.com Sold TwoWord for $13,000 | Hold time 11 Month | Purchase Price $1260

[TERADOMAIN]

D/I/G/I/T/A/L/G/L/O/B/A/L/./C/O/M
​

Purchase Price: $1260

Sell Price : $13,000

Escrow.com concierge (Buyer paid fees)

Hold Time: 11 Months

I do not post 90% my sales. But this one was really interesting one and unique one. So I thought let me share my thought about it with all of friends here on Namepros. I learned a lot from friends here on namepros. So I consider it as my duty to share with all of you if I learned something new. I strongly believe I let go this name for less than it can fetch considering magnitude of this name. So broad and appealing. But profit is profit end of the day. Hahahaah

• I won name from Godaddy expired auction for $1260. I really liked the name and almost thought about it to keep as my parent company name ( I had 2/3 other names too for parent company name).
• Listed at Sedo, Flippa from the day I received name in my account. I should have listed at other places too like Afternic. But I never thought about selling it so never listed multiple places.
• In December 2017 I decided to move some of my names to Undeveloped until I have my own portfolio site. I like Undeveloped because of no junk ad plus nice and clean offer page.
• Listed this name on Undeveloped on first week of December 2017.
• January 31st 2018 I received offer of €1,000.
• Little negotiation via message board in Undeveloped and we decided to agree the deal for $10,000
• 2/3 days and no payment.
• I messaged Undeveloped to find out what is going on. They said Buyer having hard time sending wire transfer to their bank because his bank is not feeling comfortable to send wire outside USA.
• Little communication back and forth with Undeveloped by me as well as buyer. Team of Undeveloped having hard time with buyer due to his bank not willing to send Wire outside USA. Undeveloped give him multiple choice but none of them worked out and deal got cancelled. Undeveloped team suggest me to deal with this gentleman only and only via reputed Escrow services. I am very thankful to Undeveloped for that extra care towards seller even deal got cancelled.
• Buyer contacted me immediately via text after deal got cancelled in Undeveloped.
• I called buyer to his phone number to find out what went wrong. That is first time I got to know who the interested buyer was.
• Buyer said he is interested to buy the name. I told him the deal got cancelled because of your Bank's inability to send wire transfer. Buyer said His Bank may send wire to locally (USA). I told him Escrow.com is the best and only solution but give me sometime to think about it because deal on Undeveloped got cancelled because of buyer's bank's inability to send wire.
• I thought about few hours. I was literally 50%-50% and not sure if buyer legit or not.
• I did my little research on namebio to see what Digital+Keyword as well as Keyword+Global average historical sales price. I found range around $15K-$20K.
• I thought let me share my true feelings with interested buyer before we initiate new deal via Escrow.com instead of lie to him like I got new offer from someone with higher offer bla bla bla. I thought I did all my deal with honesty to lets stick to that path without any different thought. It is very easy to lie but it require lots of courage to stick to right path. But believe me right path show us correct direction even road is very challenging.
• I called buyer same evening (after 3-4 hours) and shared what I feel about name and what it worth if we compare to historical sales of similar names. I shared true feeling and said to buyer that I think actual worth of name is different so I leave it upto you. Buyer said he will do $13K max and he take care of Escrow.com fees. We agree to new terms and price before we initiate new transaction via Escrow.com.
• Buyer was aware of Escrow.com but never did transaction this high in past via Escrow.com
• I help him understand their escrow.com concierge service and request him to use that option for peace of mind for both because in escrow.com concierge service. Name gets transferred to Escrow.com account and they release fund right away once they receive name in their account. Then name gets transferred from Escrow.com account to buyer's account. This service cost little extra but it is worth it when we do Five figure or higher transaction. Its extra layer of protection.
• We initiated transaction in escrow.com using concierge service.
• Weekend start. So we waited for 3 days.
