Seller Refusing to Transfer After Payment Made - What to do

[dnrabbit]

I finalised a 5-figure domain deal with someone where I am the Buyer.

We set up the transaction on Escrow and I made the payment to Escrow.

Now, suddenly the Seller changed his mind and says he doesn't want to sell.

What to do?

 

[DomainVP]

It seems that Escrow agreement does allow for a cancellation. So, as the Buyer, I am not at all protected. Furthermore, I have to bear over $300 in Escrow fee even upon transaction cancellation.

That is pertaining to the escrow transaction itself, not the overall agreement you have made with the seller to sell the domain.

At the end of the day what you do is totally up to you, but if someone agreed to sell me a domain and then backed out I would beat them over the head with contract procedure and public shaming until I got what I wanted.

 

[ZapNano]

It seems that Escrow agreement does allow for a cancellation. So, as the Buyer, I am not at all protected. Furthermore, I have to bear over $300 in Escrow fee even upon transaction cancellation.

This policy of fees and payments from Escrow and the like are so negative advancefu. You was the injured once, and then injured again. This policy and practice are worst than Zika virus... The luck of reasonable and fairness...

 

[ZapNano]

It seems that Escrow agreement does allow for a cancellation. So, as the Buyer, I am not at all protected. Furthermore, I have to bear over $300 in Escrow fee even upon transaction cancellation.

When I had this kind of situation from eBay I didn't have to pay any jack fees...they know better...

 

[artstar]

That is pertaining to the escrow transaction itself, not the overall agreement you have made with the seller to sell the domain.

At the end of the day what you do is totally up to you, but if someone agreed to sell me a domain and then backed out I would beat them over the head with contract procedure and public shaming until I got what I wanted.

good luck on that! u mean vengeance then

 

[nothere]

Politely remind him of name /shame and how Escrow.com will no look kindly on him.
Otherwise I'd forget about it. Those advocating lawsuits can't be serious....suing isn't that easy or cheap.

I finalised a 5-figure domain deal with someone where I am the Buyer.

We set up the transaction on Escrow and I made the payment to Escrow.

Now, suddenly the Seller changed his mind and says he doesn't want to sell.

What to do?

 

[dnrabbit]

Update: I have sent the below mail to the SELLER. I will post here if any reply is received.



====

Hi Mark,

You entered into a legal binding contract when you agreed to sell the domain on email.

I will wait till 11 pm Eastern Time on Friday (today) for you to send the necessary codes for transfer.

If the codes are not received, then the following steps would be taken:

SHAMING
1. Public Shaming on major Domain Name & Web Forums with your Name, Company Name, Social Media Links and Contact Details
2. Article on Domain Industry Blogs & Newsletters advising people against dealing with you
3. Complaint in BBB against you and your company for failing to honour contract
4. Fraud Alert in major Scam & Fraud Tracking Websites
5. Fraud Alert in Entrepreneur Groups on Facebook, like LONDON STARTUPS, NEW YORK STARTUPS etc.

LEGAL
1. Cease & Desist sent to you putting this name under litigation and prohibiting any sale till clearance is given by the Court of Virginia
2. Complaint sent to Moniker to put this domain under a Transfer Lock prohibiting you from selling it or transferring it
3. Complaint sent to Escrow.com & major Escrow websites to not allow any transaction for this DOMAIN for next 12 months
4. Complaint sent to GoDaddy, Flippa and major domain portals to not allow any transaction or listing for this DOMAIN for next 12 months
5. Complaint sent to Flippa and other portals to permanently suspend your seller account.

I sincerely hope it does not come to it.

Please send the codes.

====

 

[S-B]

It happens to me all of the time. I tend to move on. It's not worth the time.