advice Seller wants domain back. What would you do?

[draco]

I bought a domain for mid 4 figures from someone here on NamePros. Transaction went fine. After they were paid and the domain was transferred, they messaged me asking for the domain back. They said they sold it on GoDaddy auctions and didn't get notification until after they sold it to me. They seem to have also spent the money, as they asked me to wait for a refund until after they get paid from GoDaddy. They do have a good reputation here.

What would you do in this situation? Keep the domain, give it back and wait for your money back, insist on your money back right away, something else?

Thanks in advance.

 

[vickyhunter]

Tell him the domain is indeed for sale and ask him to make an offer. All the best

 

[scithe]

If I wasn't planning to use the domain myself then I'd sell it back for cost plus 20%. If I was going to take over the sale myself then I'd probably offer a 10% finder's fee to the original seller.

Someone tried to buy a domain from me on GoDaddy that I had transferred to Namecheap. I didn't realize that GoDaddy auctions were exclusive to GoDaddy domains (I didn't think that was always the case) so I ended up backing out as the seller and I wasn't penalized. So the seller should be alright too.

Also, if the seller tries to extort any money from you, I would respond with notice that e-mails/PM responses are not unlimited free and future correspondence will cost money. I would only say something like that if he began to complain about his sale price or tried to scam you by calling you a scammer. I realize that seems impossible but do enough business with numpties on the internet and you'll find the world is full of all types of lovely people!

 

[bobbarato]

Ask yourself, if you couldn't sell it in the next year would the seller refund some of your money?

For all the times it doesn't work out, this one did. Sell it and keep all the profit.

Here in Vegas when somebody hits MegaBucks, there's a tradition that the winner gives a nice tip to the casino staff - like $1000. On a Vegas forum, a self-claimed casino worker thought they "deserved" more.

This worker got blasted and my fave burn was something like 'If the casino staff chips in when I lose, then they can tell me what to do when I win..."

 

[Embrand]

A deal is a deal. This happens all the time. Keep it unless seller offers you profit sharing.

 

[alcy]

A deal is a deal. This happens all the time. Keep it unless seller offers you profit sharing.

I'm pretty sure the OP being the new owner.. is the one who'll be doing all the offering

 

[draco]

Thanks everyone for the advice.

The seller said alright (I probably would have done it anyway), so I contacted the GoDaddy / Afternic account rep and asked if I could take over the sale. Waiting to hear back now. This way, I know I will be paid for the sale and I don't have to wait and hope. Plus, that should keep the seller's auction account in good standing on GoDaddy, since the sale is going through.

I may give the seller a finder's fee. Haven't decided yet. A little miffed he never offered me anything originally. Especially with such a price difference.

 

[loredan]

Thanks everyone for the advice.

The seller said alright (I probably would have done it anyway), so I contacted the GoDaddy / Afternic account rep and asked if I could take over the sale. Waiting to hear back now. This way, I know I will be paid for the sale and I don't have to wait and hope. Plus, that should keep the seller's auction account in good standing on GoDaddy, since the sale is going through.

I may give the seller a finder's fee. Haven't decided yet. A little miffed he never offered me anything originally. Especially with such a price difference.

Don't bother with the seller, he should be happy you'll take over the sale otherways he would be in trouble with GD by selling a name he owns no more.

If the seller never offered you anything (and that's a damn greedy thing) why would you bother to pay him extra? You already paid for the name, he was happy and took the money imo

 

[S-B]

I would probably point, laugh, and dance.

 

[BrandClub.com]

I bought a domain for mid 4 figures from someone here on NamePros. Transaction went fine. After they were paid and the domain was transferred, they messaged me asking for the domain back. They said they sold it on GoDaddy auctions and didn't get notification until after they sold it to me. They seem to have also spent the money, as they asked me to wait for a refund until after they get paid from GoDaddy. They do have a good reputation here.

What would you do in this situation? Keep the domain, give it back and wait for your money back, insist on your money back right away, something else?

Thanks in advance.

A CLOSED sale is a CLOSED sale ... point.
Now the domain is yours and you have already somebody interested ...
List the domain on GD auction and close the deal !!!

 

[forge]

Exception, a prominent member, who has earned the right to make a error.

Seriously? The "status" of a NP member, or anyone for that matter, should have no impact on such matters and has no relevance. No one "earns" any such right. Besides, it's not an error, it's a very poor decision.

 

[FPForum]

It would really depend on a few different variables if you ask me. I would definitely consider giving the name back to them, but only if they pay me back immediately. If they spent the money already then that would be on them. If I really liked the name or planned on using it myself then I would probably keep it.

 

[Bram C.]

I would try to make it a win-win situation. If, for example, I bought a domain for $10K and the buyer wants it back because he sold it for $20K on another platform I would simply say "pay me $15K and the domain is yours again and you still have a nice profit as well ($5K minus commission)".

 

[forge]

It would really depend on a few different variables if you ask me. I would definitely consider giving the name back to them, but only if they pay me back immediately. If they spent the money already then that would be on them. If I really liked the name or planned on using it myself then I would probably keep it.

True, and also so many unknowns here. Was this an open 7-day auction? A Buy Now purchase? Was any prior negotiation involved? How did this other sale suddenly appear with no prior notification or acknowledgment?

Questions that need to be answered IMO before OP should decide a course of action.

