay paying out unnecessarily. We try to do everything we can to keep our customers as happy as possible. However, all buyers and sellers agree to our terms / policies and our transfer process is clearly outlined there, we must follow this process: https://sedo.com/uk/about-us/policies/domain-transfer-agreement/

When a domain is sold through Sedo's marketplace, the domain transfer itself is not started until the buyer's funds are confirmed - this is so we can be sure the seller can be paid once the transaction is finished. However, part of our obligation to the buyer is also that we make sure they will have full control and ownership of the domain before the funds are released to the seller. In many situations, this is fulfilled by Sedo taking the push at the seller's registrar, but it is not always possible, since Sedo cannot maintain an account at every registrar available.

In cases where the domain transfers directly to the buyer with the authorisation code, if this can be confirmed via the Whois, then we make the payment. But if the Whois is private or the buyer does not immediately inform us that he received the domain, we will issue a 5 day deadline to respond - this is part of our due diligence to the buyer, so that he has the chance to inform us if the domain was not received, before the funds are released. If the buyer does not respond within the 5 days allotted, he is also informed that we will assume everything is in order for the transaction to be closed, and the funds would then be released.

That is how our process works, you have not provided us with any details of the domain, if you would like to share the domain name with us then we can check out your transfer and give you a more exact answer for your situation if those time frames have passed already.

All the best

Chris

 

[topdom]

Sent an email to feedback @ sedo
You should have a faster way of verifying transfer, like asking the gaining registrar, or calling the buyer.
What if the buyer lies and says I didn't get the domain, what will you do; will I be responsible for it; how can you check if it was stolen because the buyer made it happen or I made it happen, or whether the buyer just lies. You need to contact registrars about it. There must be records of it somewhere.
Also you need to be a little bit flexible. I say, pay half of it, you don't. Previously I said pay me 20, you didn't.
It feels like all banks collapsed, and noone has any money left, and everyone delaying or cancelleing payments intentionally.

(My financial situation is perfect, but I don't have any active credit card, or anything similar which would bring online cash very fast. )

Because I didn't have $ 10 last week, I lost 10K worth of domain (partly because of a registry with evil intentions), and this time I will lose tons of time.

People praising an industry, and showcasing totally junk domains in that industry, and I post a premium domain in that industry which can sell for 5 figures, but offered here for just 20, and there were no takers. People are all crazy, I'm also crazy but in positive sense.