• Monday I called buyer to find out what is going on and asked him let me know if I can help out anyway. Again Buyer's bank says no to wire transfer. Buyer said give him some time and he may go to different bank to see if any other bank can help him wire money to Escrow.com.
• Buyer got tired after hearing no from all bank for wire transfer.
• Buyer requested Escrow.com to see if they accept Cashier's check or Money order or Personal check. Escrow.com said they do not accept those. It was very strange because I found out that on their website they says they accept those as alternate payment method. See here it still says. https://www.escrow.com/domains
• Please visit above link and you will find following line under buyer's benefits "Ability to pay by wire transfer and in some cases PayPal, check, money order, or credit card "
• I also talked to Escrow.com to find out how they will help us closing this deal. At that moment they were keep telling me different stuff which literally does not match what their acceptable payment method present on the site which is still present.
• I talked to Escrow.com customer support to help buyer as much as I can to close the deal because I knew buyer never did this kind of transaction in past so he do not know. As a seller it is our duty to help buyer as much as we can.
• We are not getting anywhere. My brain says so many red flags because how on earth bank can say no to wire transfer our money??? But my heart says buyer is legit who do not know so many things about how to do this type of transaction.
• Buyer got tired and offered me to drive half distance and me driving half distance to seal the deal. I said let me think about it.
• Again My brain says so many red flags because how on earth bank can say no to wire transfer our money??? But my heart says buyer is legit who do not know so many things about how to do this type of transaction.
• We were not getting anywhere because we were not getting proper help from anywhere. We almost decided to cancel transaction again. Buyer also contacted Escrow.com to cancel transaction. But Escrow.com said they can't cancel until they get confirmation from seller.
• I found out what is policy of Escrow.com. I learned deal automatically get cancelled if buyer do not submit payment in 2 or 3 weeks.
• I told buyer lets keep trying. I told him I am not going to cancel the deal from my side because I am ready to do everything from my side to close the deal. The ball is in your court and I am ready to help you as much as I can.
• Buyer kept trying with various banks and not getting proper help from banks.
• We also decided to cancel current transaction and create new transaction with Escrow Domain Holding service where you can get choice to submit multiple payments after first payment gets submitted via Wire.
• I tried to learned what is Escrow Domain Holding service and how it works. I also contacted their customer support to find out what if buyer pay initial small payment via Wire and remaining payment via Moneyorder (USPS Moneyorder)??? We never get satisfactory answer from Escrow.com customer support regarding that because they never said yes that is possible. I asked them we are trying to minimize lose to both party and try to understand your system before creating new transaction. But no satisfactory answers.
• I kept trying various options but I was firm to close deal via Escrow.com only and no other option. I learned Escrow.com do not have lots of clarity from their side too. They should have clear cut transparent policy which one can understand very easily.
• I regularly call buyer every evening to see what is current status.
• On one evening I was communicating to buyer and listening to understand why his bank saying no to wire transfer. Buyer said " Bank do not know why they are transferring money??? To whom?? Is this for Drugs or some illegal activity"???
• I told buyer why bank has confusion?? Please let your bank understand what Escrow.com is. Please show your bank our agreement on Escrow.com that we are trading digital asset and you are paying to get digital asset transferred to your account after payment. I told buyer to show all documents to your bank. I told them please let your bank know that Escrow.com is licensed escrow services who completed $3 Billion worth of transaction.
• Buyer showed all those documents to bank. Bank transferred those docs with explanation letter from buyer to higher authority. They approve everything including agree to Wire fund to Escrow.com account.
• Bangggggggggg
• Money received in Escrow. I transferred name to Escrow.com account. They released fund to me as soon as they received money in their account. Then name get transferred to buyer.