 

[forge]

I would try to make it a win-win situation. If, for example, I bought a domain for $10K and the buyer wants it back because he sold it for $20K on another platform I would simply say "pay me $15K and the domain is yours again and you still have a nice profit as well ($5K minus commission)".

After commission, the seller would have a $1k profit. Barely worth the bother.

 

[ivey]

I think this is just a situation that the seller has to learn from. Maybe it sold for much more on GD, Maybe they have an excellent rep,but I think it should just be taken as a lesson learned. It's not good business to ask for your domain back..Imagine that happening in another industry?

Seller just has to put greed aside imho....

I've had names sold at other platforms too after I sold the name somewhere else already. I just told new buyer or platform that, name was sold recently.

But I don't think that's a good reason to return the name:

1. You bought a good name and they made good money.
2. If you are asking us this question then it means you are not an enduser.
3. That means you bought a good name to flip it
4. So Why would you return it for same price so the previous owner can flip it for their own greed or gain?
5. And you are left back without the name and a new owner has the name
6. Just flip it to that new buyer for double yourself...

That's not a good reason to give back a name. I'm a very nice person but this doesn't make sense to me...You would be getting played. I would be the first to help out someone but I thing seller should really use this as a learning experience rather than doing bad business. You bought it to make profit. So they already spend the cash and now want back the name to make more cash for themselves with no regard for anyone but their pocket.

Maybe an emotional reason where they sold a name precious to them that they had plans for. But hard times hit and they felt forced to sell and want the name back. Maybe that I can see. But not to kick you to the curve to make profit for themselves. Unless they are willing to pay you back with profit that you agree to.

 

[forge]

There is always the possibility the next "buyer" will become frustrated if this other sale does not complete, and not pursue the domain in the future. That's not uncommon. You also can't know their reasons for wanting the name or how important it is to them. Many buyers quickly give up and move on.

 

[Bram C.]

After commission, the seller would have a $1k profit. Barely worth the bother.

Assuming a 15% commission on a 20K sale is $3K commission. So he's left with $17K of which $15K goes to me. So he got a $2K profit on top of the $10K I paid him earlier for the domain. That's 20% extra for him. I would say it's worth the effort.

 

[forge]

Assuming a 15% commission on a 20K sale is $3K commission. So he's left with $17K of which $15K goes to me. So he got a $2K profit on top of the $10K I paid him earlier for the domain. That's 20% extra for him. I would say it's worth the effort.

GoDaddy commission currently is 20%, which is how I did the math.

 

[Michael]

Keep it, it's your domain. Even if you can't take over the transaction, the person who "won" the auction at GoDaddy will probably reach out to you and you can deal directly through Escow.com or something. If GD is smart they'll let you take over so they can pocket the commission.

Then it's up to you whether you want to give the person you bought the domain from a finder's fee because he told you what the other party was willing to pay. But given that he tried to get you to reverse the transaction so he could pocket double, and not have anything in it for you while you lock up mid $x,xxx for a week or more, and that he even had the nerve to ask you to pay you later when he is paid, I wouldn't give him anything. He wasn't thinking of you after all.

 

[doubleU]

If you have not made any plans to development the domain and wish to sell it for profit then you could sell it back for more, how much more depends on the godaddy sales minus commission price and what your both comfortable with.

Everyone's happy then !

 

[PNW]

"They said they sold it on GoDaddy auctions and didn't get notification until after they sold it to me."

It means they were too lazy to remove the name from the marketplace like so many other people who have sold their names and/or are lying.

"They do have a good reputation here."

Several years ago I sold some names to someone here that had a stellar reputation in the "domain industry." I don't think it was even 24hrs before I received a charge back! Luckily I had our correspondence and the charge back was reversed. There are others here now that appear to have good reps, but years earlier were on the hot seat for pulling unethical sh*t. There are just a handful of folks here I'd ever do a $x,xxx transaction with; all others would go through Escrow.com or some other reputable escrow service.

Anyway, you forked out serious cash, the name was transferred and that transaction is completed. I do think it's honorable that you'd be willing to share proceeds should a sale happen from their lead.

 

[kandyan]

.........

 

[kandyan]

This will be a good one. I assume the seller will read this thread. Money first without a doubt, plus i would ask for some juice, like half of their profit.
Exception, a prominent member, who has earned the right to make a error.
Otherwise what Alcy said describes it best

This is horrible.. what gives a prominent member Rights to make error/or play double game and then claim it an error... if it's an error.. he should go to the second seller and explain his mistake.. not the first one..
THIS IS ALL ABOUT SELLERS REMORSE..

You bought it first... Then IT IS your property.. may be the seller has the remorse on losing out some of the money.. but.. it's up to you.. you can sell the domain by yourself and may be give a little to the seller.. if you feel like doing it. It's entirely up to you..

you even contemplating giving it back.. That's very nice of you.. Wish you well

 

[tld_org]

The domain is yours, period. It is extremely unprofessional of the seller to try to get this domain back. I sold a domain to a person (verbally committed) for $10k and the same day I got a $15k offer from another person. I still had the domain in my possession and I had not started any Escrow transaction yet. I still sold it to the first person for the $10k because I agreed to it, that's the way it goes.

 

[kandyan]

Then the question is, keep all the money or split the profit with the Seller?

If it's his lead then it's only fair.. you give him a percentage of the sale.