Sedo sale...

[linker]

Hi All,

I accepted an offer that I got through Sedo a couple of weeks ago. I was told that the buyer has paid, and that they are waiting for the buyer to request a transfer. It has been over a week since the buyer paid and I still have not received a transfer request.

I thought that Sedo acted as an escrow, so that if they received the funds from the buyer then they (Sedo) would be the ones that would request the transfer. Obviously that is not the case?? And I am curious, why would someone actually pay for the domain, then not request the transfer??

I must say that I am a bit upset by this because I want (need) the money...

I already contacted Sedo and all they say is that they are waiting on the buyer...

Is this a typical Sedo transaction? I have another offer that I am seriosuly considering but I don't want to go through all of the hassle...

:td:

 

[fonzie_007]

I've heard other people have had problems with the sedo escrow service (in terms of it taking a long time to complete). Hope things get worked out for you.

 

[Phronesis]

Funny, I'm on the other side of a transaction. I accepted a counter-offer, then Sedo said the domain was locked. Then it said it there would be an email with an AUTH code. Then they said the domain is UNLOCKED. That was 2 days ago. I don't have an AUTH code. So I'm with you. Why would the seller take time to unlock the domain but not send the auth code to transfer? There needs to be some improvements here. Anyone ever try to contact the other party directly via the whois email?

 

[faisj]

Same thing here:

Dear Mr. Siddiqui,

Unfortunately we have had no choice but to cancel the transfer for this domain name. Despite repeated emails and contact attempts the buyer has failed to make payment for this domain.

Since this cancellation is no fault of yours and due to the inaction of the other party you might have grounds for legal action, based upon Sedo’s binding bidding system. We would be happy to provide you the necessary contact data on the buyer should you decide that legal action is warranted.

A smooth transfer is only possible with full cooperation from both parties and we regret that this cancellation is necessary. We hope that your future business transactions with Sedo run more smoothly. Should you have any further questions please feel free to contact me.

Some information:

( i waited for more then a month!! )


Transaction History:
03/05/06 Agreement reached

03/07/06 The buyer of the domain has yet to confirm his personal details and contract type. Every effort is being made to contact the buyer in order to get him to complete this information. Once this has been done, the transfer can proceed to the next stage.

03/16/06 We have invoiced the buyer for the sale of your domain. As soon as the payment reaches our escrow account we will inform you and begin the technical transfer.

04/06/06 THE E-mail above!!


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Sale Price: 822 $US -- I could not sell or do anything with my domain
for a month!
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[linker]

faisj,

I understand your frustration, but my situation is a bit different, the buyer has already paid, so Sedo actually has the money... I do not understand why they do not handle the transfer themselves, if the buyer decides to never transfer the domain do they keep the entire amount? To me this is not A very trusting way to handle this kind of transaction, but the big question is why would someone actually pay for a domain, then never bother to transfer it to their account...

:o

 

[D'oh]

sedo transactions usually take at least 2 weeks to complete i have found