My intention to share about this transaction is only and only because we can learn from each other. Sharing is caring.

• Its very challenging to walk on right path. But my tiny little experience says it works.
• Always share your honest feelings and facts to buyer regardless of he knows the market or not.
• Always care about people around us. Honesty is the best way to move forward in life by keeping right intention in center of our action.
• Do not wait for buyer's willingness to do something. We as a seller must take 1st steps or as many steps possible to help buyer as much as we can.
• Please get involve with buyer to decrease his burden by helping him as much as we can.

Special Thanks to @Undeveloped . I truly believe their special customer support is something special. They care for their member. At least I experienced it.

I also love Escrow.com because they worked really well for me. I have no personal complain against them as well.

You are most welcome to share your thought about this transaction so we all can learn something from each other.

Thanks

 

[TERADOMAIN]

Well, that was quite a great, interesting story. I'm just a bit puzzled as to the buyer's inability to do something when his bank, and other banks as well, denied his request for wire transfer. Surely, the first thing that comes out in one's mind is... why? What is simply the reason why those banks do not want to wire transfer the funds? On day one when the bank said no to wire transfer, the buyer should have immediately sought the assistance of the bank on how on earth could he possibly send that amount via wire transfer. What is stopping the bank from doing so and what advice or solution can the bank suggest to him in order they can do the wire transfer.

The key to the solution is with the bank and so the buyer needs to coordinate and talk with a bank official about all things necessary to successfully make a wire transfer. I have on a few occasion encountered this kind of problem with the bank refusing to do wire transfer. You just simply need to provide the bank some supporting documents in order for them to carry out the task. I just don't get it why the bank is not helping its customer understand the protocols of sending wire transfer. Basically, it only needs some sort of clarification and explanation from the bank on how to properly deal with this matter.

Anyway, congrats to a job very well done!

Thanks for sharing your view.

Buyer did so many different ways. He did so many different ways honestly. He faced lots of hard time from Banks and in certain way Escrow.com. I can't share all the details. But I can definitely say buyer tried various things honest way.

Thanks

 

[winst]

So the lesson here is that some banks or their local branch was not experienced with domain name transactions or online escrows. They just need more paperwork?

I had sold a domain name for 5 figures, the buyer (in London) hired an international law firm (in France) to handle the negotiation and transaction. The deal was done via Escrow.com without any problem.

 

[DAN.COM]

Thanks for sharing your feedback with me.

Most of Escrow services Undeveloped / Escrow.com / Godaddy accept wire transfer only above certain threshold which is $5000 for Escrow.com for sure. So paying with credit card was not an option for that transaction in Escrow.com and buyer has to pay in single wire. Multiple payments not allowed on that particular transaction. For multiple payment plan there is Domain Holding Service in Escrow.com which is little different too.

Thanks

Actually, we offer credit cards payments up to $50,000 if the buyer uses VISA or Mastercard. We handle many payments above $10k via CC.

In this case the buyer refused to use any of our payment sources. We're happy in the end you worked it out with the buyer! Great sale!

 

[TERADOMAIN]

Actually, we offer credit cards payments up to $50,000 if the buyer uses VISA or Mastercard. We handle many payments above $10k via CC.

In this case the buyer refused to use any of our payment sources. We're happy in the end you worked it out with the buyer! Great sale!

Thanks a lot @Undeveloped for amazing customer service by you. I really appreciate it. I asked you what to do and you suggested only use Escrow services if buyer contact me directly. Nobody does that. I am touched by your gesture. That is called great customer service.

Nice to hear that credit card limit is $50K and various payments allowed.

Thanks

 

[DAN.COM]

Thanks a lot @Undeveloped for amazing customer service by you. I really appreciate it. I asked you what to do and you suggested only use Escrow services if buyer contact me directly. Nobody does that. I am touched by your gesture. That is called great customer service.

Nice to hear that credit card limit is $50K and various payments allowed.

Thanks

You're most welcome! We want all our sellers to be successful and will always lend a hand where we can. Our philosophy is not about squeezing every single penny out of our customers but growing together with them so this is a great example of that. Again, I'm very happy it worked out in the end!

 

[hs.Gabriel]

Congrats @TERADOMAIN
and thank you for this share.

 

[ivey]

I agree with the honesty. It's the best way.

Congrats! and thanks for sharing!

 

[DomainBarracksRob]

Congrats!!!! As well as thank you for all the useful knowledge and tips that may save some of us time and money in the future . Thank You. Great sale, wonderful ROI

 

[TERADOMAIN]

You're most welcome! We want all our sellers to be successful and will always lend a hand where we can. Our philosophy is not about squeezing every single penny out of our customers but growing together with them so this is a great example of that. Again, I'm very happy it worked out in the end!

Thanks again for sharing your view.

That is so nice of you. Your positive attitude and your nice & clean platform will make Undeveloped best place for so many people like us. I like it.

Thabks

 

[xynames]

Yes, shouldn’t be afraid to pay more than reg fee for a domain. Good job.

 

[creataweb]

Actually, we offer credit cards payments up to $50,000 if the buyer uses VISA or Mastercard. We handle many payments above $10k via CC.

In this case the buyer refused to use any of our payment sources. We're happy in the end you worked it out with the buyer! Great sale!

That's good to know. I am sort of shocked that the buyer refused to pay this way. He could have gotten a lot of reward points on his CC!

 

[CDM]

Great read, and great sale. Congrats. This was my favorite part, along with your final thoughts ...

I thought let me share my true feelings with interested buyer before we initiate new deal via Escrow.com instead of lie to him like I got new offer from someone with higher offer bla bla bla. I thought I did all my deal with honesty to lets stick to that path without any different thought. It is very easy to lie but it require lots of courage to stick to right path. But believe me right path show us correct direction even road is very challenging.

 

[DnFolk]

Congratulations @TERADOMAIN

 

[wwwweb]

You're most welcome! We want all our sellers to be successful and will always lend a hand where we can. Our philosophy is not about squeezing every single penny out of our customers but growing together with them so this is a great example of that. Again, I'm very happy it worked out in the end!

Very good to know, you would catch a lot more customers, given nobody knows that.

 

[brandboss]

Many many congrats..

 

[wwwweb]

DigitalGlobal.com sounds like a powerhouse media company name. The buyer got a fair deal, had this been in a NameMedia, or Berkens portfolio you can count on a $30-45K asking price on it.

Either way you made a great return, and onto the next one.

 

[wwwweb]

So interesting scenario in play they could have acquired Digital.Global with 10 years renewal added for $4,900

I think the .com is the better investment, and for traffic, and marketing purposes, but they could have saved 2/3, but they made the right call.

 

[szalon]

good job wow

 

[Recons.Com]

Thank you for the detailed report ) Quite a dramatic sale ))

 

[TERADOMAIN]

So the lesson here is that some banks or their local branch was not experienced with domain name transactions or online escrows. They just need more paperwork?

I had sold a domain name for 5 figures, the buyer (in London) hired an international law firm (in France) to handle the negotiation and transaction. The deal was done via Escrow.com without any problem.

Thanks for sharing your view.

Yes we need to show them what is the reason of wire transfer especially when transaction is above $10K I think.

Thanks

 

[TERADOMAIN]

Congrats @TERADOMAIN
and thank you for this share.

I agree with the honesty. It's the best way.

Congrats! and thanks for sharing!

Yes, shouldn’t be afraid to pay more than reg fee for a domain. Good job.

Congratulations @TERADOMAIN

Many many congrats..

good job wow

Thanks a lot

 

[TERADOMAIN]

Congrats!!!! As well as thank you for all the useful knowledge and tips that may save some of us time and money in the future . Thank You. Great sale, wonderful ROI

Thanks. I learned & learning so many things from this forums. As I said in post this was different and unique transaction so I thought let me share so we all can learn something new from it.

Thanks

 

[TERADOMAIN]

That's good to know. I am sort of shocked that the buyer refused to pay this way. He could have gotten a lot of reward points on his CC!

Agree with you friend. Yes if he had used CC with Cashback points/rewards he could have saved something plus $3K less than Escrow.com deal.

 

[TERADOMAIN]

Great read, and great sale. Congrats. This was my favorite part, along with your final thoughts ...

Thanks for sharing your view with me.

This kind of comment from fellow friend keeps me motivating more.

Thanks

 

[TERADOMAIN]

DigitalGlobal.com sounds like a powerhouse media company name. The buyer got a fair deal, had this been in a NameMedia, or Berkens portfolio you can count on a $30-45K asking price on it.

Either way you made a great return, and onto the next one.

10000% agree the name sounds huge and that is the reason I had 1 thought to keep the name for my own parent company. But with time options increased and someone knocked door with decent offer so I went with it. If I had hold little longer I could have expected more. But deal is done so not point of looking back.

Thanks for sharing your view.

Thanks a lot.